Evansville Flex Space For
For Sale
Contact for pricing
2510-2512 N Cullen Ave, Evansville, IN 47715
Flex space with office and warehouse components, near I-69.
Property Size21,600 SF
Price / SF$0.06
Days on Market329
Property Features for 2510-2512 N Cullen Ave
General Information
Standard status
Active
Size
21,600 SF
Property subtype
Industrial
Lease Term
NNN
Building Details
Building Size
21,600 SF
Year Built
1983
Properties For Sale
at 2510-2512 N Cullen Ave
2512 Cullen Suite D
Size
2,243 SF
Type
Flex Space
Term
Negotiable
Listing Agency:
SVN | The Martin Group
Listed By:
Chris Stuard · License #IN #RB14048888
(812) 589-3368
Source:
Svn
Added: Nov 21, 2025
Changed: Oct 11
Last Checked: Oct 14 at 10:03PM
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 SVN | The Martin Group
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Investment Insights
Based on property information with market context.
Located on the east side of Evansville, Indiana, just north of Morgan Avenue and west of I-69, this property offers convenient access to major thoroughfares, providing quick access to all of Evansville and its surrounding areas. The property is zoned M-1 and features two well-maintained buildings. One available space, located at 2510 Cullen Ave Suite C, measures 3,900 square feet. The other space, situated at 2512 Cullen Ave Suite D, consists of 2,243 square feet and is approximately 60% office and 40% warehouse. With easy access to I-69 and US 41, this property is well-located within the Southern Indiana market, making it an excellent flex space option suitable for office, warehouse, or shop use. The total property size is 21,600 square feet. NNN/CAM is estimated at $1.90/SF.
Key Highlights
- Excellent flex space suitable for office, warehouse, or shop use.
- Convenient location with easy access to I‑69 and US 41.
- Located in the Southern Indiana market, on the east side of Evansville.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,358
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,067,160
$4.1M
Cap Rate 7%
$2,905,114
$2.9M
Cap Rate 9%
$2,259,533
$2.3M
Market Conditions
NOI Build-Up for 21,600 SF
Gross rent
$311.0K $14.40/SF
− Vacancy
−$20.5K −$0.95/SF
EGI
$290.5K $13.45/SF
− OpEx
−$87.2K −$4.03/SF
NOI
$203.4K $9.41/SF
Area
Evansville, IN
Vacancy
6.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,067,160
Cap Rate 7%
$2,905,114
Cap Rate 9%
$2,259,533
Alternative Uses
Best Use
Office B
$3.75M
$3.29M – $4.38M
NOI $262,829 @ 7.0% cap · market cap 20,063.28%
Second Best
Flex RnD
$3.36M
$2.94M – $3.92M
NOI $235,030 @ 7.0% cap · market cap 17,941.22%
Theoretical Best
Office A
$5.36M
$4.69M – $6.26M
NOI $375,363 @ 7.0% cap · market cap 28,653.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47715, IN
28,959
Population
14,451
Households
2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
22.0 sq mi
ZIP Area
1,316
Density / Sq Mi
$59,821
Median Household Income
$40,137
Median Earnings
$1,009
Median Rent
$191,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with office and warehouse components, near I-69.
Where is this flex space located?
The property is located at 2510-2512 N Cullen Ave Evansville, IN.
What are key features of this property?
This property features: Excellent flex space suitable for office, warehouse, or shop use.; Convenient location with easy access to I‑69 and US 41.; Located in the Southern Indiana market, on the east side of Evansville.
