Bank-Former Drive-Through Restaurant
2521 Washington Avenue Evansville, IN 47714
2521 Washington Avenue, Evansville, IN, 47714
$500,000
For Sale
$500,000
Former bank branch with secure vault, multiple offices, and drive-through service lanes plus 31 paved parking spaces.
Property Size3,356 SF
Price / SF$148.99
Days on Market139
Property Features for 2521 Washington Avenue
General Information
- Standard status
- Active
- Size
- 3,356 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1993
Listing agency
Dauby Real Estate
(812) 777-4611
Listed by
Trae Dauby · License #RB14050340
(812) 777-4611
Source
Xome
Added: Mar 4 Updated: Jul 21 at 2:09AM Checked: Jul 21 at 3:12AM
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 Dauby Real Estate
Investment Insights
Based on property information with market context.
This well-maintained commercial building was formerly operated as a bank branch and includes a reception area, break room, two private offices, two restrooms, spacious storage areas, a dedicated tech room, and a secure vault. The interior offers a mix of private and open space that can support a range of customer-facing and back-of-house needs.
The property is located at 2521 Washington Avenue, Evansville, IN 47714, and is served by existing drive-through service lanes. On-site parking totals 31 paved spaces, providing convenient access for customers and employees.
In its current configuration, the building combines secure, bank-style amenities with drive-through functionality and flexible interior layout for businesses seeking an adaptable site design.
The property is located at 2521 Washington Avenue, Evansville, IN 47714, and is served by existing drive-through service lanes. On-site parking totals 31 paved spaces, providing convenient access for customers and employees.
In its current configuration, the building combines secure, bank-style amenities with drive-through functionality and flexible interior layout for businesses seeking an adaptable site design.
Key Highlights
- Former bank branch built in 1993 with approx. 3,356 SF of commercial space
- Drive‑through service lanes for customer transactions or service‑based concepts
- Secure vault plus reception area, break room, 2 private offices, and dedicated tech room
Local Financial Insights For Retail
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 | $72.5k | $21.60 |
| − Vacancy | −$7.5k | −$2.22 |
| EGI | $65.0k | $19.38 |
| − OpEx | −$19.5k | −$5.81 |
| NOI | $45.5k | $13.56 |
3,356 SF · lease $21.60/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$793.9K
$694.7K – $926.3K
NOI $55,575 @ 7.0% cap · market cap 11.12%
Second Best
Retail
$650.2K
$569.0K – $758.6K
NOI $45,516 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$833.1K
$729.0K – $972.0K
NOI $58,320 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Diamond Valley Federal ...
Credit Union
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - Former bank branch with secure vault, multiple offices, and drive-through service lanes plus 31 paved parking spaces.
Where is this bank located?
The property is located at 2521 Washington Avenue Evansville, IN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Former bank branch built in 1993 with approx. 3,356 SF of commercial space; Drive‑through service lanes for customer transactions or service‑based concepts; Secure vault plus reception area, break room, 2 private offices, and dedicated tech room
