Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Promenade - Sec 4 Evansville, IN 47713

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    The Promenade - Sec 4 Evansville, IN 47713

    View on Map
    • Land
    For Sale
    $1,035,000
    View Listing →
    Prime Evansville Commercial Land For Sale
    $1,035,000

    Prime Evansville Commercial Land

    High-visibility Costco outlot, 1.32 acres

    0 The Promenade - Sec 4, Evansville, IN 47713
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 The Promenade - Sec 4

    Property type
    Land

    Description

    This exceptional 1.32-acre commercial lot, located in Evansville, Indiana's premier mixed-use development, The Promenade, presents a unique investment opportunity. Situated at a highly visible corner with excellent access and exposure, this property is directly adjacent to a new Range USA and benefits from the significant traffic generated by the nearby Costco. Zoned C-4 & C-2, it offers flexibility for a variety of commercial uses. The lot size is 57,857 square feet, priced at $1,035,000, or $785,265 per acre. The Promenade is a thriving, master-planned community combining residential, retail, and recreational elements, creating a vibrant live-work-play environment. This development boasts high-quality construction and design, lush landscaping, and attractive streetscapes, ensuring a sophisticated yet welcoming atmosphere. The strategic location within this rapidly growing area offers exceptional potential for long-term growth and return on investment. Don't miss this chance to secure a prime commercial parcel in one of Evansville's most sought-after developments.

    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
    -87.5544
    Latitude
    37.9584

    Comparable in this City

    • Value Estimation by Request
      1.36 Acres

      The Promenade Sec 7

      Land • 59,242 SF
      0 The Promenade Sec 7, Evansville, IN 47713
      View Details
    • Value Estimation by Request
      1.31 Acres

      The Promenade - Section 4

      Land • 1.31 Acres
      0 The Promenade - Section 4, Evansville, IN 47713
      View Details
    • Value Estimation by Request

      The Promenade

      Land
      0 The Promenade, Evansville, IN 47713
      View Details
    • Value Estimation by Request
      2.50 Acres

      The Promenade - Sec 4

      Land • 2.50 Acres
      0 The Promenade - Sec 4, Evansville, IN 47713
      View Details
    • Value Estimation by Request

      The Promenade

      Land
      0 The Promenade, Evansville, IN 47713
      View Details
    • Value Estimation
      $685,000
      8,920 SF

      500 4th St

      COMMERCIAL (GENERAL) • 8,920 SF
      500 4th St, Evansville, IN 47713
      View Details

    Similar Nearby for Sale

    • $1,035,000

      Prime Evansville Commercial Land

      High-visibility Costco outlot, 1.32 acres
      0 The Promenade - Sec 4, Evansville, IN 47713
      View Details
    • $1,027,000
      1.31 Acres

      Evansville Commercial Land - $1M

      Prime Evansville commercial lot, Costco visibility.
      0 The Promenade - Section 4, Evansville, IN 47713
      View Details
    • $69,000

      Downtown Land on Walnut Street

      Commercial land for sale in downtown Evansville, Indiana.
      1122 Chestnut St, Evansville, IN 47713
      View Details
    • Contact for pricing

      Mixed-Use Development Opportunity

      Planned mixed-use lifestyle development in Southwest Indiana.
      The Promenade - Sec 4, Evansville, IN 47713
      View Details
    • $69,000

      Downtown Land on Walnut Street

      0.31 acres in downtown Evansville, ideal for food vendors.
      1122-1124 Chestnut St, Evansville, IN 47713
      View Details
    • Contact for pricing
      0.15 Acres

      Evansville Residential Land Opportunity

      Residential lot near Downtown Evansville, ideal for builders/developers.
      705 E Powell Ave, Evansville, IN 47713
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      936 SF

      Downtown Evansville Office Space Available

      Office suites for lease in downtown Evansville, Indiana.
      201 NW 4Th St, Evansville, IN 47713
      View Details
    • $12 SF/Yr
      2,975 SF

      Office Suites Available For Rent

      Office suites available in secured building with ample parking.
      610 E Walnut St, Evansville, IN 47713
      View Details
    • Contact for pricing

      Evansville Office Suites For Rent

      Four office suites available near downtown Evansville with private entrances.
      711 John St, Evansville, IN 47713
      View Details
    • Contact for pricing
      1,800 SF

      Evansville Office Space For Lease

      Professional office spaces with exclusive entrances, ranging from 1,800-16,654 SF.
      711 John St, Evansville, IN 47713
      View Details
    • $21 SF/Yr

      Evansville Retail Opportunity Near Sam's

      High-visibility shopping center location in front of Sam's Club.
      619 N Burkhardt Rd, Evansville, IN 47713
      View Details
    • Contact for pricing
      908 SF

      Downtown Office Space For Rent

      Charming downtown office space near the river available for lease.
      313-315 SE 1St St, Evansville, IN 47713
      View Details
    View Listing
    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.
    The Promenade - Sec 4
    Evansville, IN 47713
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!