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

    1449 Kimber Ln Evansville, IN 47715

    • Office Properties & Spaces
    • 18,760 SF
    • 1.99 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Last Sale
    Mar 17, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0986982
    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

    • A&D Constructors / Contractor
    • Reid Susan E / Physical Therapist
    • Haseman Jean S MD / Doctor
    • Enhabit Home Health / Home Health Care Service
    • Elements Interior Architecture / Interior Designer

    Property Details for 1449 Kimber Ln

    Year built
    1999
    Construction
    WOOD
    Lot size
    1.99 lot acres
    Property size
    18,760 SF
    Property type
    Office Properties & Spaces
    APN
    82-06-24-016-135.009-027
    APU
    820624016135009027

    Description

    Exceptional investment opportunity in Evansville, Indiana. This Class A, 17,916 square foot office building, known as Waterford Plaza, is situated on a 1.99-acre lot (APN: 09-635-16-135-009) at 1449 Kimber Ln, Evansville, IN 47715. Built in 1999, the single-story building features a C-2 zoning designation. The property boasts a strong rent roll with actual and proforma income statements available, showcasing longer-term triple net (NNN) leases with built-in rent increases. Currently (as of March 19, 2024), there are two vacancies presenting a significant value-add opportunity for a new owner. The building's prime location on Evansville's east side offers convenient access to dining, shopping, housing, and entertainment. Recent capital improvements include a complete roof, fascia, and gutter replacement in 2024, and four HVAC rooftop units were replaced in 2023. The asking price is $2,800,000, translating to $156.28 per square foot. This property is ideal for investors seeking a stable, income-producing asset with immediate upside potential. The property is suitable for medical and traditional office uses, as well as financial businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,538,000
      Market price range: $510k - $1.60M
      AI Estimate
      $1,140,000
      Market price range: $459k - $1.28M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,030,000
      Current use
      RETAIL STORES
      $1,395,000
      Change: +35% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4768
    Latitude
    37.9899
    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
    $55,326
    $259,700
    $1,484,600
    $1,744,300
    -
    $259,700
    $1,484,600
    $1,744,300

    Comparable in this City

    • Value Estimation by Request

      Burkhardt Rd

      Industrial properties
      0 Burkhardt Rd, Evansville, IN 47715
      View Details
    • Value Estimation
      $3,285,000
      38,566 SF

      4401 Theater Dr

      OFFICE (GENERAL) • 38,566 SF
      4401 Theater Dr, Evansville, IN 47715-1967
      View Details
    • Value Estimation
      $3,055,000
      35,956 SF

      4200 Division St

      OFFICE (GENERAL) • 35,956 SF
      4200 Division St, Evansville, IN 47715-8610
      View Details
    • Value Estimation
      $2,175,000
      24,544 SF

      7820 Eagle Crst Blvd

      OFFICE (GENERAL) • 24,544 SF
      7820 Eagle Crst Blvd, Evansville, IN 47715-8121
      View Details
    • Value Estimation
      $1,950,000
      52,141 SF

      5130 Lincoln Ave

      OFFICE (GENERAL) • 52,141 SF
      5130 Lincoln Ave, Evansville, IN 47715-4116
      View Details
    • Value Estimation
      $6,830,000
      142,689 SF

      7301 Lincoln Ave

      OFFICE (GENERAL) • 142,689 SF
      7301 Lincoln Ave, Evansville, IN 47715-4359
      View Details

    Similar Nearby for Sale

    • $1,390,000
      16,380 SF

      Evansville Office Building - Net Lease

      Class B Office, 16,380 SF, High ROI
      4004 Morgan Ave, Evansville, IN 47715
      View Details
    • $1,285,000
      16,380 SF

      Eastside Office Building with Warehouse

      Two-story Class B office building with warehouse and receiving dock.
      4004 E Morgan Ave, Evansville, IN 47715
      View Details
    • Contact for pricing
      21,600 SF

      Evansville Flex Space For Sale

      Flex space with office and warehouse components, near I-69.
      2510-2512 N Cullen Ave, Evansville, IN 47715
      View Details
    • Contact for pricing
      6,062 SF

      Evansville Office Building For Sale

      Class A office building with highway access and excellent visibility.
      330 N Cross Pointe Blvd, Evansville, IN 47715
      View Details
    • $230,000
      3,198 SF

      Retail/Office Space with Warehouse

      Corner lot ideal for retail or office with storage.
      5139 Old Boonville Hwy, Evansville, IN 47715
      View Details
    • $525,000
      3,353 SF

      Evansville Office Space For Sale

      Office space available for purchase in Evansville, Indiana.
      2616 S Green River Rd, Evansville, IN 47715
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      55,000 SF

      Eastwood Plaza Retail Space Available

      Evansville Retail Center, 2,600 sq ft.
      1731 Green River Rd, Evansville, IN 47715
      View Details
    • $4 SF/Yr
      100,063 SF

      800 Green River Rd

      Restaurants
      800 Green River Rd, Evansville, IN 47715
      View Details
    • $13 SF/Yr
      110,000 SF

      Lakeside Commons Retail Center

      Evansville, IN: Prime Retail Space Available
      3315-3545 Green River Rd, Evansville, IN 47715
      View Details
    • $10 SF/Yr
      1,500 SF

      Evansville Executive Office Suite

      1,500 SF Office, 9 Parking Spaces
      2225 Cullen Ave, Evansville, IN 47715
      View Details
    • $8 SF/Yr
      16,380 SF

      Prime East Side Office Building

      16,380 SF Office Space Available
      4004 Morgan Ave, Evansville, IN 47715
      View Details
    • Contact for pricing
      60,548 SF

      Evansville Industrial Land Opportunity

      Prime Evansville location, build-to-suit options.
      0 Burkhardt 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.
    1449 Kimber Ln
    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

    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.