Auto Shop with Three Service
For Sale
$379,900
2460 Stringtown Rd, Evansville, IN 47711
Fenced premises include a gated rear lot with regraveled surfacing and space for nearly 100 vehicles.
Property Size1,532 SF
Price / SF$247.98
Days on Market10
Property Features for 2460 Stringtown Rd
General Information
Standard status
Active
Size
1,532 SF
Zoning
C-4
Site & Location
Neighborhood
Diamond-Stringtown
Fenced Yard
Yes
Automotive
Service Bays
3
Automotive Uses
auto repair, dealership/vehicle sales
Additional Details
Real Estate Included
Yes
Amenities
built-in desks with granite tops
new flooring
remodeled bathroom
air compressor
Ring cameras
regraveled rear lot
Building Details
Year Built
1964
Listing Agency:
ERA FIRST ADVANTAGE REALTY, INC
Listed By:
Julie Abell
(812) 204-7037
Source:
Kmsrealestategroup
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 2 at 8:21PM
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 ERA FIRST ADVANTAGE REALTY, INC
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Investment Insights
Based on property information with market context.
This auto shop property includes office space with built-in desks topped in granite, updated flooring, and a remodeled bathroom. Three vehicle lifts and an air compressor support service work. Ring cameras are installed, and a carport is excluded from the sale.
Fencing runs along the front and around the rear of the building, with a sliding gate providing access to the rear lot. The rear area has been regraveled and accommodates parking for close to 100 cars. The property is zoned C-4 and was built in 1964.
Fencing runs along the front and around the rear of the building, with a sliding gate providing access to the rear lot. The rear area has been regraveled and accommodates parking for close to 100 cars. The property is zoned C-4 and was built in 1964.
Key Highlights
- Three vehicle lifts and an air compressor
- C‑4 zoning
- Office features granite‑top built‑in desks, new flooring, and a remodeled bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,778
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,560
$415.6K
Cap Rate 7%
$296,829
$296.8K
Cap Rate 9%
$230,867
$230.9K
Market Conditions
NOI Build-Up for 1,532 SF
Gross rent
$33.1K $21.60/SF
− Vacancy
−$3.4K −$2.22/SF
EGI
$29.7K $19.38/SF
− OpEx
−$8.9K −$5.81/SF
NOI
$20.8K $13.56/SF
Area
Evansville, IN
Vacancy
10.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,560
Cap Rate 7%
$296,829
Cap Rate 9%
$230,867
Alternative Uses
Best Use
Retail
$296.8K
$259.7K – $346.3K
NOI $20,778 @ 7.0% cap · market cap 5.47%
Second Best
Industrial
$206.0K
$180.3K – $240.4K
NOI $14,423 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$380.3K
$332.8K – $443.7K
NOI $26,623 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
3
Service bays
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47711, IN
31,266
Population
14,487
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
91%
High-School Grad
16.5 sq mi
ZIP Area
1,895
Density / Sq Mi
$65,398
Median Household Income
$39,114
Median Earnings
$982
Median Rent
$156,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Extreme Gearheads LLC — 1500 Stringtown Rd, Evansville, IN 47711
- Tri-State Towing and Recovery — 1501 N Evans Ave, Evansville, IN 47711
- Tri-State Rebuilders — 1204 e tennessee st, evansville, in 47711
- Wood's Battery LLC — 1263 E Morgan Ave, Evansville, IN 47711
- Tri-State Cylinder Head — 1712 Read St, Evansville, IN 47710
Frequently Asked Questions
What type of property is this?
Auto shop - Fenced premises include a gated rear lot with regraveled surfacing and space for nearly 100 vehicles.
Where is this auto shop located?
The property is located at 2460 Stringtown Rd Evansville, IN.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Three vehicle lifts and an air compressor; C‑4 zoning; Office features granite‑top built‑in desks, new flooring, and a remodeled bathroom
