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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    401 3rd Ave Evansville, IN 47708-1103

    • Warehouses
    • 16,820 SF
    • 0.61 lot acres
    OFF-MARKET
    Last Sale
    Feb 23, 2022
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0929734
    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.

    Current Use by Public Records

    • The Habegger Corporation - Evansville / Heating Equipment Supplier / Air Conditioning Store

    Property Details for 401 3rd Ave

    Year built
    1965
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.61 lot acres
    Property size
    16,820 SF
    Property type
    Warehouses
    APN
    82-06-30-029-112.006-029
    APU
    820630029112006029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $360,000
      Market price range: $339k - $1.03M
      AI Estimate
      $286,000
      Market price range: $287k - $905k

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5775
    Latitude
    37.9769
    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
    $7,264
    $19,900
    $194,900
    $214,800
    -
    $19,900
    $194,900
    $214,800

    Comparable in this City

    • Value Estimation
      $250,000
      1,600 SF

      600 Market St

      STORAGE YARD, OPEN STORAGE • 1,600 SF
      600 Market St, Evansville, IN 47708
      View Details
    • Value Estimation
      $265,000
      72,100 SF

      428 2nd St

      STORAGE YARD, OPEN STORAGE • 72,100 SF
      428 2nd St, Evansville, IN 47708
      View Details
    • Value Estimation
      $250,000
      600 SF

      213 215th 9th St

      STORAGE YARD, OPEN STORAGE • 600 SF
      213 215th 9th St, Evansville, IN 47708
      View Details
    • Value Estimation
      $520,000
      24,490 SF

      400 3rd Ave

      WAREHOUSE, STORAGE • 24,490 SF
      400 3rd Ave, Evansville, IN 47708-1104
      View Details
    • Value Estimation
      $305,000
      13,606 SF

      163 3rd Ave

      STORAGE YARD, OPEN STORAGE • 13,606 SF
      163 3rd Ave, Evansville, IN 47708-1021
      View Details
    • Value Estimation
      $275,000
      12,584 SF

      120 Clark St

      WAREHOUSE, STORAGE • 12,584 SF
      120 Clark St, Evansville, IN 47708-1026
      View Details

    Similar Nearby for Sale

    • $750,000
      10,058 SF

      Evansville Warehouse Space For Sale

      3,800 SF warehouse with office and restroom near downtown.
      501 NW 4Th St, Evansville, IN 47708
      View Details
    • $850,000
      10,058 SF

      Evansville Warehouse - $850K

      10,058 SF Warehouse, High Visibility
      501 4Th St, Evansville, IN 47708
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    • $2,683,000
      45,218 SF

      American Trust Building: Historic Downtown Evansville

      Iconic Evansville Office Building, Net Lease Opportunity
      528 Main St, Evansville, IN 47708
      View Details
    • $540,000
      Pending

      Renovated Mixed-Use Space on Main

      Renovated mixed-use space with exposed brick and versatile layout.
      327 Main St, Evansville, IN 47708
      View Details
    • New
      $525,000
      8,000 SF

      Versatile Commercial Building in Central Evansville

      Historic 8,000+ sq ft building in Evansville's business district.
      112 Clark St, Evansville, IN 47708
      View Details
    • $1,225,000
      0.07 Acres

      Restored Restaurant/Bar Opportunity

      Restored bar and restaurant in downtown Evansville.
      22 NW 6Th St, Evansville, IN 47708
      View Details

    Similar Nearby for Lease

    • $1.33 SF/Yr
      1,329 SF

      Evansville Office Space for Lease

      Prime Downtown Evansville Offices Available
      220 4Th St, Evansville, IN 47708
      View Details
    • $1,380 /Mo
      1,275 SF

      Historic Downtown Evansville Office Space

      Renovated office space in a historic downtown building.
      124 SE 1St St, Evansville, IN 47708
      View Details
    • $11 SF/Yr
      100,138 SF

      Historic Downtown Evansville Office Space

      Prime Evansville office suites, 936-1824 sq ft.
      201 4Th St, Evansville, IN 47708
      View Details
    • $20 SF/Yr
      134,344 SF

      Downtown Evansville Office Space

      Class A Office, Multiple Suites Available
      21 3Rd St, Evansville, IN 47708
      View Details
    • $10 SF/Yr
      3,650 SF

      Downtown Evansville Executive Suites

      Prime Office Space, Flexible Sizes, Riverfront Views
      4 2Nd St, Evansville, IN 47708
      View Details
    • $10 SF/Yr
      2,194 SF

      Class A Office Space Available

      Class A office space for lease in Evansville, Indiana.
      221 Ingle St, Evansville, IN 47708
      View Details
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    401 3rd Ave
    Evansville, IN 47708-1103
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    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
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