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28773499
29578652

4650 University Dr, Evansville, IN 47712

MH
IN IN RB14052326
Marcus & Millichap - Indianapolis
DY
IN RB14050667
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis
$2,171,232
191 days on market
Updated 23 days ago

Arby's | Evansville, IN

Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 3,263
Net Rentable (SqFt) 3,263
Units 1
Cap Rate 6.25%
NOI $135,702
Occupancy 100%
Tenancy Single
Brand/Tenant Arby's
Lease Type NNN
Lease Term 34.4
Lease Expiration 04/30/2033
Remaining Term 6.9
Rent Bumps Yes
Lease Options 3 Five-Year
Price per SqFt $665
Broker Co-Op Yes
Class A
Year Built 1990
Year Renovated 2020
Buildings 1
Stories 1
Acreage 0.540
Zoning Commercial
Investment Type Net Lease
Lease Commencement 12/16/1998
Occupancy Date 12/16/1998
Ownership Fee Simple

Retail | 6.25% CAP | 3,263 SqFt

Marketing description

7.2 Years Remaining on Freestanding QSR with Drive Thru | Arby’s Restaurant Group (Inspire Brands) Corporately Guaranteed Absolute NNN Lease with Three, Five-Year Renewal Options | 8% Rental Increases Every 5 Years and in Options

Strategically Located in West Evansville’s Main Retail Corridor Along Lloyd Expressway, the City’s Main Thoroughfare with Exposure to a Combined 28,664 Vehicles Per Day

Surrounded by National Retailers: McDonald’s, Chick-fil-A, Walmart, Home Depot, Lowe’s, Shnuck’s Grocery, Aldi, Kohl’s, Starbucks, Chipotle, Culver’s, Verizon, T-Mobile, Olive Garden, Panera Bread, CVS Pharmacy. Taco Bell, O’Reilly Auto Parts, AutoZone, Valvoline and Many Others


Only 2.5 Miles from University of Southern Indiana Main Campus, a 1,400 Acre Campus with 9,286 Student Enrollment

Nearby Walmart Supercenter has 2.5 Million Visitors per Year | #1 Walmart in 30 Miles | Ranks in the Top 12% in State and Top 18% Nationally

The Surrounding Centers, University Village and Evansville West Center Generate More than 2.6 Million Visitors per Year

Located Across from Progressive Health Headquarters and Medical Offices with 500+ Employees and Peyton Manning Children’s Hospital

Three Miles from Downtown Evansville, Indiana’s Third-Largest City | Evansville Metro is Growing and Maintains a Population of 317,000 Residents | Evansville is the Primary City in Southwestern Indiana Serving a Trade Area of 520,000 People

Investment highlights

7.2 Years Remaining on Freestanding QSR with Drive Thru | Arby’s Restaurant Group (Inspire Brands) Corporately Guaranteed Absolute NNN Lease with Three, Five-Year Renewal Options | 8% Rental Increases Every 5 Years and in Options

Strategically Located in West Evansville’s Main Retail Corridor Along Lloyd Expressway, the City’s Main Thoroughfare with Exposure to a Combined 28,664 Vehicles Per Day

Surrounded by National Retailers: McDonald’s, Chick-fil-A, Walmart, Home Depot, Lowe’s, Shnuck’s Grocery, Aldi, Kohl’s, Starbucks, Chipotle, Culver’s, Verizon, T-Mobile, Olive Garden, Panera Bread, CVS Pharmacy. Taco Bell, O’Reilly Auto Parts, AutoZone, Valvoline and Many Others


Only 2.5 Miles from University of Southern Indiana Main Campus, a 1,400 Acre Campus with 9,286 Student Enrollment

Nearby Walmart Supercenter has 2.5 Million Visitors per Year | #1 Walmart in 30 Miles | Ranks in the Top 12% in State and Top 18% Nationally

The Surrounding Centers, University Village and Evansville West Center Generate More than 2.6 Million Visitors per Year

Located Across from Progressive Health Headquarters and Medical Offices with 500+ Employees and Peyton Manning Children’s Hospital

Three Miles from Downtown Evansville, Indiana’s Third-Largest City | Evansville Metro is Growing and Maintains a Population of 317,000 Residents | Evansville is the Primary City in Southwestern Indiana Serving a Trade Area of 520,000 People

Listing Contacts

MH
IN IN RB14052326
Marcus & Millichap - Indianapolis
DY
IN RB14050667
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$135,702.00
$11,308.50/mo

Valuation Metrics

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DSCR
6.25%
Cap Rate
6.25%
ROI

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Additional Information

Name
Madison Harman
License
IN RB14052326
Brokerage
Marcus & Millichap
Brokerage Phone
2604947213
Title
IN
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