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31851302
31851301

1416 MEYER AVE, EVANSVILLE, IN 47710 For Sale

DP
MI MI 6502361821
Fortis Net Lease
MD
01859235
Fortis Net Lease
Listed by Fortis Net Lease
$1,511,400
90 days on market
Updated 2 days ago

1416 MEYER AVE EVANSVILLE IN 47710

Details
APN 82-05-13-034-432.001-020
Property Type Industrial
Square Footage 8,150
Units 1
Cap Rate 12.5%
NOI $188,927
Year Built 1962
Year Renovated 2024
Stories 1
Lot Size (SqFt) 91,650
Ground Lease No

About This Property for Sale

Marketing description

Industrial • 8,150 SF • 10/11/2022

Investment highlights

Fortis Net Lease is pleased to present this offering for two Cross Dock Warehouse Truck Terminals in Evansville, Indiana on approximately 3 acres. The West building, 1416 Meyer, includes 8,150 SF with 26 Dock level doors and 900 SF of office space on 2.10 Acres. The second building, 2780 Kratzville, the East building is comprised of 5.150 SF with 16 Dock level doors and 800 SF of office on .90 acres. Both buildings were completely renovated in 2024. Both sites are zoned M-2 – General Industrial allowing for Industrial Outdoor Storage.

1416 Meyer is currently leased by AAA Cooper (Subsidiary of Knight-Swift Transportation (NYSE:KNX). This is a NN Lease which expires in December 2027. Landlord responsibilities include roof, structure, parking lot, and HVAC. The tenant pays all expenses directly and reimburses LL for real estate taxes and Management fee.

AAA Cooper moved out of this site in 2024 and but continues to pay rent through December of 2027.

2780 Kratzville was was recently leased to Parcil Safety on a new 3 year lease as their new National headquarters and distribution center. Parcil Safety primary business is the sale and distribution of gas masks and safety equipment.

The properties are individually parceled and may be leased or purchased separately or together.

Listing Contacts

DP
MI MI 6502361821
Fortis Net Lease
MD
01859235
Fortis Net Lease
Listed by Fortis Net Lease

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$188,927.00
$15,743.92/mo

Valuation Metrics

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DSCR
12.5%
Cap Rate
12.5%
ROI

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