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Property profile & analytics
OFF-MARKET
Office Spaces
3600 Covert Ave Evansville, IN 47714-5402
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-1078701
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1965
Construction
WOOD
Total area
1,632 SF
Lot
7.9 ac (344,211 SF)
APN
82-06-35-017-124.011-027
UPID
US31-1078701
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
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
Oval Property Holdings LLC · 4 yrs held
Oval Property Holdings LLC
since 2022
6 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)
Refine in 60 seconds, get exact suggested price
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
$46,828
Tax year 2023
Assessed value
$2,156,200
Assessed 2023
Previous assessed
$2,156,200
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$327,400
Assessed improvement
$1,828,800
Land market value
$327,400
Improvement market value
$1,828,800
Total market value
$2,156,200
Applied tax rate
9.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1965
Construction
WOOD
Heating
NONE
Buildings
14
Stories
2
Units
1
Total area
1,632 SF
Lot
7.9 ac (344,211 SF)
APN
82-06-35-017-124.011-027
UPID
US31-1078701
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
1965
Construction
WOOD
Heating
NONE
Stories
2
Buildings
14
Units
1
Lot
7.9 ac
Current owner
From public records · entity-resolved
Oval Property Holdings LLC
Entity
Mailing address
362 E KENNEDY BLVD, LAKEWOOD, NJ 08701-1434
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2022
—
Oval Property Holdings LLC
Arbors Evansville LLC
Limited Warranty Deed
$51,000,000 · Haymarket Insurance Company
Nov 27, 2019
—
Arbors Evansille LLC
Delta Covert Avenue Properties LLC
Limited Warranty Deed
—
Jun 27, 2016
$4,000,000
Delta Covert Ave Properties LLC
Stonebrook Of Evansville LLC
Warranty Deed
—
Jun 21, 2012
$600,000
Stonebrook Of Evansville LLC
Csfb 2007-c2 Savannah Gardens LLC
Special Warranty Deed
—
Mar 30, 2012
$800,000
Csfb 2007-c2 Savannah Gardens LLC
Jdsp LLC
Sheriffs Deed
related
—
Feb 24, 2005
—
Premier Investments LLP
W Walt Lowe
Trustees Deed
related
$1,670,750 · Peoples Trust & Savings Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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