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    4900 Shamrock Dr Evansville, IN 47715

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    For Lease
    Contact for pricing

    Single-story office building, multiple suites available

    Lot size:
    25,914 SF

    Property Features for 4900 Shamrock Dr

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    25,914 SF
    Total Rate
    24510.32

    Building Details

    Year Built
    1977
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 4900 Shamrock Dr, Evansville, IN 47715 Contact us
    Unit Suite 206 A

    $11 /Mo

    Size
    984 SF
    Contact us
    Unit Suite 201

    $11 /Mo

    Size
    755 SF
    Contact us
    Unit Suite 206

    $11 /Mo

    Size
    296 SF
    Contact us
    Unit Suite 212

    $11 /Mo

    Size
    692 SF
    Contact us
    Unit Suite 203

    $11 /Mo

    Size
    1,076 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Will Smith
    Will Smith

    Listing Agency: F.C. Tucker Commercial Listing Agent: Will Smith

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This single-story office building, located at 4900 Shamrock Drive in Evansville, Indiana, offers 25,914 square feet of space on a 1.25-acre lot. Built in 1977, the property is zoned C-4 and features multiple tenancies. Individual suites range from 296 square feet to 1,076 square feet, with the possibility of combining Suite 206 (296 sq ft) and Suite 206A (984 sq ft) for a total of 1,280 square feet. The building is situated in the Evansville Eastside Green River Road submarket, conveniently located near Green River Road. Currently occupied by a diverse range of businesses including Center for Pediatric Therapy, Hopeful Living, Kirk & Associates, Nexus, Rick Watkins Financial Service, Smile Center, and Spirit of Southern Indiana, this property presents a strong investment opportunity. The property's address is 4900 Shamrock Dr, Evansville, IN 47715, and its APN is 82-06-25-017-110.038-027. Vanderburgh County is the location of this traditional office building. The property consists of one building with one story.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Amanda J. Green, ... Physician Rick Watkins Financial ... Insurance Agency United American Insurance ... Insurance Agency Center For Pediatric Therapy Pediatrician Cowan-Whitler Therapy Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.490683203478
    Latitude
    37.971860722457

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    FAQs

    What type of property is this?
    Office property - Single-story office building, multiple suites available
    Where is this office property located?
    The property is located at 4900 Shamrock Dr Evansville, IN.
    What is the lease rate?
    The lease rate is $11-$11 SF/Yr.
    What are key features of this property?
    This property features: 25,914 SF single-story office building on a 1.25-acre lot in Evansville, IN.; Built in 1977, C-4 zoning.; Multiple tenancies with suites ranging from 296 SF to 1,076 SF (potential for 1,280 SF combination).
    (812) 480-0553 Call to check price and availability
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    4900 Shamrock Dr Evansville, IN 47715
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    Contact for Pricing
    Please call us for current price
    and status of this listing Will Smith
    Will Smith
    Real Estate License ID: RB18000507
    (812) 480-0553 (812) 473-6677
    Learn more
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