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Property profile & analytics
OFF-MARKET
Retail space
2 Richardt Ave Evansville, IN 47711-3736
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-0980725
Property summary
AI-generated overview
This well-loved Evansville, Indiana restaurant, Libby & Mom's Cafe, presents a unique investment opportunity. Located at 2 Richardt Ave, 47711, this charming establishment boasts 2,773 square feet of space in a 0.24-acre lot, including a separate 400 square foot storage building. Built in 1949, the property is zoned C-1 and features two buildings. Currently operating with limited hours, this turnkey business offers significant potential for increased revenue by expanding its hours to capitalize on the strong local demand. The cozy atmosphere and loyal customer base provide a solid foundation for growth, making it ideal for investors or owner-operators seeking to build upon a well-established brand within the community. The asking price is $375,000. This is a chance to acquire a beloved piece of Evansville's culinary landscape and take it to the next level.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1949
Construction
WOOD
Total area
2,773 SF
Lot
0.24 ac (10,336 SF)
APN
82-06-17-031-001.009-029
UPID
US31-0980725
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Libby & Mom's Cafe Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Cu & Rp Property LLC · 1 yrs held
Cu & Rp Property LLC
since 2025
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Evansville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Evansville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,288
Tax year 2023
Assessed value
$40,600
Assessed 2023
Previous assessed
$40,600
+0.0% YoY
Effective rate
3.17%
On assessed value
Assessed land
$18,100
Assessed improvement
$22,500
Land market value
$18,100
Improvement market value
$22,500
Total market value
$40,600
Applied tax rate
29.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1949
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
2,773 SF
Lot
0.24 ac (10,336 SF)
APN
82-06-17-031-001.009-029
UPID
US31-0980725
Jurisdiction
VANDERBURGH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1949
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
Cu & Rp Property LLC
Entity
Mailing address
2 RICHARDT AVE, EVANSVILLE, IN 47711-3736
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2025
—
Cu & Rp Property LLC
—
Deed
related
$60,000 · Evansville Teachers FCU
May 13, 2025
—
Cu & Rp Property LLC
Elizabeth A Fulton
Warranty Deed
$184,000 · Evansville Teachers FCU
Nov 5, 2009
$40,000
Elizabeth A Volk
Fifth Third Bank
Special Warranty Deed
—
Feb 2, 2009
$40,000
Fifth Third Bank
Regio Mexican Restaurant Bar & Gril
Sheriffs Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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