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About the Listing - 124795003
525 Lafayette Avenue presents an opportunity to acquire a compact, income-producing commercial property along a highly visible corridor near downtown Lebanon, Indiana. The approximately 1,130-square-foot brick building is currently occupied by Pizza King, an established Indiana restaurant brand with roots dating back to 1956. The property generates $24,000 in annual base rent and offers investors a straightforward small-format commercial asset with an established operating location and recognizable tenant. Investment highlights: -Established Restaurant Tenant – Pizza King -$2,000/month base rent | $24,000 annual gross rent -Approximately 1,130 SF commercial building -Highly visible Lafayette Avenue frontage -Distinctive brick construction with murals on public-facing elevations -Across Lafayette Avenue from Americana -The Lebanon Grill -Located near Global Packaging LLC and other commercial uses along the Lafayette Avenue corridor -Established Indiana restaurant concept with Pizza King tracing its history to 1956 Lot & Location: 525 Lafayette Avenue occupies a highly visible 4,356-square-foot corner parcel along Lafayette Avenue, an established commercial corridor leading into downtown Lebanon. The site benefits from approximately 3,537 vehicles per day along one adjoining roadway, seven designated parking spaces, and strong exposure from multiple directions. Lease & Financial Highlights: The property is currently leased at a gross rental rate of $2,000 per month, generating $24,000 in annual gross rental income. Under the current lease structure, the owner is responsible for real estate taxes and building insurance. Annual property taxes are estimated at $1,956, based on a 2% tax rate applied to the assessed improvement value, and building insurance is estimated at $3,000 annually. Based on these known and estimated expenses, the property produces a reconstructed Net Operating Income (NOI) of approximately $19,044 per year. Property Improvements / Capital Updates: -Current owner purchased the property in 2023 and completed significant updates that year. -HVAC system replaced in 2023. -Major portion of the roof replaced in 2023. -Remaining section of the roof replaced in 2026. -Property was updated/remodeled in 2023. Lease / Maintenance Responsibilities: Landlord: Responsible for HVAC repair/replacement and roof repair/replacement. Tenant: Responsible for routine HVAC maintenance. Investment Note: The recent HVAC and roof replacements reduce near-term exposure to two of the property's larger landlord-responsibility capital items.
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 1 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 1130
- Below Ground Sq Ft: 0
- Basement: NA
- Other: https://www.crexi.com/properties/2683842/indiana-pizza-king-building--525-lafayette-ave-lebanon-in-46052
- Water: City
Exterior Details
- Garage Capacity: 0 car
- Zoning: C-3 Commercial
- Roof: Shingle
- Others: Leased- Pizza King Tenant
- Sewer: City
- Parking Features: Paved- 7 Spaces
Financial Details
- Tax Amount: $1,956
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
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525 Lafayette Ave Lebanon, IN 46052
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