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528 Main St

43,544 SF Retail Building Evansville, IN 47708 $2,683,000 ($62/SF)

Investment Highlights

  • Potential for conversion to residential on upper floors
  • 1904 Beaux Arts architectural style
  • National Register of Historic Buildings
  • 64-space surface parking lot

Executive Summary

Now available, the historic and beautiful beaux arts American Trust Building, located in the heart of Downtown Evansville’s historic district, adjacent to the 1,950-seat Victory Theater and the 10,000-seat Ford Center complex. The American Trust Building is replete with interior and exterior architectural features including: carved limestone façade, copper roof trim, wood and brass doorways, marble wainscoting, vintage gated elevators, high ceilings and more. The property includes an asphalt parking lot with capacity for 64 double parked cars.
This four (4) story building currently has two (2) leased retail spaces on the first floor: 959 SF on Sixth Street and 5,772 SF on Main Street. The first floor also offers a 3,539 SF office with two (2) on-street entry accesses, which is currently leased. The second floor is comprised of two (2) leased suites containing 4,414 SF and 1,947 SF. The third floor is primed for reimagining with 5,000 SF ready to be converted into three to four apartments or several office suites. The fourth floor is occupied by a professional firm possessing an artfully designed 6,025 SF multi-office space with kitchenette and conference rooms. The tenant is open to extending the lease or vacating should a prospective buyer wish to convert the space to residential.
-Beaux Arts architectural style, constructed in 1904
-Basement office and storage
-64-space surface parking lot
-Single and three-phase power supply
-1,600+ AMP power
-Two (2) gated elevators
-Rooftop solar arrays
-Membrane roof replaced within last 5 years
-Marble flooring and wainscoting
-Listed on the National Register of Historic Buildings (82000094)

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
43,544 SF
Building Class
C
Year Built
1904
Price
$2,683,000
Price Per SF
$62
Tenancy
Multiple
Building Height
4 Stories
Building FAR
1.75
Land Acres
0.57 AC
Opportunity Zone
Yes
Zoning
C-3
Parking
64 Spaces (1.15 Spaces per 1,000 SF Leased)
Frontage
190 FT on 6th St

Amenities

  • Signage

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 82-06-30-020-033.013-029
  • 82-06-30-020-039.002-029
Land Assessment
$222,500
Improvements Assessment
$1,128,100
Total Assessment
$1,350,600
  • Listing ID: 33437732

  • Date on Market: 10/7/2024

  • Last Updated:

  • Address: 528 Main St, Evansville, IN 47708

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