Industrial
For Sale
Contact for pricing
1416 MEYER AVE, Evansville, IN 47710
Warehouse property offering an established industrial building for commercial use.
Property Size8,150 SF
Price / SF$201.57
Days on Market134
Property Features for 1416 MEYER AVE
General Information
Standard status
Active
Size
8,150 SF
Property subtype
Industrial
Net Operating Income
$188,927
Building Details
Year Built
1962
Year Renovated
2024
Stories
1
Units
1
Listing Agency:
Fortis Net Lease
Listed By:
Doug Passon · License #MI 6502361821
(248) 254-3407
Source:
Crexi
Added: Apr 23
Changed: Sep 2
Last Checked: Aug 31 at 11:37PM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
This industrial warehouse property contains 8,150 square feet within a building constructed in 1962. The asset is located at 1416 Meyer Ave in Evansville, Indiana, with the 47710 ZIP code.
Key Highlights
- 8,150 SF industrial warehouse
- Building constructed in 1962
- Located at 1416 Meyer Ave, Evansville, IN 47710
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,493
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,689,860
$1.7M
Cap Rate 7%
$1,207,043
$1.2M
Cap Rate 9%
$938,811
$938.8K
Market Conditions
NOI Build-Up for 8,150 SF
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.
Gross rent
$107.6K $13.20/SF
− Vacancy
−$8.2K −$1.00/SF
EGI
$99.4K $12.20/SF
− OpEx
−$14.9K −$1.83/SF
NOI
$84.5K $10.37/SF
Area
Evansville, IN
Vacancy
7.60%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,689,860
Cap Rate 7%
$1,207,043
Cap Rate 9%
$938,811
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,493 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,630 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47710, IN
18,470
Population
9,119
Households
2
Avg Household Size
39
Median Age
17%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
2,148
Density / Sq Mi
$45,324
Median Household Income
$33,718
Median Earnings
$857
Median Rent
$131,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Locust Hill Storage Facility — 3518 Kratzville Rd, Evansville, IN 47710
- Store-N-Lock Storage & Packing - Kratzville Rd — 3518 Kratzville Rd, Evansville, IN 47710
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property offering an established industrial building for commercial use.
Where is this warehouse located?
The property is located at 1416 MEYER AVE Evansville, IN.
What is the asking price?
The asking price for this property is $1,642,800.
What are key features of this property?
This property features: 8,150 SF industrial warehouse; Building constructed in 1962; Located at 1416 Meyer Ave, Evansville, IN 47710
