Historic Evansville Building with
810 SE 1st St Evansville, IN 47713
810 SE 1st St, Evansville, IN, 47713
$1,057,000
For Sale
$1,057,000
Historic 5,241 SF Evansville building with four luxury units.
Property Size5,241 SF
Price / SF$201.68
Days on Market146
Property Features for 810 SE 1st St
General Information
- Standard status
- Active
- Size
- 5,241 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1869
Listing agency
NAI Commercial Services
(812) 430-4989
Listed by
Scott Hyatt, CCIM · License #KY #201456
(812) 430-4989
Source
Naiglobal
Added: Feb 26 Updated: Jul 10 at 3:55PM Checked: Jul 21 at 6:24AM
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 NAI Commercial Services
Investment Insights
Based on property information with market context.
This historic property, constructed in 1869, is located in Evansville, IN. The property includes a 5,241 SF building and carriage house, featuring four units. The building has been renovated with modern amenities while retaining its architectural character. The units are fully furnished by an interior designer. This property is positioned to capitalize on the area's economic growth and commercial development, making it suitable for office building investors.
Key Highlights
- Prime location in thriving Evansville area
- 5,241 SF building and carriage house with 4 units
- Historic property built in 1869
Local Financial Insights For Multifamily LT 5
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 | $72.3k | $13.80 |
| − Vacancy | −$4.0k | −$0.76 |
| EGI | $68.3k | $13.04 |
| − OpEx | −$20.5k | −$3.91 |
| NOI | $47.8k | $9.13 |
5,241 SF · lease $13.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$683.4K
$598.0K – $797.3K
NOI $47,838 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$628.4K
$549.9K – $733.2K
NOI $43,989 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,078 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Historic 5,241 SF Evansville building with four luxury units.
Where is this quadplex located?
The property is located at 810 SE 1st St Evansville, IN.
What is the asking price?
The asking price for this property is $1,057,000.
What are key features of this property?
This property features: Prime location in thriving Evansville area; **5,241 SF building and carriage house with 4 units**; Historic property built in 1869
