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    5115 Oak Grove Rd Evansville, IN 47715

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    For Sale
    $995,000

    Two-story building suitable for office, retail, or industrial use.

    Property size:
    22,132 SF
    Lot size:
    2.18 Acres

    Property Features for 5115 Oak Grove Rd

    General Information

    Size
    22,132 SF
    Lot size
    2.18 Acres

    Source: Mike Richardson Real Estate Agent Mike Richardson, CCIM

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

    Overview

    Two-Story Building on Oak Grove

    This two-story building, formerly Reikens Foot Comfort World, is suitable for office, retail, or industrial use. The first floor comprises 12,452 square feet and includes five women’s restrooms, three men’s restrooms, a large retail showroom, three laboratories, three stock rooms with 8-foot shelving, one freight elevator with a 5000-pound capacity, two 10-foot tall ground-level overhead doors, one sunken well with a 10-foot overhead door, and 600 amp 3-phase electric service. Currently, 5000 square feet on the first floor is leased to a church on a month-to-month basis for $1500 per month. The building is wired with Cat5 cabling throughout. The second floor offers 9,680 square feet and features one women’s restroom, one men’s restroom, eight offices, five classrooms or offices, and one kitchenette or breakroom. The property is located on Oak Grove Road in Evansville, Indiana.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Riecken's Foot Comfort ... Orthopedic Shoe Store Kinder Warehouse

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4884338
    Latitude
    37.9898091

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    FAQs

    What type of property is this?
    Office building - Two-story building suitable for office, retail, or industrial use.
    Where is this office building located?
    The property is located at 5115 Oak Grove Rd Evansville, IN.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - Large, versatile 22,132 SF two-story building suitable for office, retail, or industrial use.; - 5000# capacity freight elevator for easy movement of goods between floors.; - Equipped with 600 amp 3-phase electric service.
    (812) 480-7454
    Request Owner's contact information
    5115 Oak Grove Rd Evansville, IN 47715
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    Evansville, IN 47715
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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
    5115 Oak Grove Rd Evansville, IN 47715
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