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

    13000 Hwy 41st N Evansville, IN 47725-9401

    • Theaters & concert halls
    • 16,523 SF
    • 24.64 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0641520
    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

    • Theaters & concert halls

    Property Details for 13000 Hwy 41st N

    Year built
    1978
    Construction
    WOOD
    Lot size
    24.64 lot acres
    Property size
    16,523 SF
    Zone code
    4
    Property type
    Theaters & concert halls
    APN
    82-04-08-009-066.038-030
    APU
    820408009066038030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      THEATER (MOVIE)
      $640,000
      Current use
      MEDICAL BUILDING
      $765,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $705,000
      Change: +10% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $550,000
      Change: -14% Conversion: Difficult
      WAREHOUSE, STORAGE
      $540,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5571
    Latitude
    38.0967
    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
    $0.00
    $658,600
    $374,500
    $1,033,100
    -
    $658,600
    $374,500
    $1,033,100

    Comparable in this City

    • Value Estimation
      $3,070,000
      105,306 SF

      4100 Millersburg Rd

      THEATER (MOVIE) • 105,306 SF
      4100 Millersburg Rd, Evansville, IN 47725-7361
      View Details
    • Value Estimation by Request
      7,440 SF

      15515 Husky Way

      THEATER (MOVIE) • 7,440 SF
      15515 Husky Way, Evansville, IN 47725-8407
      View Details
    • Value Estimation
      $575,000
      15,265 SF

      1403 Boonville New Harmony Rd

      THEATER (MOVIE) • 15,265 SF
      1403 Boonville New Harmony Rd, Darmstadt, IN 47725-8663
      View Details
    • Value Estimation by Request
      10,500 SF

      14340 Old State Rd

      THEATER (MOVIE) • 10,500 SF
      14340 Old State Rd, Evansville, IN 47725-9321
      View Details
    • Value Estimation by Request
      5,679 SF

      2200 Kansas Rd

      THEATER (MOVIE) • 5,679 SF
      2200 Kansas Rd, Evansville, IN 47725
      View Details
    • Value Estimation
      $580,000
      24,720 SF

      14240 Petersburg Rd

      THEATER (MOVIE) • 24,720 SF
      14240 Petersburg Rd, Evansville, IN 47725-8362
      View Details

    Similar Nearby for Sale

    • $62,500
      0.30 Acres

      Residential Land in Evansville, IN

      Residential land for sale in a prime eastside location.
      4300 Violet Dr, Evansville, IN 47725
      View Details
    • $67,500
      0.46 Acres

      Residential Land in Saddle Creek Estates

      Residential land in a new subdivision with large, wooded lots.
      1126 Horseshoe Bnd Dr, Evansville, IN 47725
      View Details
    • $77,500
      0.30 Acres

      Residential Land in Evansville, IN

      Residential subdivision lot in McCutchanville, close to amenities.
      1114 Clydesdale Dr, Evansville, IN 47725
      View Details
    • $62,500
      0.36 Acres

      Residential Land in Evansville, IN

      Residential land for sale in Green River Meadows subdivision.
      4602 Violet Dr, Evansville, IN 47725
      View Details
    • $55,000
      0.24 Acres

      Residential Land in Evansville, Indiana

      Residential land in a new north side subdivision.
      10126 Gallop Way, Evansville, IN 47725
      View Details
    • $65,000
      0.29 Acres

      Residential Land in Saddle Creek

      Residential land in a new north side Evansville subdivision.
      1214 Horseshoe Bnd Dr, Evansville, IN 47725
      View Details

    Similar Nearby for Lease

    • 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
    • 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
    • $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
    • $7 SF/Yr
      206,221 SF

      Industrial Build-to-Suit Opportunity

      Premier industrial park location near I-69 and I-64.
      5505 Foundation Dr, 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.
    13000 Hwy 41st N
    Evansville, IN 47725-9401
    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.