Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1010 S Weinbach Ave Evansville, IN 47714

    Sponsored
    For Sale
    $399,000

    Office - Evansville, IN

    Type:Office
    Lot size:
    0.19 Acres
    Days on Market:
    178
    Last Refresh:
    Feb 1 at 6:06 pm

    Property Features for 1010 S Weinbach Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Kitchen
    Bathrooms
    4
    APN
    82-06-34-017-076.010-027
    Parking
    13
    Parking features
    Paved or Surfaced
    Interior features
    Block, Drywall, 220 Volts
    Exterior features
    220 Volts
    Lot size
    0.19 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1955
    Floors in Building
    2
    Flooring type
    Laminate
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Melinda Counter

    Berkshire Hathaway HomeServices Indiana Realty (812) 455-0370

    Listing agent Melinda Counter (812) 455-0370 License #RB14048173

    Listing date Aug 8, 2025

    MLS# 202530398 Listing URL

    Copyright © 2026 Southwest Indiana Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Updated Office Building For Sale

    Located near the intersection of Washington Avenue and South Weinbach Avenue, this office building offers an updated interior with 7 to 10 offices, kitchen areas, and conference rooms. A convenient 13-space parking lot provides easy access. The building includes two full bathrooms and two half bathrooms. It is equipped with three HVAC systems, two of which are newer, and features a new roof installed in 2021. There are four electric panels, many of which are 20 amp isolated ground circuits. Zoned C1 for multifamily use, the property is situated close to Lic’s Ice Cream, Donut Bank, Wine Tree Liquor Store, Las Americanas store, and various restaurants. The building is ready for a new tenant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    safe haven Halfway House

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.529421
    Latitude
    37.962115

    Nearby Similar for Sale

    • $4,900,000
      33,000 SF

      Remarkable Mixed-Use Property with Equestrian Center

      35-acre property with 33,000 sq ft home and equestrian center.
      7700 Henze Rd, Evansville, IN 47720
      View Details
    • $1,225,000
      0.07 Acres

      Restored Restaurant/Bar Opportunity

      Restored bar and restaurant in downtown Evansville.
      22 NW 6Th St, Evansville, IN 47708
      View Details
    • $325,000
      Pending

      Well-Maintained Duplex in Evansville

      Residential duplex with strong rental potential in a quiet location.
      207 Lorshelna Dr, Evansville, IN 47711
      View Details
    • $236,000
      0.40 Acres

      Mixed-Use Property with Ample Parking

      Mixed-use property featuring multiple buildings and ample parking.
      1319/1321 N 1St Ave, Evansville, IN 47710
      View Details
    • $236,000
      4,126 SF

      Mixed-Use Investment Opportunity

      Mixed-use property with business space, rental units, and ample parking.
      1319/1321 N 1St Ave, Evansville, IN 47710
      View Details
    • $525,000
      8,000 SF

      Versatile Commercial Building in Central Evansville

      Historic 8,000+ sq ft building in Evansville's business district.
      112 Clark St, Evansville, IN 47708
      View Details
    • $164,900
      2,064 SF

      Westside Evansville Duplex Investment

      Duplex with remodeled unit and long-term tenants in place.
      1629 Ewing Ave, Evansville, IN 47712
      View Details
    • $160,000
      1,460 SF

      Evansville Triplex: Investor Opportunity

      Triplex with three apartments, separate entrances, and ample parking.
      515 Washington Ave, Evansville, IN 47713
      View Details
    • $750,000
      Pending

      Renovated Meeting Hall with Rooftop Deck

      Versatile commercial property in downtown Evansville with high visibility.
      212 Main St, Evansville, IN 47708
      View Details
    • New
      $70,000
      725 SF

      Evansville Duplex with Renovation Potential

      Two-unit duplex with renovation potential and new HVAC system.
      1118 E Negley Ave, Evansville, IN 47711
      View Details
    • $125,000
      1,924 SF

      All Brick Duplex Near Park

      All brick duplex near Garvin Park with detached three-car garage.
      313 Maxwell Ave, Evansville, IN 47711
      View Details
    • $540,000
      Pending

      Renovated Mixed-Use Space on Main

      Renovated mixed-use space with exposed brick and versatile layout.
      327 Main St, Evansville, IN 47708
      View Details

    FAQs

    What type of property is this?
    Office building - Updated office building with parking, near amenities, ready for tenant.
    Where is this office building located?
    The property is located at 1010 S Weinbach Ave Evansville, IN.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Updated offices, kitchen areas, and conference rooms; - New roof installed in 2021; - Convenient 13-space parking lot
    (812) 455-0370
    Request Owner's contact information
    1010 S Weinbach Ave Evansville, IN 47714
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1010 S Weinbach Ave
    Evansville, IN 47714
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    1010 S Weinbach Ave Evansville, IN 47714
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Melinda Counter
    Real Estate License ID: RB14048173
    (812) 455-0370
    Learn more
    Google sign-in failed. Please try again or use another login method.