2311 W Virginia St, Evansville, IN 47712

Prime Commercial Property with Drive-Thru in High-Traffic Location – Owner Financing Available!

Formerly home to a thriving restaurant for 47 years, this well-maintained 1,656 sq ft commercial building is now available in the heart of Evansville’s busy west side (47712 zip code). Situated on a .22-acre lot at the highly visible cross streets of St. Joe Ave and just minutes from the popular Franklin Street district, this property offers unbeatable visibility and access in a vibrant commercial and residential area.

Built in 1977 and built to last, this property comes fully equipped and ready for your business or investment plans. Features include:

• Drive-thru

• Walk-in freezer

• Commercial hood

• Grease trap

• Three-compartment sink

• Security system

• Booths, tables, and chairs included

• Private parking lot

Whether you’re looking to launch a new restaurant, reimagine the space for another retail use, or simply invest in a proven income-producing property, this opportunity checks all the boxes.

Financial Highlights for Investors:

• Purchase Price: $325,000

• Owner Financing Available!

• At 80% LTV, annual debt service = $24,189.33

• Net Operating Income (NOI): $36,000

• Annual Cash Flow: $11,810.67

• DSCR: 1.49 | Cap Rate: 11.08% | ROI: 18.17%

With low property taxes in this zip code and strong traffic from neighboring restaurants, retailers, and a dense residential population, this is a rock-solid investment opportunity with room to grow.

Contact us today to schedule a private showing or discuss financing options.