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    2331 Washington Ave Evansville, IN 47714

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    For Sale
    $250,000

    Investment opportunity: commercial office paired with residential apartment.

    Property size:
    2,078 SF

    Property Features for 2331 Washington Ave

    General Information

    Size
    2,078 SF

    Building Details

    Year built
    1940

    Source: Scott Hyatt, CCIM Agent Scott Hyatt, CCIM

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

    Overview

    Commercial Office with Residential Apartment

    This property presents an excellent investment opportunity, featuring a 1,050 square foot commercial office unit alongside a well-maintained 2-bedroom, 1-bath residential apartment. Situated in a thriving commercial corridor, the property benefits from a location surrounded by businesses, amenities, and high daily traffic, offering strong visibility and versatility. The location provides convenient access to the Lloyd Expressway and proximity to the University of Evansville. This property is ideal for investors seeking dual income streams or an owner-user looking to operate a business while offsetting expenses with residential rental income. The surrounding area offers attractions and amenities, including Eastland Mall, Olive Garden, Red Lobster, Wesselman Woods Nature Preserve, and Burdette Park. The property is 100% occupied and located on a corner with high traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5212911
    Latitude
    37.9624733

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    FAQs

    What type of property is this?
    Office space - Investment opportunity: commercial office paired with residential apartment.
    Where is this office space located?
    The property is located at 2331 Washington Ave Evansville, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Dual income potential: commercial office unit and residential apartment provide two income streams.; - High-traffic location: situated in a thriving commercial corridor with strong visibility.; - 100% occupied: immediate income generation with existing tenants.
    (812) 430-4989
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    Realmo Value Estimation

    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.

    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.

    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
    2331 Washington Ave Evansville, IN 47714
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