Historic Mixed-Use Building with
18-20 Northwest 6th Street Evansville, IN 47708
For Sale
Contact for pricing
Two-story mixed-use building with a renovated second-floor short-term rental plus ground-floor commercial space in shell condition.
Property Size8,230 SF
Price / SF$106.32
Days on Market171
Property Features for 18-20 Northwest 6th Street
General Information
- Standard status
- Active
- Size
- 8,230 SF
- Property subtype
- Mixed Use, Retail, Hospitality
Building Details
- Year Built
- 1906
Listing Agency:
Market Retail Partners
Listed By:
Kevin Fulton · License #TN 313966
Source:
Crexi
Added: Feb 3
Changed: Jul 23
Last Checked: Jul 23 at 3:41PM
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 Market Retail Partners
Investment Insights
Based on property information with market context.
Historic, two-story mixed-use building in downtown Evansville offering both residential income and dedicated commercial space. The renovated second-floor unit is approximately 1,950 SF and operates as a 3-bedroom, 1-bath short-term rental listed on Airbnb for over 7 years. The ground-floor commercial space is approximately 15,000 SF and currently in shell condition.
At the rear of the property, a two-story carriage house includes approximately 1,400 SF of second-floor loft space, adding additional flexibility for office, studio, or auxiliary use. The building is positioned for hospitality concepts, with proximity to the Ford Center and the Victory Theatre noted in the listing.
An owner-user can tailor the ground-floor footprint to a restaurant, bar, or entertainment concept, while maintaining the existing short-term rental. Qualified inquiries only; owner/agent.
At the rear of the property, a two-story carriage house includes approximately 1,400 SF of second-floor loft space, adding additional flexibility for office, studio, or auxiliary use. The building is positioned for hospitality concepts, with proximity to the Ford Center and the Victory Theatre noted in the listing.
An owner-user can tailor the ground-floor footprint to a restaurant, bar, or entertainment concept, while maintaining the existing short-term rental. Qualified inquiries only; owner/agent.
Key Highlights
- 1906‑built two‑story mixed‑use building in Downtown Evansville.
- 1,950 SF second‑floor short‑term rental has been completely renovated and offers 3BR/1BA.
- Short‑term rental unit operated as The Loft on 6th and has been listed on Airbnb for 7+ years.
Financial Insights For Apartment 5plus
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 | $133.3k | $16.20 |
| − Vacancy | −$7.7k | −$0.94 |
| EGI | $125.6k | $15.26 |
| − OpEx | −$56.5k | −$6.87 |
| NOI | $69.1k | $8.39 |
8,230 SF · lease $16.20/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.70M – $2.27M
NOI $136,289 @ 7.0% cap · market cap 15.58%
Second Best
Mixed Use
$1.35M
$1.18M – $1.57M
NOI $94,439 @ 7.0% cap · market cap 10.79%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $143,020 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
FAQs
What type of property is this?
Short term rental property - Two-story mixed-use building with a renovated second-floor short-term rental plus ground-floor commercial space in shell condition.
Where is this short term rental property located?
The property is located at 18-20 Northwest 6th Street Evansville, IN.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 1906‑built two‑story mixed‑use building in Downtown Evansville.; 1,950 SF second‑floor short‑term rental has been completely renovated and offers 3BR/1BA.; Short‑term rental unit operated as The Loft on 6th and has been listed on Airbnb for 7+ years.
