Light Value-Add Opportunity: New ownership will have the opportunity to add value to the property through a light renovation, such as replacing the countertops, painting the cabinets, replacing the fixtures, or adding stainless steel appliances.
Well Maintained Asset: Situated on two lakes, Pavilion Lakes offers tenants a park-like setting that has been exceptionally maintained. Current ownership has spent over $2.9 million in capital expenditures, including exterior paint & wood repair, landscaping, asphalt, exterior lighting, clubhouse renovation, pool improvements, adding washer/dryer connections, and wood flooring.
Additional Upside Potential: New ownership can also potentially take advantage of additional factors that could lead to increased property performance, which include:
Proximity to Evansville’s Best Retail: Pavilion Lakes is ideally positioned within 5 minutes of Evansville’s premier shopping centers, including:
Evansville Demand Drivers: The Evansville area is home to several large employers, including:
Central Location to Major U.S. Markets: The total population within a 300-mile radius of Evansville is 43,287,941, and Evansville is under a 4-hour drive from major MSA’s including St. Louis, Indianapolis, Cincinnati, Louisville, and Nashville.