Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2800 St Joseph Ave Evansville, IN 47720

    • Retail properties
    • 25,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 2800 St Joseph Ave

    Property size
    25,000 SF
    Property type
    Retail properties
    Property subtype
    Land

    Description

    This exceptional retail investment opportunity in Evansville, Indiana, presents co-tenancy and outlot spaces adjacent to a thriving Rural King store. Located at 2800 N St Joseph Ave, 47720, this property boasts a prime location near the intersection of North Saint Joseph Avenue and West Diamond Avenue (State Route 66), experiencing nearly 40,000 vehicles daily. The site offers a total of 25,000 square feet of vacant retail space, divisible into units as small as 5,000 square feet, with a maximum contiguous space of 20,000 square feet. Two outlots are available, measuring 1.26 acres and 1.78 acres respectively, providing flexibility for various development options. The property sits on a 3.04-acre lot within Vanderburgh County, benefiting from a strong demographic profile. Within a 10-mile radius, the population exceeds 117,000, with an average annual income of $62,000. Strategic adjacency to Parkview Care Center, a 108-bed nursing facility, and Leisure Living, a 20-acre 55+ community, further enhances the property's appeal and potential for sustained success. This is an ideal opportunity for businesses seeking high visibility and strong consumer traffic in a rapidly growing area.

    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
    -87.6001
    Latitude
    38.0045

    Comparable in this City

    • Value Estimation
      $280,000
      2,016 SF

      19850 Big Cynthiana Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,016 SF
      19850 Big Cynthiana Rd, Evansville, IN 47720
      View Details
    • Value Estimation
      $570,000
      38,720 SF

      2601 Saint Joseph Ave

      RETAIL STORES (PERSONAL SERVICES) • 38,720 SF
      2601 Saint Joseph Ave, Evansville, IN 47720-5471
      View Details
    • Value Estimation
      $290,000
      3,600 SF

      3005 Saint Joseph Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      3005 Saint Joseph Ave, Evansville, IN 47720-1339
      View Details
    • Value Estimation
      $225,000
      7.13 Acres

      4220 Saint Joseph Ave

      RETAIL STORES (PERSONAL SERVICES) • 7.13 Acres
      4220 Saint Joseph Ave, Evansville, IN 47720-1208
      View Details
    • Value Estimation
      $275,000
      1,407 SF

      1101 Harmony Way

      RETAIL STORES (PERSONAL SERVICES) • 1,407 SF
      1101 Harmony Way, Evansville, IN 47720-6143
      View Details
    • Value Estimation
      $380,000
      12,480 SF

      3020 Saint Joseph Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,480 SF
      3020 Saint Joseph Ave, Evansville, IN 47720-1391
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.50 Acres

      Evansville Outlot Investment Opportunity

      High-traffic location, flexible space options.
      2800 St Joseph Ave, Evansville, IN 47720
      View Details
    • $299,000

      Land Parcels Available for Sale

      Land available for sale in multiple parcels.
      1215 Mohr Rd, Evansville, IN 47720
      View Details
    • $4,900,000
      35.00 Acres

      Evansville Commercial Estate - 35 Acres

      Luxury property, immense potential, prime location.
      7700 Henze Rd, Evansville, IN 47720
      View Details
    • $157,320
      Pending

      Evansville Residential Land Opportunity

      8.74 wooded acres of residential land in Evansville, Indiana.
      W Boonville New Harmony Rd, Evansville, IN 47720
      View Details
    • $870,000
      10,281 SF

      Industrial Property with Tenant Income

      Industrial property with existing tenants and business for sale.
      2214 Saint Joseph Ind Park Dr, Evansville, IN 47720
      View Details
    • $4,900,000
      33,000 SF

      Remarkable Mixed-Use Property with Equestrian Center

      35-acre property with 33,000 sq ft home and equestrian center.
      7700 Henze Rd, Evansville, IN 47720
      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.
    2800 St Joseph Ave
    Evansville, IN 47720
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.