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    Renovated Office Space in Evansville Title is generated by Realmo AI

    915 Main Street, Evansville, IN 47708

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    Claim this Listing
    For Lease
    $2,476/Mo $14 SF/Yr (calc)

    Office - Evansville, IN

    Type:Office
    Property size:
    2,122 SF
    Added:
    Sep 24, 2025
    Days on Market:
    236
    Last Refresh:
    May 17 at 12:06 pm

    Property Features for 915 Main Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking
    2
    Parking features
    Off Street, Paved or Surfaced
    Interior features
    Drywall, 110 Volts, Office Space, Public Restrooms, Reception Area, Other
    Standard status
    Active
    APN
    82-06-29-021-014.001-029
    Size
    2,122 SF

    Utilities

    Heating system
    Forced Air, Hot Water (Heating), Natural Gas
    Cooling system
    Heat Pump, Multi Units

    Building Details

    Year built
    1906
    Floors in Building
    6
    Flooring type
    Carpet, Tile
    Building materials
    Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Stacy Stevens
    Stacy Stevens

    Listing agent Stacy Stevens License #RB14028002

    Listing office Landmark Realty & Development, Inc 915 Main Street, Suite 108, Evansville, IN

    Listing date Sep 24, 2025

    MLS# 202538738 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

    • Landmark building with renovated office space (62,345 sq ft)
    • Excellent condition, ideal for professionals and businesses
    • Two 4,000‑pound capacity elevators
    • Brick construction
    • Off‑street parking
    • Multiple heating and cooling systems

    Overview

    Known as The Curtis Building, this Evansville landmark, originally constructed in 1909, underwent a complete renovation in 1994, transforming it from a warehouse into 62,345 square feet of office space. The available space is 2,122 square feet. The building is in excellent condition, making it suitable for professionals and businesses. The exterior features masonry wood beam framing and brick walls. Inside, the walls are finished with painted brick and drywall, while the floors are covered in carpet and ceramic tile. Two 4,000-pound capacity elevators provide convenient access throughout the building. The property is located at 915 Main Street, Evansville, IN 47708.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Powers Engineering, Inc. Civil Engineer Crawford, Murphy & Tilly, ... Engineering Consultant Massey Law Offices ... Law Firm Bump Laurie B Law Firm Joshua S. Seiler, ... Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.564997
    Latitude
    37.974952

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    FAQs

    What type of property is this?
    Office units - Landmark building with quality office space available for lease.
    Where is this office units located?
    The property is located at 915 Main Street Evansville, IN.
    What is the lease rate?
    The lease rate is $2,476 /Mo.
    What are key features of this property?
    This property features: Landmark building with renovated office space (62,345 sq ft); Excellent condition, ideal for professionals and businesses; Two 4,000‑pound capacity elevators
    (812) 305-5594
    We can help!
    Listing Contact
    Stacy Stevens
    Stacy Stevens
    Real Estate License ID: RB14028002
    Learn More
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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.

    More about this property
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