3901 Highway 41Evansville, IN 47711

This exceptional investment opportunity presents a fee-simple, 5,450-square-foot building currently leased to a Denny's franchisee under an absolute NNN lease. Located at 3901 Hwy 41 N in Evansville, Indiana (Vanderburgh County, zip code 47711), this property boasts a strong location with excellent visibility and access from Hwy 41, experiencing 35,000 vehicles per day. The lease commenced January 1, 2000, and features a below-market rent of $13.76 per square foot, translating to a substantial $75,000 annual net operating income (NOI) and a 5.56% cap rate. The asking price is $1,350,000, representing $247.71 per square foot. The property sits on a 1.01-acre lot and benefits from a 10% rent increase every five years, with the next increase scheduled for March 2028. The building is situated adjacent to a Comfort Inn & Suites, sharing access. The five-mile radius boasts a population of 134,000 with an average household income of $61,860, indicating a strong market for this type of establishment. This is a rare opportunity to acquire a well-performing, low-maintenance investment with significant upside potential. The tenant's strong sales history and the below-market rent suggest a high likelihood of lease renewal. The property is considered below replacement cost.