Flex Warehouse with Drive-In
1332 E Division St Evansville, IN 47711
1332 E Division St, Evansville, IN, 47711
Contact for pricing
For Sale
Contact for pricing
Flex warehouse with two private offices and a newly remodeled, AC-equipped large garage with one 10x10 drive-in door.
Property Size1,410 SF
Lot Size0.09 Acres
Price / SF$129.79
Days on Market101
Property Features for 1332 E Division St
General Information
- Standard status
- Active
- Size
- 1,410 SF
- Lot size
- 0.09 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1953
Listing agency
Woodward Commercial Realty Inc
(812) 708-0106
Listed by
Greg Folz · License #IN RB14046879
Source
Crexi
Added: Apr 14 Updated: Jul 22 at 8:16PM Checked: Jul 22 at 8:16PM
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 Woodward Commercial Realty Inc
Investment Insights
Based on property information with market context.
This commercial flex property totals approximately 1,410 SF and includes two private offices plus a large garage area. The garage is newly remodeled and features air conditioning, supported by recent improvements including a new roof (2024), new interior and exterior paint, new HVAC, and garage insulation. The property also has one drive-in door measuring 10x10.
The site is set on 0.09 acres and is positioned for visibility along Lloyd Expressway (AADT: 66,058), with access to the surrounding transportation network including US-41 and I-69. Parking is available via street parking and in the rear lot. Zoning is C-4 Commercial, and all utilities are reported to be available to the site.
Additional details include street and rear-lot parking, and annual property taxes listed for 2025 Pay 2026 of $873.30.
The site is set on 0.09 acres and is positioned for visibility along Lloyd Expressway (AADT: 66,058), with access to the surrounding transportation network including US-41 and I-69. Parking is available via street parking and in the rear lot. Zoning is C-4 Commercial, and all utilities are reported to be available to the site.
Additional details include street and rear-lot parking, and annual property taxes listed for 2025 Pay 2026 of $873.30.
Key Highlights
- ±1,410 SF commercial/flex building with 2 private offices and a large AC‑equipped garage
- One 10x10 drive‑in door and newly remodeled garage
- High visibility on Lloyd Expressway with AADT of 66,058
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.4k | $18.00 |
| − Vacancy | −$1.8k | −$1.26 |
| EGI | $23.6k | $16.74 |
| − OpEx | −$8.3k | −$5.86 |
| NOI | $15.3k | $10.88 |
1,410 SF · lease $18.00/SF/yr · vacancy 7.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$219.2K
$191.8K – $255.7K
NOI $15,342 @ 7.0% cap · market cap 8.38%
Second Best
Warehouse
$208.8K
$182.7K – $243.6K
NOI $14,618 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$350.0K
$306.3K – $408.4K
NOI $24,503 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
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FAQs
What type of property is this?
Flex space - Flex warehouse with two private offices and a newly remodeled, AC-equipped large garage with one 10x10 drive-in door.
Where is this flex space located?
The property is located at 1332 E Division St Evansville, IN.
What is the asking price?
The asking price for this property is $183,000.
What are key features of this property?
This property features: ±1,410 SF commercial/flex building with 2 private offices and a large AC‑equipped garage; One 10x10 drive‑in door and newly remodeled garage; High visibility on Lloyd Expressway with AADT of 66,058
