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    Prime Office Space, Evansville, IN Title is generated by Realmo AI

    2610 S Green River Road, Evansville, IN 47715

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    For Sale
    $699,900

    Professional, Mixed Use - Evansville, IN

    Type:Mixed Use
    Property size:
    3,000 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $233/SF
    Added:
    Apr 10, 2026
    Days on Market:
    48
    Last Refresh:
    May 27 at 3:06 pm

    Property Features for 2610 S Green River Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Kitchen, Office
    Parking
    33
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, Handicap Access, Office Space, Public Restrooms
    Exterior features
    Handicap Access, Office Space, Public Restrooms
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    82-09-01-004-150.005-026
    Size
    3,000 SF
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3158.1

    Utilities

    Heating system
    Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1995
    Floors in Building
    1
    Flooring type
    Carpet, Tile
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Johnna Hancock-Blake

    Listing agent Johnna Hancock-Blake License #RB14039221

    Listing office Berkshire Hathaway HomeServices Indiana Realty 7220 Eagle Crest Blvd, Evansville, IN

    Listing date Apr 10, 2026

    MLS# 202612466 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.

    HighLights

    • High visibility location just off I‑69 on South Green River Road in a rapidly growing area.
    • Versatile 3,000 sq ft layout designed for immediate use with minimal buildout.
    • Includes two furnished private offices, three conference rooms, reception area, and foyer.
    • Oversized storage area with elaborate shelving and private entrance for operations/inventory.
    • Ample paved parking with ADA‑compliant spaces and approximately 33 additional spots.
    • Suitable for professional offices, medical use, or a variety of business applications.

    Overview

    This well-maintained commercial office space is ideally located just off I-69 on South Green River Road, offering excellent visibility and convenient access in a rapidly growing area. The versatile layout spans over 3,000 square feet and is designed for immediate use with minimal buildout required. The space currently includes two large furnished private offices, three conference rooms, a designated reception area, and a welcoming foyer. A kitchen area is conveniently located near the entrance, with a half bath situated toward the rear for staff. Additional features include an oversized storage area with elaborate shelving and a private entrance, ideal for operations or inventory management. The property offers paved parking with ADA-compliant spaces, plus approximately 33 additional parking spots. Easy ingress and egress ensure accessibility for both employees and clients. Situated on a 0.5-acre lot, this property is perfect for professional offices, medical use, or a variety of business applications, combining flexibility, location, and visibility to support continued growth.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $405.6K
    NOI $36,504 @ 9.00% cap · cautious / downside scenario
    Moderate
    $521.5K
    NOI $36,504 @ 7.00% cap · market / base-case scenario
    Aggressive
    $730.1K
    NOI $36,504 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Office B

    Component $ $/SF
    Gross rent $57.6k $19.20
    − Vacancy −$8.9k −$2.98
    EGI $48.7k $16.22
    − OpEx −$12.2k −$4.06
    NOI $36.5k $12.17
    3,000 SF · lease $19.20/SF/yr · vacancy 15.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $521.5K
    $456.3K – $608.4K (±1% cap)
    NOI $36,504 @ 7.0% cap · market cap 5.22%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $744.8K
    $651.7K – $868.9K (±1% cap)
    NOI $52,134 @ 7.0% cap · market cap 7.45%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.492511
    Latitude
    37.943466

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    FAQs

    What type of property is this?
    Office units - Well-maintained commercial office space with high visibility and growth opportunity.
    Where is this office units located?
    The property is located at 2610 S Green River Road Evansville, IN.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: High visibility location just off I‑69 on South Green River Road in a rapidly growing area.; Versatile 3,000 sq ft layout designed for immediate use with minimal buildout.; Includes **two furnished private offices, three conference rooms, reception area, and foyer.**
    (812) 449-9056
    We can help!
    Listing Contact
    Johnna Hancock-Blake
    Real Estate License ID: RB14039221
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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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