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    4004 Morgan Ave Evansville, IN 47715

    For Sale
    $1,390,000

    Class B Office, 16,380 SF, High ROI

    Property size:
    16,380 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a well-maintained, two-story Class B office building situated on Evansville's Eastside at 4004 E Morgan Ave, Evansville, IN 47715. Spanning 16,380 square feet on a 1.2-acre lot (APN: 82-06-14-017-146.003-027), this property boasts a strong financial performance, with a projected Gross Operating Income exceeding $200,000 annually when fully leased. The building, constructed in 1977 and renovated in 2024, features a prominent monument sign and includes a valuable 3,297 square foot warehouse component with a 22-foot ceiling and a receiving dock. Modern amenities include fiber optic internet access through AT&T. The property benefits from a recently resurfaced parking lot (2019) and LED lighting upgrades (2022). Currently, there is one available office suite of 2,592 square feet. The building is zoned C-1 and is offered as a Net Lease investment. Detailed financial and lease information is available upon execution of a confidentiality agreement. This is a prime opportunity for investors seeking a stable, high-return commercial property in a desirable Evansville location.

    Property Features for 4004 Morgan Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    16,380 SF
    Class
    B
    Lot Size
    52,272 SF

    Building Details

    Year Built/Renovated
    1977/2024
    Buildings
    1
    Stories
    2

    HighLights

    • $1,390,000 asking price for a Net Leased Class B office building.
    • 16,380 square feet on a 1.2‑acre lot in Evansville, Indiana.
    • Multi‑tenant building with one vacancy (2,592 SF); 2023 projected gross operating income over $200,000 when fully leased.
    • Two‑story building (1977 construction, renovated 2024) with a 3,297 SF warehouse featuring a receiving dock and 22' ceilings.
    • Features include monument signage, fiber optic internet (AT&T), and a recently resurfaced parking lot (2019) and LED signage (2022).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Konica Minolta Business ... Business To Business Service tristatehomefinder.net Real Estate Agency Scott Edmond CCIM ... Commercial Real Estate Agency Team Select Home ... Home Health Care Service Action Staffing, Inc. Employment Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop 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
    -87.5012842
    Latitude
    37.9916842

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    FAQs

    What type of property is this?
    Office Property / Space - Class B Office, 16,380 SF, High ROI
    Where is this office property / space located?
    The property is located at 4004 Morgan Ave Evansville, IN.
    What is the asking price?
    The asking price for this property is $1,390,000.
    What are key features of this property?
    This property features: $1,390,000 asking price for a Net Leased Class B office building.; 16,380 square feet on a 1.2-acre lot in Evansville, Indiana.; Multi-tenant building with one vacancy (2,592 SF); 2023 projected gross operating income over $200,000 when fully leased.
    (800) 564-1024
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    4004 Morgan Ave Evansville, IN 47715
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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
    4004 Morgan Ave Evansville, IN 47715
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