Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2727 Evans Ave Evansville, IN 47711-6227
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2727 Evans Ave Evansville, IN 47711-6227

    View on Map
    • Office properties & Spaces
    • 99,800 SF
    • 6.86 lot acres
    Off-Market
    Property ID
    US31-1094841
    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.
    Value Estimations
    $6,060,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Evans Elementary School / High School
    • Evans Elementary and Junior High School / High School
    • York Marketing / Marketing & Advertising / Advertising Agency

    Property Details for 2727 Evans Ave

    Year built
    1950
    Construction
    TYPE NOT SPECIFIED
    Lot size
    6.86 lot acres
    Property size
    99,800 SF
    Property type
    Office properties & Spaces
    APN
    82-06-17-031-117.001-029
    APU
    820617031117001029

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,521,000
      Market price range: $2.49M - $8.35M
      AI Estimate
      $6,593,000
      Market price range: $3.13M - $10.6M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,520,000
      Current use
      RETAIL STORES
      $7,410,000
      Change: +34% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5504
    Latitude
    38.0055
    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
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      612 SF

      320 Weinbach Ave

      OFFICE (GENERAL) • 612 SF
      320 Weinbach Ave, Evansville, IN 47711-6010
      View Details
    • Value Estimation by Request
      5,176 SF

      2100 Stringtown Rd

      OFFICE (GENERAL) • 5,176 SF
      2100 Stringtown Rd, Evansville, IN 47711-3706
      View Details
    • Value Estimation
      $6,985,000
      115,063 SF

      1500 Oak Hl Rd

      OFFICE (GENERAL) • 115,063 SF
      1500 Oak Hl Rd, Evansville, IN 47711-4860
      View Details
    • Value Estimation
      $4,840,000
      79,761 SF

      421 Columbia St

      OFFICE (GENERAL) • 79,761 SF
      421 Columbia St, Evansville, IN 47711-5105
      View Details
    • Value Estimation by Request
      3,788 SF

      5603 Hwy 41st N

      OFFICE (GENERAL) • 3,788 SF
      5603 Hwy 41st N, Evansville, IN 47711-1959
      View Details
    • Value Estimation by Request
      1,739 SF

      1420 Weinbach Ave

      Coworking space • 1,739 SF
      1420 Weinbach Ave, Evansville, IN 47711
      View Details

    Similar Nearby for Sale

    • $965,000
      11,684 SF

      Commercial Building in Jacobsville Project

      Commercial building in the heart of Jacobsville Revitalization Project.
      1317 N Main St, Evansville, IN 47711
      View Details
    • $159,000

      Commercial Building Near Downtown Evansville

      M-2 zoned commercial building with updates and flexible space.
      15 W Franklin St, Evansville, IN 47711
      View Details
    • $2,683,000
      45,218 SF

      Historic Beaux Arts Building Downtown

      Four-story historic building in downtown Evansville with redevelopment potential.
      524-530 Main St, Evansville, IN 47711
      View Details
    • Contact for pricing
      0.09 Acres

      Residential Land in Evansville, IN

      Vacant residential lot available in Evansville, Indiana.
      106 E Tennessee St, Evansville, IN 47711
      View Details
    • Contact for pricing
      9,760 SF

      Evansville Multifamily Investment Opportunity

      16-unit property with value-add potential in a strong rental corridor.
      500 Richardt Ave, Evansville, IN 47711
      View Details
    • Contact for pricing

      Evansville Commercial Land For Sale

      1.29-acre commercial lot with excellent visibility and accessibility.
      Us Highway 41 N, Evansville, IN 47711
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Evansville Multi-Tenant Complex For Rent

      Multi-tenant complex on Evansville’s northeast side, convenient location.
      701 N Weinbach Ave, Evansville, IN 47711
      View Details
    • Contact for pricing

      East Morgan Avenue Retail Space

      Renovated retail, office, or restaurant space with high visibility.
      2303 E Morgan Ave, Evansville, IN 47711
      View Details
    • Contact for pricing
      2,100 SF

      Office Space Near Lloyd Expressway

      Office space for lease with high visibility and open layout.
      1338-1340 E Division St, Evansville, IN 47711
      View Details
    • $295 SF/Yr
      948 SF

      Office Space in Business District

      Office suite in a business district with utilities included.
      1525 N Heidelbach Ave, Evansville, IN 47711
      View Details
    • Contact for pricing

      Retail/Office Space in The Forge

      New retail/office space available in The Forge on Main.
      200 N Main St, Evansville, IN 47711
      View Details
    • $600 /Mo
      250 SF

      Professional Office/Retail Space Available

      Office/retail complex near Rural King and Buehler’s Buy Low.
      2205 E Morgan Ave, Evansville, IN 47711
      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.
    2727 Evans Ave
    Evansville, IN 47711-6227
    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.
    Sign Up Successful!
    You now have access to more from Realmo!