Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4820 Spg St Evansville, IN 47711-2487
    Back to Search
    Property profile & analytics

    4820 Spg St, Evansville, IN 47711-2487

    View on Map
    • Office buildings
    • 5,000 SF
    • 1.15 lot acres
    Off-Market
    Last Sale Oct 15, 2024
    Property ID
    US31-3175815
    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
    $645,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Little Sprouts Ministries, Corp. / Ministry Of Education
    • Bridges Transitional Preschool & Childcare Ministries Corp. / High School / Daycare Center

    Property Details for 4820 Spg St

    Year built
    1984
    Construction
    WOOD
    Lot size
    1.15 lot acres
    Property type
    Office buildings
    APN
    82-06-03-034-415.001-020
    APU
    820603034415001020

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 15, 2024 — Book Four LLC Crow Family Limited Partnership Warranty Deed $236k · Indiana Members Cu
    Jul 18, 2016 — Crow Family Ltd Partnership Tm Squared LLC Warranty Deed —
    May 23, 2008 — Tm Squared LLC D Donald Assalone Warranty Deed $212k · Irwin Bank & Trust Co

    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
    -87.5265
    Latitude
    38.0222
    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
    $7,413
    $75,400
    $158,300
    $233,700
    -
    $75,400
    $158,300
    $233,700

    Comparable in this City

    • Value Estimation by Request
      0.05 Acres

      3116 Morgan Ave Ste D

      OFFICE BUILDING
      3116 Morgan Ave Ste D, Evansville, IN 47711-4471
      View Details
    • Value Estimation by Request
      0.05 Acres

      3116 Morgan Ave Ste H

      OFFICE BUILDING
      3116 Morgan Ave Ste H, Evansville, IN 47711-4471
      View Details
    • Value Estimation by Request
      0.05 Acres

      3116 Morgan Ave Ste B

      OFFICE BUILDING
      3116 Morgan Ave Ste B, Evansville, IN 47711-4471
      View Details
    • Value Estimation by Request
      0.05 Acres

      3116 Morgan Ave Ste G

      OFFICE BUILDING
      3116 Morgan Ave Ste G, Evansville, IN 47711-4471
      View Details
    • Value Estimation by Request
      0.05 Acres

      3116 Morgan Ave Ste C

      OFFICE BUILDING
      3116 Morgan Ave Ste C, Evansville, IN 47711-4471
      View Details
    • Value Estimation by Request
      3,966 SF

      2303 Morgan Ave

      Restaurants
      2303 Morgan Ave, Evansville, IN 47711
      View Details

    Similar Nearby for Sale

    • $200,000

      Evansville Commercial Property For Sale

      2,400 SF commercial property zoned C-4 in Evansville, Indiana.
      1744 Bellaire Ave, Evansville, IN 47711
      View Details
    • Contact for pricing
      11,684 SF

      Commercial Building in Jacobsville Project

      Commercial building in the heart of Jacobsville Revitalization Project.
      1317 N Main St, Evansville, IN 47711
      View Details
    • Contact for pricing

      Evansville Office Space Opportunity

      Potential office space with existing structure or new construction.
      4004 Hitch And Peters Rd, Evansville, IN 47711
      View Details
    • $585,000

      Leased Strip Center with Development

      Fully leased strip center with development opportunity near Highway 41.
      2018 Maxwell Ave, Evansville, IN 47711
      View Details
    • Contact for pricing

      Fenced Lot with Storage Building

      Fenced gravel lot with storage building for lease.
      600 N Heidelbach Ave, Evansville, IN 47711
      View Details
    • $100,000
      2.14 Acres

      Evansville Residential Land Opportunity

      Large wooded lots available in a convenient, private location.
      349 Hesmer Rd, Evansville, IN 47711
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr

      Renovated Office Building with Conference

      Renovated office building with common conference room and ample parking.
      2425 Highway 41 North, Evansville, IN 47711
      View Details
    • $10 SF/Yr

      Renovated Office Building For Lease

      Five-story office building with renovated interiors and common conference room.
      2425 Highway 41 North, Evansville, IN 47711
      View Details
    • Contact for pricing
      135,930 SF

      Evansville Manufacturing and Warehouse Facility

      Large industrial space with manufacturing, warehouse, and office areas.
      955 E Diamond Ave, Evansville, IN 47711
      View Details
    • Contact for pricing
      3,788 SF

      Office Space Near Highway 41

      Office space with flexible floor plan and large parking lot.
      5603 Us Highway 41, Evansville, IN 47711
      View Details
    • Contact for pricing
      1,176 SF

      Professional Office/Retail Space Available

      Office/retail complex near Rural King and Buehler’s Buy Low.
      2205 E Morgan Ave, Evansville, IN 47711
      View Details
    • Contact for pricing

      Evansville Multi-Tenant Complex For Rent

      Multi-tenant complex on Evansville’s northeast side, convenient location.
      701 N Weinbach Ave, Evansville, IN 47711
      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.
    4820 Spg St
    Evansville, IN 47711-2487
    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

    Thank You for Inquiry
    4820 Spg St, Evansville, IN, 47711
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!