Welborn Plaza Office
For Sale
Contact for pricing
401 SE 6th Street, Evansville, IN 47713
Downtown office units feature gross lease terms, on-site management, and a café.
Property Size250,000 SF
Days on Market110
Property Features for 401 SE 6th Street
General Information
Standard status
Active
Size
250,000 SF
Class
A
Property subtype
Office
Lease Term
Gross
Amenities
cafe
Building Details
Building Size
250,000 SF
Year Built
1971
Properties For Sale
at 401 SE 6th Street Contact us401 SE Sixth St, Suite 106
Size
2,454 SF
Type
Office Building
Term
Negotiable
401 SE Sixth St, Suite 108
Size
1,552 SF
Type
Office Building
Term
Negotiable
401 SE Sixth St, Suite 109
Size
2,518 SF
Type
Office Building
Term
Negotiable
401 SE Sixth St, Suite 202
Size
1,932 SF
Type
Office Building
Term
Negotiable
401 SE Sixth St., Suite 101
Size
2,250 SF
Type
Office Building
Term
Negotiable
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Listing Agency:
SVN | The Martin Group
Listed By:
Chris Stuard · License #IN #RB14048888
(812) 589-3368
Source:
Svn
Added: Jun 29
Changed: Oct 11
Last Checked: Oct 14 at 9:51PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Welborn Plaza is a downtown office property at 401 SE 6th Street in Evansville, Indiana. Built in 1971, the property has been redeveloped as a modern professional office environment with office units suited to office and medical office users.
The property includes an on-site café and property management. Gross lease terms cover the tenant’s occupancy expenses except for communications and janitorial costs, providing a defined structure for ongoing tenancy. The building’s downtown Evansville setting places professional workspace at a central urban address.
The property includes an on-site café and property management. Gross lease terms cover the tenant’s occupancy expenses except for communications and janitorial costs, providing a defined structure for ongoing tenancy. The building’s downtown Evansville setting places professional workspace at a central urban address.
Key Highlights
- Office units suited to office and medical office users
- Gross lease structure with communications and janitorial as additional tenant costs
- On‑site café
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,042,000
Suggested Prices Based on Cap Rates
Cap Rate 5%
$60,840,000
$60.8M
Cap Rate 7%
$43,457,143
$43.5M
Cap Rate 9%
$33,800,000
$33.8M
Market Conditions
NOI Build-Up for 250,000 SF
Gross rent
$4.80M $19.20/SF
− Vacancy
−$744.0K −$2.98/SF
EGI
$4.06M $16.22/SF
− OpEx
−$1.01M −$4.06/SF
NOI
$3.04M $12.17/SF
Area
Evansville, IN
Vacancy
15.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$60,840,000
Cap Rate 7%
$43,457,143
Cap Rate 9%
$33,800,000
Alternative Uses
Best Use
Healthcare Medical
$46.80M
$40.95M – $54.60M
NOI $3,276,000 @ 7.0% cap · market cap 25,200,000.00%
Second Best
Office B
$43.46M
$38.03M – $50.70M
NOI $3,042,000 @ 7.0% cap · market cap 23,400,000.00%
Theoretical Best
Office A
$62.06M
$54.31M – $72.41M
NOI $4,344,480 @ 7.0% cap · market cap 33,419,076.92%
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
2,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 47713, IN
9,916
Population
5,507
Households
1.8
Avg Household Size
35
Median Age
21%
College-Educated
88%
High-School Grad
5.0 sq mi
ZIP Area
1,983
Density / Sq Mi
$37,448
Median Household Income
$29,366
Median Earnings
$931
Median Rent
$85,200
Median Home Value
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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?
Office units - Downtown office units feature gross lease terms, on-site management, and a café.
Where is this office units located?
The property is located at 401 SE 6th Street Evansville, IN.
What are key features of this property?
This property features: Office units suited to office and medical office users; Gross lease structure with communications and janitorial as additional tenant costs; On‑site café
