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    344 Red Bank Rd Evansville, IN 47712

    Sponsored
    For Sale
    $250,000

    Wooded 5.58-acre lot; R-1 zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 5.58-acre parcel in Evansville, Indiana, presents a unique development opportunity. Located at 344 S Red Bank Rd, 47712, in Vanderburgh County, this property boasts a desirable west-side location, offering convenient access to nearby shopping and dining amenities. The land is characterized by its wooded setting, providing a tranquil backdrop for a potential project. Currently zoned R-1, the property is ideally suited for a variety of uses, including a micro multifamily development, pocket condominiums, or other light commercial ventures. The significant lot size offers ample space for a substantial project. The APN is 82-05-27-018-177.001-025. This rare offering represents a compelling investment opportunity for developers seeking a prime location with significant potential for growth and return. The asking price is $250,000. This hard-to-find west-side land parcel presents a unique chance to capitalize on the growing demand for residential and commercial spaces in this thriving area.

    Property Features for 344 Red Bank Rd

    General Information

    Property type
    Land
    Lot Size
    243,065 SF

    HighLights

    • $250,000 asking price.
    • 5.58‑acre wooded lot.
    • R‑1 zoning.
    • Excellent Westside Evansville location near shopping and dining.
    • Suitable for multifamily or light commercial development.
    • Broker co‑op available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.6332539
    Latitude
    37.974737

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    FAQs

    What type of property is this?
    Land - Wooded 5.58-acre lot; R-1 zoning.
    Where is this land located?
    The property is located at 344 Red Bank Rd Evansville, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: $250,000 asking price.; 5.58-acre wooded lot.; R-1 zoning.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    344 Red Bank Rd Evansville, IN 47712
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