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    49 N Green River Rd Evansville, IN 47715
    Property profile & analytics

    49 N Green River Rd, Evansville, IN 47715

    View on Map
    • Outlet malls
    • 74,720 SF
    • 14.08 lot acres
    For Lease
    $2 SF/Yr
    View Listing →
    Green River Road Build-to-Suit For Lease
    $2 SF/Yr

    Green River Road Build-to-Suit

    Commercial land for rent with high traffic frontage.

    49 N Green River Rd, Evansville, IN 47715
    View Listing
    Property ID
    US31-0832143
    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

    • Sky Zone Trampoline Park / Arcade & Gaming Center / Family Recreation Center

    Property Details for 49 N Green River Rd

    Year built
    1974
    Construction
    TYPE NOT SPECIFIED
    Lot size
    14.08 lot acres
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    82-06-24-017-159.006-027
    APU
    820624017159006027

    Description

    This exceptional 0.6-acre commercial land parcel presents a unique build-to-suit opportunity. Boasting 106 feet of frontage on Green River Road, this property offers unparalleled visibility and accessibility. The site is zoned C-4, allowing for a wide range of commercial development options. With ample parking available and situated near the Lloyd Expressway, this location benefits from an average annual daily traffic count of 29,867 vehicles, ensuring high exposure for your business. The property's location in Vanderburgh County, identified by APN 82-06-24-017-159.006-027, provides convenient access to major transportation routes and a thriving local market. The price will be determined based on the final construction costs, making this a flexible and attractive investment for developers seeking a prime location to build their ideal commercial space. This single-tenant land parcel is ready for your vision, offering a blank canvas to create a thriving commercial enterprise. The lot size is precisely 0.6 acres, providing a manageable yet substantial footprint for your project. Don't miss this chance to secure a highly visible and strategically located commercial property in a dynamic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,712,000
      Market price range: $3.27M - $7.75M

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4908
    Latitude
    37.978
    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
    $140,959
    $2,300,300
    $2,133,900
    $4,434,200
    -
    $2,300,300
    $2,133,900
    $4,434,200

    Comparable in this City

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    • Value Estimation
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      176,128 SF

      6200 Lloyd Expy

      WHOLESALE OUTLET, DISCOUNT STORE
      6200 Lloyd Expy, Evansville, IN 47715-2718
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    • Value Estimation
      $8,305,000
      143,846 SF

      6625 Lloyd Expy

      WHOLESALE OUTLET, DISCOUNT STORE
      6625 Lloyd Expy, Evansville, IN 47715-2757
      View Details
    • Value Estimation
      $3,800,000
      136,859 SF

      6716 Oak Grv Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      6716 Oak Grv Rd, Evansville, IN 47715-8231
      View Details
    • Value Estimation
      $770,000
      14,938 SF

      1335 Grn Riv Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      1335 Grn Riv Rd, Evansville, IN 47715-2426
      View Details
    • Value Estimation
      $6,855,000
      72,248 SF

      6700 Columbia St

      WHOLESALE OUTLET, DISCOUNT STORE
      6700 Columbia St, Evansville, IN 47715-9202
      View Details

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    View Listing
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    Evansville, IN 47715
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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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    49 N Green River Rd, Evansville, IN, 47715
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