Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2808 Menards Dr Evansville, IN 47715-8068
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2808 Menards Dr Evansville, IN 47715-8068

    View on Map
    • Outlet malls
    • 162,726 SF
    • 22.71 lot acres
    Off-Market
    Property ID
    US31-0783453
    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
    $6,105,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Menards / Big Box & Wholesale Store / Building Supply
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 2808 Menards Dr

    Year built
    2008
    Construction
    TYPE NOT SPECIFIED
    Lot size
    22.71 lot acres
    Property size
    162,726 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    82-06-14-015-170.007-027
    APU
    820614015170007027

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,282,000
      Market price range: $3.77M - $10.2M

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4952
    Latitude
    38.0032
    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
    $278,706
    $3,121,000
    $5,666,000
    $8,787,000
    -
    $3,121,000
    $5,666,000
    $8,787,000

    Comparable in this City

    • Value Estimation
      $3,800,000
      136,859 SF

      6716 Oak Grv Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 136,859 SF
      6716 Oak Grv Rd, Evansville, IN 47715-8231
      View Details
    • Value Estimation
      $8,305,000
      143,846 SF

      6625 Lloyd Expy

      WHOLESALE OUTLET, DISCOUNT STORE • 143,846 SF
      6625 Lloyd Expy, Evansville, IN 47715-2757
      View Details
    • Value Estimation
      $770,000
      14,938 SF

      1335 Grn Riv Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 14,938 SF
      1335 Grn Riv Rd, Evansville, IN 47715-2426
      View Details
    • Value Estimation
      $6,855,000
      72,248 SF

      6700 Columbia St

      WHOLESALE OUTLET, DISCOUNT STORE • 72,248 SF
      6700 Columbia St, Evansville, IN 47715-9202
      View Details
    • Value Estimation
      $10,930,000
      132,574 SF

      6700 Virginia St

      WHOLESALE OUTLET, DISCOUNT STORE • 132,574 SF
      6700 Virginia St, Evansville, IN 47715-4034
      View Details
    • Value Estimation
      $1,885,000
      45,190 SF

      318 Grn Riv Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 45,190 SF
      318 Grn Riv Rd, Evansville, IN 47715-2408
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Promenade Retail Center For Sale

      Highly visible shopping center in Evansville's strongest retail corridor.
      1223 Hirschland Rd, Evansville, IN 47715
      View Details
    • Contact for pricing

      Signiel Plaza Retail Opportunity

      Highly visible shopping center in Evansville's Promenade.
      1223 Hirschland Rd, Evansville, IN 47715
      View Details
    • Contact for pricing

      Retail Shopping Center For Sale

      Highly visible retail shopping center in a strong retail corridor.
      6432 E Florida St, Evansville, IN 47715
      View Details
    • Contact for pricing

      High-Visibility Retail Opportunity on Burkhardt

      Class A retail space with high traffic and prime location.
      944 N Burkhardt Rd, Evansville, IN 47715
      View Details
    • Contact for pricing
      6,365 SF

      Retail Space with Interstate Visibility

      Retail space available immediately with excellent visibility and ample parking.
      8301 Eagle Lake Dr, Evansville, IN 47715
      View Details
    • $420,000

      Evansville Commercial Space For Sale

      Versatile commercial space in high-traffic Evansville location.
      2526 N Burkhardt Rd, Evansville, IN 47715
      View Details

    Similar Nearby for Lease

    • $900 /Mo
      700 SF

      Retail/Office Space on Bellemeade Avenue

      Retail/Office space available in an attractive strip center.
      4918-4918 Bellemeade Ave, Evansville, IN 47715
      View Details
    • $10 SF/Yr
      3,000 SF

      Retail Space with High Visibility

      Retail space with high traffic and excellent visibility.
      4816-4818 W Lloyd Expy, Evansville, IN 47715
      View Details
    • Contact for pricing
      943 SF

      Retail Space in Evansville Corridor

      Retail space for rent in high-traffic Evansville location.
      4800 Washington Ave, Evansville, IN 47715
      View Details
    • Contact for pricing

      Promenade Shopping Center Retail Space

      Highly visible shopping center space for lease in Evansville.
      1223 Hirschland Rd, Evansville, IN 47715
      View Details
    • $13 SF/Yr

      Evansville Retail Space For Lease

      Prime retail leasing opportunity with high visibility and traffic.
      5700 East Virginia St, Evansville, IN 47715
      View Details
    • Contact for pricing
      1,500 SF

      Retail Shopping Center For Rent

      Highly visible retail shopping center in a mixed-use development.
      6432-6434 E Florida St, 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.
    2808 Menards Dr
    Evansville, IN 47715-8068
    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!