Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2123 Galleria Dr Evansville, IN 47715
    Back to Search
    Property profile & analytics

    2123 Galleria Dr, Evansville, IN 47715

    View on Map
    • Retail properties & Spaces
    • 40,009.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2123 Galleria Dr

    Lot size
    40,009.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4703
    Latitude
    37.962

    Comparable in this City

    • Value Estimation by Request
      8.64 Acres

      Grn Riv Rd & Theater Dr

      Restaurants
      0 Grn Riv Rd & Theater Dr, Evansville, IN 47715
      View Details
    • Value Estimation by Request
      0.92 Acres

      2123 Galleria Dr

      Farms
      2123 Galleria Dr, Evansville, IN 47715
      View Details
    • Value Estimation by Request
      1.05 Acres

      5030 Theater Dr

      Farms
      5030 Theater Dr, Evansville, IN 47715
      View Details
    • Value Estimation by Request
      0.77 Acres

      4900 Theater Dr

      Farms
      4900 Theater Dr, Evansville, IN 47715
      View Details
    • Value Estimation by Request
      7.17 Acres

      Lynch Rd

      Farms
      0 Lynch Rd, Evansville, IN 47715
      View Details
    • Value Estimation by Request
      0.92 Acres

      5000 Theater Dr

      Farms
      5000 Theater Dr, Evansville, IN 47715
      View Details

    Similar Nearby for Sale

    • $285,862
      1.05 Acres

      Evansville Commercial Land - $285,862

      1.05 Acres, C-4 Zoning, Retail Potential
      5030 Theater Dr, Evansville, IN 47715
      View Details
    • Contact for pricing
      50,965 SF

      Mixed-Use Development Opportunity

      Planned mixed-use development in Southwest Indiana and the Tri-State region.
      1501 N Burkhardt Rd - Sec 7 -, Evansville, IN 47715
      View Details
    • Contact for pricing

      Land Parcel For Sale/Lease

      Land parcel available for sale, lease, or build-to-suit.
      5017 Theater Dr, Evansville, IN 47715
      View Details
    • Contact for pricing

      Land Parcel For Sale/Lease

      Land parcel available for sale, lease, or build-to-suit.
      5000 Theater Dr, Evansville, IN 47715
      View Details
    • Contact for pricing

      Land Parcel For Sale/Lease

      Land parcel suitable for retail, restaurant, or service businesses.
      2123 Galleria Dr, Evansville, IN 47715
      View Details
    • Contact for pricing

      Land Parcel For Sale/Lease

      Land parcel available for sale, lease, or build-to-suit.
      4925 Theater Dr, Evansville, IN 47715
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,527 SF

      Retail Space in Evansville, Indiana

      Retail property available for lease in Evansville, Indiana.
      800-912 S Green River Rd, Evansville, IN 47715
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Convenient retail and service businesses in Evansville, Indiana.
      1731 N Green River Rd, Evansville, IN 47715
      View Details
    • $9 SF/Yr

      Prime Retail/Office Space Available

      Highly visible corner location suitable for retail or office use.
      4824 Lincoln Ave, Evansville, IN 47715
      View Details
    • Contact for pricing

      Retail Space Near Eastland Mall

      High-traffic retail space in Evansville's Eastside Retail District.
      1320 North Green River Rd, Evansville, IN 47715
      View Details
    • Contact for pricing
      2,864 SF

      Prime Retail Center Access

      Retail center with high traffic and Interstate access.
      6840 Logan Dr, Evansville, IN 47715
      View Details
    • Contact for pricing
      1,458 SF

      East Side Retail Space Available

      Retail space on Green River Rd, Evansville. High-end retail center.
      2015 N Green River Rd, Evansville, IN 47715
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2123 Galleria Dr
    Evansville, IN 47715
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2123 Galleria Dr, Evansville, IN, 47715
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!