Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    3008 Covert Ave Evansville, IN 47714-4035
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3008 Covert Ave Evansville, IN 47714-4035

    View on Map
    • Retail space
    • 2,560 SF
    • 0.26 lot acres
    Off-Market
    Property ID
    US31-0963153
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Liberty Tax / Accounting Firm / Tax Preparation

    Property Details for 3008 Covert Ave

    Year built
    1989
    Construction
    WOOD
    Lot size
    0.26 lot acres
    Property size
    2,560 SF
    Property type
    Retail space
    APN
    82-06-34-016-010.030-027
    APU
    820634016010030027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5131
    Latitude
    37.9554
    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
    $2,706
    $34,400
    $50,900
    $85,300
    -
    $34,400
    $50,900
    $85,300

    Comparable in this City

    • Value Estimation by Request
      1,610 SF

      2010 Weinbach Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,610 SF
      2010 Weinbach Ave, Evansville, IN 47714-4206
      View Details
    • Value Estimation by Request
      1,650 SF

      1614 Kentucky Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,650 SF
      1614 Kentucky Ave, Evansville, IN 47714-3481
      View Details
    • Value Estimation by Request
      288 SF

      1104 Riverside Dr

      RETAIL STORES (PERSONAL SERVICES) • 288 SF
      1104 Riverside Dr, Evansville, IN 47714-3424
      View Details
    • Value Estimation by Request
      2,226 SF

      1701 New York Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,226 SF
      1701 New York Ave, Evansville, IN 47714
      View Details
    • Value Estimation by Request
      10,696 SF

      4600 Bellemeade Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,696 SF
      4600 Bellemeade Ave, Evansville, IN 47714-0620
      View Details
    • Value Estimation
      $600,000
      9,200 SF

      2810 Covert Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,200 SF
      2810 Covert Ave, Evansville, IN 47714-4008
      View Details

    Similar Nearby for Sale

    • $185,000
      1,296 SF

      Corner Lot with Commercial Building

      High-traffic corner lot with a 1,296 SF commercial building.
      401 S Kentucky Ave, Evansville, IN 47714
      View Details
    • Contact for pricing

      101 S Boeke Rd, Evansville, IN 47714

      Retail properties & Spaces
      101 S Boeke Rd, Evansville, IN 47714
      View Details
    • Contact for pricing

      8.72 Acre Development Site

      8.72 acre site zoned PUD, C-2 & R-1.
      5925 Covert Ave, Evansville, IN 47714
      View Details
    • $58,000
      700 SF

      Evansville Investment Opportunity Near Bosse

      Two-bedroom, one-bath single-family home near Bosse High School.
      1307 S Harlan Ave, Evansville, IN 47714
      View Details
    • Contact for pricing
      16,872 SF

      Evansville Medical Office Building For Sale

      Single-tenant, triple-net leased medical office building in Evansville, Indiana.
      1125 Professional Blvd, Evansville, IN 47714
      View Details
    • Contact for pricing
      28,974 SF

      Evansville Medical/Professional Office Building

      Medical/professional office building near Ascension St Vincent Hospital.
      1020 Professional Blvd, Evansville, IN 47714
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr

      Evansville Showroom Space For Sale

      Open showroom space with high visibility and easy access.
      1321 Covert Ave, Evansville, IN 47714
      View Details
    • $7 SF/Yr

      Retail Space Near Interstate

      To-be-built retail space in high-density residential area.
      4900 Pollack Ave, Evansville, IN 47714
      View Details
    • Contact for pricing
      5,625 SF

      Retail Building Near Green River

      Retail building with three suites near South Green River Road.
      4631-4671 Bayard Park Dr, Evansville, IN 47714
      View Details
    • Contact for pricing

      Evansville Office and Retail Space

      East Evansville location with high traffic count.
      1110 Professional Blvd, Evansville, IN 47714
      View Details
    • $7 SF/Yr

      Retail Space Near Interstate Bypass

      Retail space in high-density residential area near I-164.
      4900 Pollack Ave, Evansville, IN 47714
      View Details
    • $7 SF/Yr

      Retail Spaces on Covert Avenue

      Retail spaces available in a high-traffic commercial area.
      1321 Covert Ave, Evansville, IN 47714
      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.
    3008 Covert Ave
    Evansville, IN 47714-4035
    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!