Manufacturing Facility With
For Sale
Contact for pricing
1919 Buchanan Rd, Evansville, IN 47720
2019-built facility with central HVAC and three-phase power.
Property Size2,688 SF
Price / SF$130.21
Days on Market152
Property Features for 1919 Buchanan Rd
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Industrial
Zoning
M-2
Building Details
Year Built
2019
Buildings
1
Stories
1
Listing Agency:
FC Tucker Commercial
(812) 473-6677
Listed By:
Kenneth Newcomb · License #IN RB14051745
Source:
Crexi
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 7:48PM
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 FC Tucker Commercial
Investment Insights
Based on property information with market context.
This 2,688-square-foot manufacturing facility was constructed in 2019 and includes central HVAC and three-phase power. The sale includes the existing equipment package, including more than 20 heavy tools, machining tools, hand tools, steel racking, and related manuals.
Located at 1919 Buchanan Rd in Evansville, Indiana, the property carries M-2 zoning. The included equipment supports a ready-made manufacturing setup while preserving flexibility for an operator seeking an established industrial workspace.
Located at 1919 Buchanan Rd in Evansville, Indiana, the property carries M-2 zoning. The included equipment supports a ready-made manufacturing setup while preserving flexibility for an operator seeking an established industrial workspace.
Key Highlights
- 2,688 SF manufacturing facility built in 2019
- M‑2 zoning
- Central HVAC and three‑phase power
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
$27,867
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
7.96%
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%
$557,340
$557.3K
Cap Rate 7%
$398,100
$398.1K
Cap Rate 9%
$309,633
$309.6K
Market Conditions
NOI Build-Up for 2,688 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
$35.5K $13.20/SF
− Vacancy
−$2.7K −$1.00/SF
EGI
$32.8K $12.20/SF
− OpEx
−$4.9K −$1.83/SF
NOI
$27.9K $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%
$557,340
Cap Rate 7%
$398,100
Cap Rate 9%
$309,633
Alternative Uses
Best Use
Warehouse
$398.1K
$348.3K – $464.5K
NOI $27,867 @ 7.0% cap · market cap 7.96%
Second Best
Industrial
$361.5K
$316.3K – $421.8K
NOI $25,307 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$667.3K
$583.9K – $778.5K
NOI $46,712 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 47720, IN
17,188
Population
7,285
Households
2.4
Avg Household Size
44
Median Age
33%
College-Educated
93%
High-School Grad
55.6 sq mi
ZIP Area
309
Density / Sq Mi
$76,968
Median Household Income
$47,143
Median Earnings
$1,019
Median Rent
$206,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 2019-built facility with central HVAC and three-phase power.
Where is this manufacturing property located?
The property is located at 1919 Buchanan Rd Evansville, IN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,688 SF manufacturing facility built in 2019; M‑2 zoning; Central HVAC and three‑phase power
