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    Property profile & analytics

    4500 Lloyd Expy Evansville, IN 47712-6515

    • Grocery and convenience stores
    • 62,231 SF
    • 6.42 lot acres
    OFF-MARKET
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0788409
    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

    • CVS Pharmacy / Pharmacy
    • Primo Water Refill / Bottled Water Supplier
    • FedEx Drop Box / Mailing Service
    • Coinhub Bitcoin ATM Teller / Atm
    • Schnucks Evansville West / Pharmacy / Seafood Market

    Property Details for 4500 Lloyd Expy

    Year built
    1989
    Construction
    TYPE NOT SPECIFIED
    Lot size
    6.42 lot acres
    Property size
    62,231 SF
    Property type
    Grocery and convenience stores
    APN
    82-05-27-018-230.001-025
    APU
    820527018230001025

    Description

    Evansville West Center, a thriving grocery-anchored retail center, presents a prime opportunity for expansion. Located on the high-traffic West Lloyd Expressway and Rosenberger Avenue in Evansville, Indiana, this center boasts 79,809 square feet and comprises ten suites. The property benefits from a strong tenant mix, including a Schnucks, a premier Midwest grocery retailer, ensuring consistent customer traffic. This strategic location provides excellent visibility and accessibility for businesses seeking exposure to a diverse consumer base. The center serves a stable and economically diverse market encompassing Southwest Indiana, Kentucky, and Illinois, drawing shoppers from a wide regional area. Currently, one suite is available, totaling 1,400 square feet (suite #4428), ideal for a variety of retail or service businesses. The center's established success and prime location make it an exceptional investment opportunity. The existing tenant mix includes a blend of retail, service, and restaurant establishments, creating a vibrant and attractive shopping destination. This is a chance to join a successful center in a strong regional market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $700,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.6305
    Latitude
    37.9763
    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
    $78,464
    $771,500
    $1,702,300
    $2,473,800
    -
    $771,500
    $1,702,300
    $2,473,800

    Comparable in this City

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      $3,495,000
      5,407 SF

      401 Boehne Cp Rd

      CONVENIENCE STORE • 5,407 SF
      401 Boehne Cp Rd, Evansville, IN 47712-3136
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    • Value Estimation
      $250,000
      1,472 SF

      2905 Broadway Ave

      CONVENIENCE STORE • 1,472 SF
      2905 Broadway Ave, Evansville, IN 47712-4607
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    • Value Estimation
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      2,360 SF

      2801 Mt Vernon Ave

      CONVENIENCE STORE • 2,360 SF
      2801 Mt Vernon Ave, Evansville, IN 47712-6752
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    • Value Estimation
      $255,000
      1,764 SF

      410 Tekoppel Ave

      CONVENIENCE STORE • 1,764 SF
      410 Tekoppel Ave, Evansville, IN 47712-7844
      View Details
    • Value Estimation
      $370,000
      4,400 SF

      2312 Maryland St

      CONVENIENCE STORE • 4,400 SF
      2312 Maryland St, Evansville, IN 47712
      View Details
    • Value Estimation
      $260,000
      1,521 SF

      1905 Franklin St

      CONVENIENCE STORE • 1,521 SF
      1905 Franklin St, Evansville, IN 47712-5110
      View Details

    Similar Nearby for Sale

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      W Franklin Street Retail Building

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      Evansville Retail Center For Sale

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      Commercial Land on West Side

      Commercial land for sale on the west side of Evansville.
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      Evansville Residential Land For Sale

      Residential land in established Evansville subdivision with mature trees.
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    • Contact for pricing
      0.10 Acres

      Residential Land in Evansville, IN

      Residential building lot on a quiet dead end street.
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    Similar Nearby for Lease

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      3,520 SF

      Evansville Retail Space Available

      Prime location, 1,500 sq ft, $2,500/month
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    • $16 SF/Yr
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      Prime Retail Space on Pearl

      High-visibility retail space near Lloyd Expressway and USI campus.
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      Evansville Retail Space For Rent

      Retail space in high-demand area near Lloyd Expressway.
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      View Details
    • $15 SF/Yr
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      Retail/Office Space on Pearl Drive

      3034 SF retail/office space with high traffic visibility.
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    • $15 SF/Yr
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      Prime Evansville Retail Space

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    • $5 SF/Yr
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      Evansville Retail Spaces For Lease

      Prime Evansville location, multiple spaces available.
      700 Sonntag Ave, Evansville, IN 47712
      View Details
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    4500 Lloyd Expy
    Evansville, IN 47712-6515
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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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