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Former grocery store near downtown

Listing was updated on: 07/31/2019

Property Overview

Price/Rent PSF $ 1,070,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 34,375
Date Available 07/31/2019
Additional URL Link
Floors 1
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Description

Location
Located along the west side of Main Street 2 blocks north of the Lloyd Expressway.

Sale
Available subject to right of first refusal - Former grocery in densely populated area.

Former tenant is paying $9,950/month through 11/30/19. The majority of this building is leased to Houchen's for the operation of an IGA Grocery. Houchens closed this store in early 2018 as part of a market repositioning effort. 25k SF of this building is finished out as a grocery and the remainder of the 34k SF building is semi-finished space created when the tenant remodeled and consolidated their footprint in 2012.

This presents a unique opportunity for a developer or user to acquire a vacant building with cash flow in place and the possibility of negotiating a buyout of the existing lease with the former tenants. The building is located in the Jacobsville area of Evansville, just north of Downtown, in an area that is the current focus of a revitalization initiative and a $16.7M capital improvement project (completed late 2017) to its streets and infrastructure that is expected to increase property values, attract new businesses and additional private development in one of the most culturally significant parts of the City.

Location

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