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    Kenneth Newcomb, Evansville, IN

    License ID: RB14051745
    F C Tucker Commercial
    Association
    Indiana Commercial Board Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (800) 564-1024
    Office Address:
    7820 Eagle Crest Blvd, Evansville, IN, 47715

    Performance

    Listings
    14

    Listings

    For Sale (6)

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    • Contact for pricing

      Land For Sale

      Commercial land suitable for office or retail development.
      Cullen Ave, Evansville, IN 47715
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    • Contact for pricing

      Corner Lot Near Toyota

      Commercial land with curb cuts near US Hwy 41.
      3559 Us Highway 41, Princeton, IN 47670
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    • Contact for pricing

      East Side Commercial Land For Sale

      4.262+- acre commercial lot on Evansville's east side.
      Marco Dr, Evansville, IN 47715
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    • Contact for pricing

      Commercial Lots Near Interstate 69

      Multiple commercial lots available near growing residential area and I-69.
      11715 N Green River Rd, Evansville, IN 47725
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    • Contact for pricing

      East Side Business Park Land

      Commercial land for sale in East Pointe Business Park.
      Diego Dr, Evansville, IN 47715
      View Details
    • Contact for pricing
      16,380 SF

      Eastside Office Building with Warehouse

      Two-story Class B office with warehouse and receiving dock.
      4004 E Morgan Ave, Evansville, IN 47715
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    For Lease (8)

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      Evansville Office Space Available

      Office spaces available, ranging from 3,297 to 3,428 SqFt.
      4004 E Morgan Ave, Evansville, IN 47715
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    • Contact for pricing

      Evansville Manufacturing and Warehouse Space

      Manufacturing and warehouse facility with ample parking and recent upgrades.
      955 E Diamond Ave, Evansville, IN 47711
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    • $8 SF/Yr
      16,380 SF

      Prime East Side Office Building

      16,380 SF Office Space Available
      4004 Morgan Ave, Evansville, IN 47715
      View Details
    • Contact for pricing

      East Side Office Building Suites

      East side office building with multiple suites available for rent.
      4920 Lincoln Ave, Evansville, IN 47715
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    • Contact for pricing

      900 W Indiana St, Evansville, IN 47710

      Flex space
      900 W Indiana St, Evansville, IN 47710
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    • Contact for pricing

      Class A Office Space Available

      Class A office space in A.E. Cinelli Technology Center.
      3701 Communications Way, Evansville, IN 47715
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    • Contact for pricing

      Former Police Garage with Drive-Thru

      Former police garage with drive-thru and wash bay.
      917 W Indiana St, Evansville, IN 47710
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    • Contact for pricing

      Remodeled Class A Office Space

      First floor office space near downtown and major highways.
      300 E Walnut St, Evansville, IN 47713
      View Details

    Leases and Sales on Map

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    Kenneth Newcomb, Evansville, IN
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    Kenneth Newcomb, Evansville, IN
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