Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multi-Tenant Office Park For Lease Title is generated by Realmo AI

    5401 Vogel Rd, Evansville, IN 47715

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12 SF/Yr $45,122/Mo (calc)

    East side office park with immediate occupancy available.

    Type:Office
    Property size:
    45,122 SF
    Added:
    Nov 21, 2025
    Days on Market:
    178
    Last Refresh:
    Dec 3 at 5:44 am

    Property Features for 5401 Vogel Rd

    General Information

    Standard status
    Active
    Size
    45,122 SF
    Property subtype
    Office

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 5401 Vogel Rd Contact us

    We can help!

    Listing Contact
    Scott Hyatt, CCIM
    Scott Hyatt, CCIM

    Listing agent Scott Hyatt, CCIM License #IN #RB14016323

    Listing office NAI Prime Commercial

    Listing date Nov 21, 2025

    Source Naiglobal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Prime Commercial

    HighLights

    • Prime location on Evansville's east side with convenient access to Green River Road, Burkhardt Road, Lloyd Expressway, and I‑69.
    • Professionally managed with beautifully maintained grounds.
    • Ample and convenient on‑site parking.
    • Immediate occupancy available.
    • Pylon signage available.
    • Located in a vibrant business district with dining, retail, and recreational amenities.

    Overview

    Vogel Business Park is a multi-tenant office park comprising eight buildings on 3.54 acres. It is located on Evansville’s east side, providing convenient access to Green River and Burkhardt Roads, as well as the Lloyd Expressway and I-69. The property is positioned in the heart of Evansville's bustling business district, offering an array of conveniences. The location provides connectivity for employees and visitors with easy access to major highways. Nearby, there is a mix of dining options, retail establishments, and recreational facilities. The area is also in close proximity to landmarks such as Evansville Museum, Angel Mounds State Historic Site, and Mesker Park Zoo & Botanic Garden. The property is professionally managed with maintained grounds and pylon signage. It is suited for professional services, such as accounting, engineering, insurance or health care. Ample on-site parking is available. The property is available for immediate occupancy. Current tenants include Army Career Center, Peabody Investments Corp., Wessler Engineering, Field & Main Insurance, and Shelter Insurance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Healing Arts Collective Alternative Medicine Practice Better Business Bureau ... Charitable Organization Vogel Business Park Business Service Center Randall Oliver Pediatrician Transitional Services Inc Home Health Care Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.485599
    Latitude
    37.9870761

    Nearby Similar for Lease

    • $3,170/Mo
      4,755 SF

      Prime Location Mixed-Use Opportunity

      Mixed-use property with high traffic, ideal for retail or office.
      4115 E Morgan Avenue, Evansville, IN 47715
      View Details
    • $125 SF/Yr
      200 SF

      Evansville Retail Space For Rent

      Retail space available in a convenient Evansville location.
      4029 S Morgan Avenue, Evansville, IN 47715
      View Details
    • $4,037/Mo
      3,460 SF

      Renovated Office Space in Evansville

      Landmark building with quality office space available for lease.
      915 Main Street, Evansville, IN 47708
      View Details
    • $2,700/Mo
      2,400 SF

      Medical Office Space Available

      Office suite with exam rooms, ideal for medical professionals.
      2809 Lincoln Avenue, Evansville, IN 47714
      View Details
    • $2,476/Mo
      2,122 SF

      Renovated Office Space in Evansville

      Landmark building with quality office space available for lease.
      915 Main Street, Evansville, IN 47708
      View Details
    • $3,524/Mo
      2,643 SF

      Move-in Ready Office with Aquarium

      Well-maintained office building with unique features and ample parking.
      15 Vann Avenue, Evansville, IN 47714
      View Details
    • $28 SF/Yr
      2,500 SF

      Retail/Fitness Space in Evansville

      2,500 SF retail/fitness space in premier mixed-use development.
      6432 E. Florida St., Suite 102, Evansville, IN 47715
      View Details
    • $7 SF/Yr
      2,600 SF

      Versatile Flex Space Available

      Adaptable space with office, retail, and warehouse areas.
      2526 N. Burkhardt Rd., Evansville, IN 47715
      View Details
    • $14 SF/Yr
      1,900 SF

      Retail Space in High-Traffic Area

      1,900 SF retail space in Evansville's thriving west side.
      5225 Pearl Dr Suite B, Evansville, IN 47712
      View Details
    • $9 SF/Yr
      2,250 SF

      Prime Retail/Office Space Available

      Highly visible corner location suitable for retail or office use.
      4824 Lincoln Avenue, Evansville, IN 47715
      View Details
    • $7 SF/Yr
      5,000 SF

      Retail Spaces on Covert Avenue

      Retail spaces available in a high-traffic commercial area.
      1321 Covert Avenue, Evansville, IN 47714
      View Details
    • $7 SF/Yr
      2,600 SF

      Versatile Flex Space Available

      Adaptable space with office, retail, and warehouse areas.
      2526 N. Burkhardt Rd., Evansville, IN 47715
      View Details

    FAQs

    What type of property is this?
    Office building - East side office park with immediate occupancy available.
    Where is this office building located?
    The property is located at 5401 Vogel Rd Evansville, IN.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Evansville's east side with convenient access to Green River Road, Burkhardt Road, Lloyd Expressway, and I‑69.; Professionally managed with beautifully maintained grounds.; Ample and convenient on‑site parking.
    (812) 430-4989
    We can help!
    Listing Contact
    Scott Hyatt, CCIM
    Scott Hyatt, CCIM
    Real Estate License ID: IN #RB14016323
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    5401 Vogel Rd, Evansville, IN 47715
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!