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Shopping Strip

Mercy Urgent Care Center

710 S Green River Rd, Evansville, IN 47715

Listing Price: $2,650,000

Cap Rate
6.40%
Gross SF
8,119
Rentable SF
8,119
Price/Gross SF
$326.39
Lot Size
0.86 acres
Year Built
2019

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review Mercy Urgent Care Center in Evansville, IN. The 8,119 square foot building was built in 2019 and sits on 0.86 acres of land. The center is currently 100% occupied and anchored by Mercy Urgent Care and drive-thru equipped Donatos Pizza. Both tenants recently signed 10-year NNN leases at the location. The NNN leases make tenants responsible for operational expenses associated with the building, including taxes, insurance and common area maintenance expenses. Both leases run through 2028, giving the landlord several years of reliable, consistent returns before the option periods. The center sits on South Green River Road (25,000 VPD) in Evansville, Indiana. The local area surrounding the property offers sound demographics to support a center of this size. 117,237 people live within five miles and the average household income within a mile is $72,973. The Mercy Urgent Care Center is an outlot of the Lawndale Shopping Center, which is home to many recognizable retailers, such as Big Lots, Ruler Foods (Kroger), Dollar Tree, Planet Fitness, Schnucks among other national and local tenants. Many other businesses along Green River Road also drive traffic to the site, including Thortons, McDonald’s, CVS, KFC, and Walgreens. This center provides a significant opportunity to acquire a newly constructed building with e-commerce and pandemic resistant tenants ideally located in one of the main retail corridors in Evansville, the third largest city in the state of Indiana.

Investment Highlights

  • 8,119 SF Three-Tenant Retail Center Located in Evansville, Indiana
  • No Deferred Maintenance| Built in 2019 | Drive-Thru Equipped
  • All Tenants on NNN Leases | Minimal Landlord Responsibilities
  • 117,237 People Living Within 5 Miles of Site | $72,973 Average Household Income within 1 Mile
  • Outparcel to Lawndale Shopping Center | Big Lots, Ruler Foods, Dollar Tree, United States Post Office, Planet Fitness, Schnucks and More
  • Other Retailers Drive Traffic to S Green River Rd | Thortons, Papa Murphy's, Sherwin-Williams, Sonic, Walgreens, McDonald's and More
  • Over 25,000 Vehicles on S. Green River Road Daily

Exclusively Listed By

Shopping Strip

Mercy Urgent Care Center

Listing Price: $2,650,000

Cap Rate
6.40%
Gross SF
8,119
Rentable SF
8,119
Price/Gross SF
$326.39
Lot Size
0.86 acres
Year Built
2019

Investment Highlights

  • 8,119 SF Three-Tenant Retail Center Located in Evansville, Indiana
  • No Deferred Maintenance| Built in 2019 | Drive-Thru Equipped
  • All Tenants on NNN Leases | Minimal Landlord Responsibilities
  • 117,237 People Living Within 5 Miles of Site | $72,973 Average Household Income within 1 Mile
  • Outparcel to Lawndale Shopping Center | Big Lots, Ruler Foods, Dollar Tree, United States Post Office, Planet Fitness, Schnucks and More
  • Other Retailers Drive Traffic to S Green River Rd | Thortons, Papa Murphy's, Sherwin-Williams, Sonic, Walgreens, McDonald's and More
  • Over 25,000 Vehicles on S. Green River Road Daily

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review Mercy Urgent Care Center in Evansville, IN. The 8,119 square foot building was built in 2019 and sits on 0.86 acres of land. The center is currently 100% occupied and anchored by Mercy Urgent Care and drive-thru equipped Donatos Pizza. Both tenants recently signed 10-year NNN leases at the location. The NNN leases make tenants responsible for operational expenses associated with the building, including taxes, insurance and common area maintenance expenses. Both leases run through 2028, giving the landlord several years of reliable, consistent returns before the option periods. The center sits on South Green River Road (25,000 VPD) in Evansville, Indiana. The local area surrounding the property offers sound demographics to support a center of this size. 117,237 people live within five miles and the average household income within a mile is $72,973. The Mercy Urgent Care Center is an outlot of the Lawndale Shopping Center, which is home to many recognizable retailers, such as Big Lots, Ruler Foods (Kroger), Dollar Tree, Planet Fitness, Schnucks among other national and local tenants. Many other businesses along Green River Road also drive traffic to the site, including Thortons, McDonald’s, CVS, KFC, and Walgreens. This center provides a significant opportunity to acquire a newly constructed building with e-commerce and pandemic resistant tenants ideally located in one of the main retail corridors in Evansville, the third largest city in the state of Indiana.

Exclusively Listed By

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