124 Us Highway 66Tell City, IN 47586

This prime Tell City, Indiana retail property offers a significant value-add opportunity. The 30,185 square foot strip center, built in 1978, sits on a 2.43-acre lot and features nine units currently occupied at 59% capacity by five tenants under NNN leases. The property boasts a strong location along US Hwy 66 E, experiencing high traffic counts exceeding 18,000 vehicles daily. With below-market rents and 40% vacancy, there's substantial upside potential for increased NOI. The asking price is $1,050,000, representing a compelling $34.79 per square foot, significantly below the estimated $250/SF replacement value. The property features a well-maintained, rugged standing-seam roof. The current Net Operating Income (NOI) is $44,298, yielding a 4.22% cap rate. Its proximity to Owensboro, KY (a 60,000+ population center, just 30 miles away) further enhances its investment appeal. The property is offered fee simple and presents a rare chance to acquire a well-situated retail asset with considerable upside potential in a growing market. The property's parcel number is 62-18-05-200-009.000-007.