12415 SR 57

Industrial for Sale
Catylist Listing ID: 30344500
Property Subtypes: Free-Standing, Light Industrial, Net Leased, Warehouse/Distribution
Building Size (RSF): 8,185 SF
Gross Land Area: 2.62 Acres
Sale Price: $485,000
Unit Price: $59.25 PSF
Ceiling: 14 ft.
Drive In Bays: 6 Bays
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 8.8%
Average Occupancy Rate: 100
Last Updated: 2/28/2019

Overview / Comments

Summit Real Estate Services is proud to present this unique investment opportunity located on Evansville's northside. This single-tenant warehouse property is located on SR 57, just west of I-69, in northern Vanderburgh County.

The property is currently leased to RoadSafe Traffic Systems, Inc., and has four (4) years remaining on the lease. RoadSafe is the nation's largest provider of traffic control and pavement marking services. Operating throughout the United States and headquartered in Chicago, RoadSafe has over 40 locations with road crews trained and certified by the American Traffic Safety Services Association.

- Long-term successful tenant
- Located in Northern Vanderburgh County industrial area
- Strong and growing demographics


Finance Data Year 2017
Gross Operating Income $52,800 (Annual)
Net Operating Income $42,827 (Annual)
Actual or Proforma Year Actual
Loan Amount $388,000
Down Payment $97,000
Annual Debt Service $32,028 (Annual)
Interest Rate (APR) 5.50
Amortization Period 20 years

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Taxing Authority: Vanderburgh
Tax ID/APN: 82-04-14-009-079.010-030
Zoning: C-4
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1985
Overhead Cranes: Undisclosed

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,379 15,054 38,859
Median Age: 32.53 37.72 40.39
Households: 914 5,558 14,854


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