Morgan Ave., 2163-2171 E. / #2206

Shopping Center for Sale
Catylist Listing ID: 29608513
Property Subtypes: Strip Center
Building Size (RSF): 10,560 SF
Gross Building Area: See Agent
Gross Land Area: 21,532 SF
Sale Price: $499,000
Unit Price: $47.25 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/24/2019

Overview / Comments

- This property is located on Morgan Avenue across from the old Walgreens at the corner of Oak Hill Road and Morgan Avenue.
- Sale consists of 3 parcels - including a lot behind the building with access from Eichel Ave. for additional parking.
- Owner will split the building:

-2171 E. Morgan Ave, Lot 82' x 171', Bldg 4,680 SF, Taxes $4,579
-2163 E. Morgan Ave, Lot 120' x 131' Bldg 5,880 SF, 3 units, Taxes $8,201
-2174 Eichel Ave, Lot 45' x 126', Taxes $573.86

- $25 for Water per tenant

- Currently there are 5 suites, 4 of which are rented:
1. Screen Print shop - $1200/mth - 3 yr lease
2. Massage therapy - $1000/mth - 1 yr lease
3. Puff-n-Stuff - $950/mth - 1 yr lease
4. Church - $1000/mth - 1 yr lease
- One vacant space available for $500/mth

Attachments & Media


Finance Data Year 2014
Real Estate Taxes - Annual($) $13,948 (Annual)
Tax Value Land $207,500
Tax Value Improvements $366,500

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Tax ID/APN: 82-06-22-013-046.016-027
Zoning: C-2 AND R-2
Market Type: Medium
Retail Clientele: General
Side of Street: South
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Morgan Avenue
Transportation: Bus, Highway, Taxi
Highway Access: US Hwy 41 and I-164 (soon to be I-69)
Airports: Evansville Regional Airport
Area Description: The building is located near other retail centers, office, car lots, Rural King, Walgreens. There are also schools in close proximity. Dense roof-top area.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 10,560 SF
Property Condition: Excellent
Year Built: 1984
Year Renovated: 1988
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Parking Type: Structure
Total Parking Spaces: 40
Heat Source: Central
Air Conditioning: Air Curtain
Internet Access: Cable, DSL, Satellite, T1/T3
Zoning Description: C-2 (commercial) and R-2
Easements: Utilities
Legal Description: City Knight - 2PT NE NW22-610

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,683 85,615 143,232
Median Age: 42.1 37.84 38.34
Households: 3,921 36,741 60,728
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