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    4 2Nd St Evansville, IN 47708

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    For Lease
    Contact for pricing

    Prime Office Space, Flexible Sizes, Riverfront Views

    Lot size:
    3,650 SF

    Property Features for 4 2Nd St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,650 SF
    Class
    A

    Building Details

    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 4 2Nd St, Evansville, IN 47708 Contact us
    Unit Suite 6

    $11 /Mo

    Size
    350 SF
    Contact us
    Unit Suite 4

    $12 /Mo

    Size
    650 SF
    Contact us
    Unit Suite 1

    $10 /Mo

    Size
    1,100 SF
    Contact us
    Unit Small - Mid Size 2nd Floor Suites

    $11 /Mo

    Size
    1,550 SF
    Contact us

    We can help!

    Listing Contact
    Kristin Dannheiser
    Kristin Dannheiser

    Listing Agency: F.C. Tucker Commercial Listing Agent: Kristin Dannheiser

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

    Learn more

    Overview

    This exceptional Class A office building, located at 4 NW 2nd St in Evansville's vibrant downtown, offers multiple executive office suites for lease. The property features a total of 33 parking spaces conveniently accessed via two points in a corner lot (0.49 acres). The building itself is a two-story structure with a private elevator providing secure access to the second-floor suites. These turn-key suites range from a minimum of 144 square feet to a maximum contiguous space of 1,200 square feet, offering flexibility for various business needs. Each suite boasts separate and secured exterior access with individual access codes, ensuring privacy and security. The building's prime location places it just two blocks from Evansville's scenic riverfront and within walking distance of numerous restaurants along Main Street. Landlords are willing to consider tenant improvements for leases with a five-year term. The lease is a gross lease. The building is part of the F.C. Tucker Emge building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lash Slay By ... Hair Salon Evansville Tree Service Landscaping Schnepper Law Law Firm Centricity Home Marketing & Advertising

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5734321
    Latitude
    37.9704719

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    FAQs

    What type of property is this?
    Office property - Prime Office Space, Flexible Sizes, Riverfront Views
    Where is this office property located?
    The property is located at 4 2Nd St Evansville, IN.
    What is the lease rate?
    The lease rate is $10-$12 SF/Yr.
    What are key features of this property?
    This property features: Class A office building in downtown Evansville, Vanderburgh County.; Multiple suites available, ranging from 144 to 1,200 contiguous square feet.; Two-story building with 33 parking spaces and elevator access.
    (812) 455-0001 Call to check price and availability
    Request Owner's contact information
    4 2Nd St Evansville, IN 47708
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    Evansville, IN 47708
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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
    4 2Nd St Evansville, IN 47708
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    Contact for Pricing
    Please call us for current price
    and status of this listing Kristin Dannheiser
    Kristin Dannheiser
    Real Estate License ID: RB14049052
    (812) 455-0001 (812) 473-6677
    Learn more
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