Corner Flex
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6301 Maxwell Avenue, Evansville, IN 47715
Flexible commercial building with multiple access points and exposure at Maxwell Avenue and N Burkhardt Road.
Property Size4,140 SF
Lot Size1.03 Acres
Price / SF$458.94
Days on Market114
Property Features for 6301 Maxwell Avenue
General Information
Standard status
Active
Size
4,140 SF
Class
C
Lot size
1.03 Acres
Property subtype
Industrial, Mixed Use
Additional Details
Road Access
Yes
Building Details
Year Built
1979
Buildings
1
Building Size
4,140 SF
Listing Agency:
EXP Commercial
Listed By:
Jeremy Morris · License #RB20000784
Source:
Crexi
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 3:37PM
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 EXP Commercial
Investment Insights
Based on property information with market context.
The property includes a 4,140-square-foot flex/industrial building constructed in 1979 on a 1.03-acre parcel. The existing structure is identified as suitable for showroom, specialty trade office, automotive service, and flex-space uses, with room on the site for parking, equipment storage, or potential expansion.
Positioned at the corner of Maxwell Avenue and N Burkhardt Road, the property has high-visibility frontage and multiple ingress and egress points. Lowe's, Discount Tire, and Aldi are directly across the street, placing the site among established retail and service businesses in Evansville. The address is 6301 Maxwell Avenue, Evansville, IN 47715.
Positioned at the corner of Maxwell Avenue and N Burkhardt Road, the property has high-visibility frontage and multiple ingress and egress points. Lowe's, Discount Tire, and Aldi are directly across the street, placing the site among established retail and service businesses in Evansville. The address is 6301 Maxwell Avenue, Evansville, IN 47715.
Key Highlights
- 4,140 SF flex/industrial building constructed in 1979
- 1.03‑acre commercial parcel
- Corner location at Maxwell Avenue and N Burkhardt Road
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
$56,149
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
2.96%
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%
$1,122,980
$1.1M
Cap Rate 7%
$802,129
$802.1K
Cap Rate 9%
$623,878
$623.9K
Market Conditions
NOI Build-Up for 4,140 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
$89.4K $21.60/SF
− Vacancy
−$9.2K −$2.22/SF
EGI
$80.2K $19.38/SF
− OpEx
−$24.1K −$5.81/SF
NOI
$56.1K $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 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%
$1,122,980
Cap Rate 7%
$802,129
Cap Rate 9%
$623,878
Alternative Uses
Best Use
Retail
$802.1K
$701.9K – $935.8K
NOI $56,149 @ 7.0% cap · market cap 2.96%
Second Best
Flex RnD
$643.5K
$563.1K – $750.8K
NOI $45,047 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$1.03M
$899.3K – $1.20M
NOI $71,945 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Well-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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with multiple access points and exposure at Maxwell Avenue and N Burkhardt Road.
Where is this flex space located?
The property is located at 6301 Maxwell Avenue Evansville, IN.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 4,140 SF flex/industrial building constructed in 1979; 1.03‑acre commercial parcel; Corner location at Maxwell Avenue and N Burkhardt Road
