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
    Property profile & analytics

    630 Boonville New Harmony Rd Evansville, IN 47725

    • Commercial land
    • 0.41 lot acres
    For Sale
    View listing
    $230,000
    Last Sale
    Apr 19, 2021
    $383,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3257221
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 630 Boonville New Harmony Rd

    Lot size
    0.41 lot acres
    Property type
    Commercial land
    APN
    82-04-08-009-385.002-030
    APU
    820408009385002030

    Description

    This 0.41-acre commercial land parcel is ideally situated in Evansville, Indiana, at 630 Boonville New Harmony Rd, offering exceptional visibility and accessibility. Located just east of the signalized intersection of Hwy 41 ( boasting over 25,000 average daily traffic) and Boonville New Harmony Rd (with over 5,000 ADT), this property benefits from significant traffic flow. The site is part of a grocery-anchored center, adjacent to established businesses including Schnuck's Grocery, Old National Bank, German American Bank, Valvoline Oil Change, and The Philly Grill Restaurant. Across Boonville New Harmony Rd are CVS and Wendy's, while across Hwy 41 are the Vanderburgh 4-H Center, Heritage Federal Credit Union, Subway, Papa Johns, 5/3 Bank, and First Financial Bank. This prime location offers a strong demographic profile, with a 5-mile population exceeding 34,000 and an average household income of $107,844. The property is zoned C-4 and is priced at $230,000, representing a land value of $560,976 per acre. This presents a unique opportunity for developers and investors seeking high-traffic exposure in a thriving commercial area of Evansville, Vanderburgh County, Indiana (zip code 47725).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5529
    Latitude
    38.0946
    CBSA code
    21780
    CBSA name
    EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,252
    $90,400
    $0.00
    $90,400
    -
    $90,400
    $0.00
    $90,400

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      Old Princeton Rd

      VACANT COMMERCIAL LAND • 0.10 Acres
      Old Princeton Rd, Evansville, IN 47725
      View Details
    • Value Estimation by Request
      0.19 Acres

      Ruffian Way

      VACANT COMMERCIAL LAND • 0.19 Acres
      Ruffian Way, Evansville, IN 47725
      View Details
    • Value Estimation by Request
      2.14 Acres

      19530 Castle Crk Dr

      VACANT COMMERCIAL LAND • 2.14 Acres
      19530 Castle Crk Dr, Evansville, IN 47725-7904
      View Details
    • Value Estimation by Request
      1.28 Acres

      12330 Hwy 41st N

      VACANT COMMERCIAL LAND • 1.28 Acres
      12330 Hwy 41st N, Evansville, IN 47725-7018
      View Details
    • Value Estimation by Request
      2.45 Acres

      8500 Kentucky Ave

      VACANT COMMERCIAL LAND • 2.45 Acres
      8500 Kentucky Ave, Evansville, IN 47725
      View Details
    • Value Estimation by Request
      0.96 Acres

      6416 Vieth Ln

      VACANT COMMERCIAL LAND • 0.96 Acres
      6416 Vieth Ln, Evansville, IN 47725-7329
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Available For Mixed-Use Development

      Land available for sale or lease in mixed-use development.
      707 Castle Creek Dr, Evansville, IN 47725
      View Details
    • $1,250,000

      Evansville Land Parcels For Sale

      Multiple commercial land lots available near Interstate 69.
      11715 N Green River Rd, Evansville, IN 47725
      View Details
    • Contact for pricing

      Land Available For Sale/Lease

      Mixed-use development land for retail, manufacturing, and multifamily housing.
      19621 Castle Creek Dr, Evansville, IN 47725
      View Details
    • $341,610

      Highway Frontage Commercial Lots

      Multiple commercial lots available with utilities and highway access.
      717 E Baseline Rd, Evansville, IN 47725
      View Details
    • $775,250

      22 Acres Shovel-Ready Land

      22 acres of M-2 zoned land with utilities.
      15400 Highway 41 N, Evansville, IN 47725
      View Details
    • $230,000

      Prime Commercial Land Outparcel

      Located at signalized intersection near Highway 41.
      630 Boonville New Harmony Rd, Evansville, IN 47725
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Available For Lease

      Mixed-use development land ideal for retail, industrial, and multifamily.
      701 Rusher Ln, Evansville, IN 47725
      View Details
    • Contact for pricing

      Land Available For Lease/Sale

      Mixed-use development land for retail, manufacturing, and multifamily housing.
      717 Rusher Ln, Evansville, IN 47725
      View Details
    • Contact for pricing
      206,221 SF

      Evansville Industrial Build-to-Suit

      Prime I-69/I-64 location, customizable warehouse.
      5505 Foundation Dr, Evansville, IN 47725
      View Details
    • Contact for pricing
      617,500 SF

      Evansville Industrial Development Opportunity

      617,500 SF Manufacturing Facility, Rail Served
      5801 Ruston Ln, Evansville, IN 47725
      View Details
    • $12 SF/Yr
      10,622 SF

      Highway 41 Office Space Available

      Two office suites available on Hwy 41 near Evansville.
      14649 Highway 41 N, Evansville, IN 47725
      View Details
    • Contact for pricing
      73,476 SF

      Retail Space Near Schnucks Grocery

      Outlots available in a 73,476 SF shopping center.
      600 E Boonville New Harmony Rd, Evansville, IN 47725
      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.
    630 Boonville New Harmony Rd
    Evansville, IN 47725
    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.