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

    1521 Cullen Ave Evansville, IN 47715-2332

    • Warehouses
    • 15,340 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0789668
    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

    • Warehouses

    Property Details for 1521 Cullen Ave

    Year built
    1995
    Construction
    WOOD
    Lot size
    0.92 lot acres
    Property size
    15,340 SF
    Property type
    Warehouses
    APN
    82-06-24-012-168.002-027
    APU
    820624012168002027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $310,000
      Market price range: $309k - $943k
      AI Estimate
      $308,000
      Market price range: $308k - $723k

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4854
    Latitude
    37.9907
    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
    $8,833
    $60,100
    $218,400
    $278,500
    -
    $60,100
    $218,400
    $278,500

    Comparable in this City

    • Value Estimation
      $510,000
      6,000 SF

      2434 Kotter Ave

      WAREHOUSE, STORAGE • 6,000 SF
      2434 Kotter Ave, Evansville, IN 47715-8509
      View Details
    • Value Estimation
      $395,000
      20,000 SF

      2540 Diego Dr

      WAREHOUSE, STORAGE • 20,000 SF
      2540 Diego Dr, Evansville, IN 47715-2906
      View Details
    • Value Estimation
      $735,000
      38,557 SF

      5020 Smythe Dr

      WAREHOUSE, STORAGE • 38,557 SF
      5020 Smythe Dr, Evansville, IN 47715-7751
      View Details
    • Value Estimation
      $350,000
      16,060 SF

      6149 Wedeking Ave

      WAREHOUSE, STORAGE • 16,060 SF
      6149 Wedeking Ave, Evansville, IN 47715-8532
      View Details
    • Value Estimation
      $590,000
      49,240 SF

      5525 Old Boonville Hwy

      STORAGE YARD, OPEN STORAGE • 49,240 SF
      5525 Old Boonville Hwy, Evansville, IN 47715-2130
      View Details
    • Value Estimation
      $505,000
      16,100 SF

      600 Congress Ave

      WAREHOUSE, STORAGE • 16,100 SF
      600 Congress Ave, Evansville, IN 47715
      View Details

    Similar Nearby for Sale

    • $515,000
      6,040 SF

      Evansville Warehouse: $515,000

      6,040 SF Warehouse, Updated 2010
      2720 Colonial Garden Rd, Evansville, IN 47715
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    • $485,000
      6,040 SF

      Industrial Warehouse with Remodeled Offices

      6,040 SF industrial property with remodeled offices and warehouse space.
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    • Contact for pricing
      5,000 SF

      Evansville Warehouse - 5,000 SF

      Vacant industrial warehouse, ideal location.
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    • 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
    • $169,000
      1.08 Acres

      Metro Center East Lot: Prime 1 Acre

      Evansville commercial/industrial land, ready to build.
      601 Metro Ave, Evansville, IN 47715
      View Details
    • $131,262
      0.48 Acres

      Evansville Commercial Land - $131,262

      Prime Commercial Land: Retail, Restaurant Ready
      5017 Theater Dr, Evansville, IN 47715
      View Details

    Similar Nearby for Lease

    • $3,950,000
      60,050 SF

      Functional Warehouse in Eastside Industrial

      60,050 SF warehouse with office space for lease or sale.
      2625 Kotter Ave, Evansville, IN 47715
      View Details
    • $8 SF/Yr
      22,795 SF

      Evansville Warehouse Space Available

      12,000 SF Warehouse, Excellent Location
      6600 Frito Lay Dr, Evansville, IN 47715
      View Details
    • $6 SF/Yr
      5,000 SF

      Evansville Warehouse and Office Space

      5000 SF warehouse with office space for lease.
      5950 E Morgan Ave, Evansville, IN 47715
      View Details
    • $6 SF/Yr
      31,920 SF

      Industrial Warehouse with Loading Docks

      31,920 SF warehouse with multiple loading docks available for lease.
      1000 N Congress Ave, Evansville, IN 47715
      View Details
    • $1,308 /Mo

      Evansville Flex Space Available

      Flex spaces with office and warehouse components, convenient location.
      2512 N Cullen Ave, Evansville, IN 47715
      View Details
    • $4 SF/Yr
      164,611 SF

      Grocery-Anchored Warehouse, Evansville, IN

      165,000 SF Warehouse, 13.85 Acres
      850 Green River Rd, Evansville, IN 47715
      View Details
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    1521 Cullen Ave
    Evansville, IN 47715-2332
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    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
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