Historic Evansville Building with
For Sale
$1,057,000
810 SE 1st St, Evansville, IN 47713
Historic 5,241 SF Evansville building with four luxury units.
Property Size5,241 SF
Price / SF$201.68
Days on Market244
Property Features for 810 SE 1st St
General Information
Standard status
Active
Size
5,241 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Riverside
Building Details
Building Size
5,241 SF
Year Built
1869
Listing Agency:
NAI Commercial Services
Listed By:
Scott Hyatt, CCIM · License #IN #RB14016323
(812) 430-4989
Source:
Naiprime
Added: Feb 26
Changed: Oct 25
Last Checked: Oct 28 at 7:04AM
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
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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.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,838
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,760
$956.8K
Cap Rate 7%
$683,400
$683.4K
Cap Rate 9%
$531,533
$531.5K
Market Conditions
NOI Build-Up for 5,241 SF
Gross rent
$72.3K $13.80/SF
− Vacancy
−$4.0K −$0.76/SF
EGI
$68.3K $13.04/SF
− OpEx
−$20.5K −$3.91/SF
NOI
$47.8K $9.13/SF
Area
Evansville, IN
Vacancy
5.51%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,760
Cap Rate 7%
$683,400
Cap Rate 9%
$531,533
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,068
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
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
