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Remarkable Property with Commercial Potential

7700 Henze Road, Evansville, IN 47720

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For Sale

$4,900,000

33,000 sq ft property on 35 acres with commercial possibilities.

Type:Mixed Use

Property size:

33,000 SF

Lot size:

35.00 Acres

Price / SF:

$148/SF

HighLights

Sprawling 33,000 sq ft home and grounds on 35 acres with a private lake.
Equestrian center includes a show barn with living quarters, riding arena, and 2 additional horse barns.
Potential for commercial rezoning: explore options for an event center, corporate retreat, or hotel.
Main house features a 2‑story great room, chef's kitchen, elegant dining room, immense master suite with fitness room, and pool area.
11,000 sq ft flexible space suitable for a car museum, sports area, event facility, art gallery, and more.
Garages offer space for 14 cars, plus a guest house and basement with vault and wine cellar.

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Indiana Regional MLS

For Sale

$4,900,000

33,000 sq ft property on 35 acres with commercial possibilities.

Type:Mixed Use

Property size:

33,000 SF

Lot size:

35.00 Acres

Price / SF:

$148/SF

Added:: Jun 16, 2023
Days on Market:: 1118
Last Refresh:: Jun 30 at 7:29 pm

Property Features for 7700 Henze Road

General Information

Standard status: Active
Size: 33,000 SF
Lot size: 35.00 Acres
Property subtype: Mixed Use

Building Details

Year Built: 1997

We can help!

Contact an agent

Indiana Regional MLS

Listing office James Keck -

Listing date Jun 16, 2023

Source Xome

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 James Keck -

HighLights

Sprawling 33,000 sq ft home and grounds on 35 acres with a private lake.
Equestrian center includes a show barn with living quarters, riding arena, and 2 additional horse barns.
Potential for commercial rezoning: explore options for an event center, corporate retreat, or hotel.
Main house features a 2‑story great room, chef's kitchen, elegant dining room, immense master suite with fitness room, and pool area.
11,000 sq ft flexible space suitable for a car museum, sports area, event facility, art gallery, and more.
Garages offer space for 14 cars, plus a guest house and basement with vault and wine cellar.

Overview

This 33,000 square foot property, currently used as a single family residence, offers numerous possibilities for commercial use with successful rezoning. Potential uses include an event center, corporate retreat, corporate headquarters, museum, or boutique hotel. The property includes an 11,000 square foot area suitable for a car collector's museum, recreational sports area, event facility, or private art gallery. The main house features a two-story great room with grand curved staircases, a chef's kitchen, an elegant dining room, a large master suite with a connected fitness room, a family room, and a pool area. The second level includes four bedrooms with full baths, two large offices, a billiards room, a game room, and a media room. The third floor provides ample storage, and the basement offers additional storage and a vault with a wine cellar. The 35-acre grounds include an equestrian center with show barn and living quarters above, a riding arena, two additional horse barns, a guest house, attached and detached garages with space for 14 cars, a lake, and countryside views.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$673.2k	$20.40
− Vacancy	−$67.3k	−$2.04
EGI	$605.9k	$18.36
− OpEx	−$227.2k	−$6.89
NOI	$378.7k	$11.48

33,000 SF · lease $20.40/SF/yr · vacancy 10.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$5.41M

$4.73M – $6.31M (±1% cap)

NOI $378,675 @ 7.0% cap · market cap 7.73%

Second Best

Hotel Hospitality

$3.31M

$2.90M – $3.86M (±1% cap)

NOI $231,739 @ 7.0% cap · market cap 4.73%

Theoretical Best

Office A

$8.19M

$7.17M – $9.56M (±1% cap)

NOI $573,471 @ 7.0% cap · market cap 11.70%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Hotels

Suggested Use

Location Insight

Map
Local Demand

City: Evansville
County: Vanderburgh
State: Indiana
Longitude: -87.6512528
Latitude: 38.0499899

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For sale
Mixed-use properties
IN
Evansville
47720
7700 Henze Road

What type of property is this?

Mixed-use property - 33,000 sq ft property on 35 acres with commercial possibilities.

Where is this mixed-use property located?

The property is located at 7700 Henze Road Evansville, IN.

What is the asking price?

The asking price for this property is $4,900,000.

What are key features of this property?

This property features: Sprawling 33,000 sq ft home and grounds on 35 acres with a private lake.; Equestrian center includes a show barn with living quarters, riding arena, and 2 additional horse barns.; Potential for commercial rezoning: explore options for an event center, corporate retreat, or hotel.