Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4929 Riverwind Pointe Dr Evansville, IN 47715-6753
    Back to Search
    Property profile & analytics

    4929 Riverwind Pointe Dr, Evansville, IN 47715-6753

    View on Map
    • Office Spaces
    • 21,152 SF
    • 1.50 lot acres
    Off-Market
    Property ID
    US31-1022355
    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
    $1,070,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • New Journeys Counseling / Psychotherapist / Counselor
    • Michael Ward, PLS US Surveyor / Surveyor
    • Jennifer Harwood, LCSW, LCAC / Emdr Psychotherapist / Life Coach
    • The World Association of Sand Therapy Professionals / Association Or Organization
    • Micro Concepts / IT Consulting Firm / (Bike/Boat/Book/etc) Store

    Property Details for 4929 Riverwind Pointe Dr

    Year built
    2000
    Construction
    WOOD
    Lot size
    1.50 lot acres
    Property type
    Office Spaces
    APN
    82-09-01-005-181.003-026
    APU
    820901005181003026

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 11, 2020 — Green River Investments LLP — Deed · related $858k · Old National Bank
    May 10, 2017 — Green River Investments LLP — Deed · related $1M · German American Bancorp INC

    Description

    This exceptional three-story, Class B office building, totaling 21,152 square feet, presents a unique investment opportunity in Evansville, Indiana. Located at 4929 River Wind Pointe Dr, 47715, this property boasts a prime location at the first exit east of the new I-69 bridge (construction anticipated 2024-2026), offering unparalleled visibility and accessibility from I-69 and Green River Road. Built in 2001, the building is zoned C-4 and sits on a 1.497-acre lot, providing ample space and parking for up to 60 vehicles. The impressive lobby features elevator access, and the interior is ideally suited for various uses, including corporate headquarters, classrooms, or medical offices. The asking price is $2,600,000, translating to $122.92 per square foot. This owner/user opportunity is further enhanced by the possibility of purchasing the entire Riverwind Pointe Subdivision, including all lots, for a combined price of $3.6 million. The building's multi-tenant configuration and strategic location make it an attractive investment for both businesses and investors seeking a high-profile presence in a rapidly developing area of Evansville. The building's brick exterior adds to its professional and appealing aesthetic.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,142,000
      Market price range: $518k - $1.44M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,165,000
      Current use
      RETAIL STORES
      $1,570,000
      Change: +35% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4914
    Latitude
    37.9409
    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
    $38,506
    $130,500
    $1,616,600
    $1,747,100
    -
    $130,500
    $1,616,600
    $1,747,100

    Comparable in this City

    • Value Estimation by Request
      8,290 SF

      6724 Morgan Ave

      Office Spaces
      6724 Morgan Ave, Evansville, IN 47715
      View Details
    • Value Estimation by Request
      476,862 SF

      4800 Washington Sq

      Restaurants
      4800 Washington Sq, Evansville, IN 47715
      View Details
    • Value Estimation by Request
      3,950 SF

      4500 Theater Dr

      OFFICE (GENERAL)
      4500 Theater Dr, Evansville, IN 47715-3902
      View Details
    • Value Estimation
      $540,000
      8,039 SF

      6215 Florida St

      OFFICE (GENERAL)
      6215 Florida St, Evansville, IN 47715-2877
      View Details
    • Value Estimation
      $4,385,000
      51,150 SF

      3701 Communications Way

      OFFICE (GENERAL)
      3701 Communications Way, Evansville, IN 47715-8929
      View Details
    • Value Estimation
      $2,060,000
      23,720 SF

      8020 Covert Ave

      OFFICE (GENERAL)
      8020 Covert Ave, Evansville, IN 47715-6293
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Evansville Flex Industrial Space

      Flex industrial space for sale with convenient highway access.
      2510-2512 N Cullen Ave, Evansville, IN 47715
      View Details
    • $420,000

      Evansville Commercial Space For Sale

      Versatile commercial space in high-traffic Evansville location.
      2526 N Burkhardt Rd, Evansville, IN 47715
      View Details
    • Contact for pricing

      Furnished Co-Working and Office Space

      Furnished co-working and office spaces available on a month-to-month basis.
      2626 Kotter Ave, Evansville, IN 47715
      View Details
    • $699,900
      3,000 SF

      Prime Office Space, Evansville, IN

      Well-maintained commercial office space with high visibility and growth opportunity.
      2610 S Green River Rd, Evansville, IN 47715
      View Details
    • Contact for pricing

      Evansville Flex Space For Sale

      Flex space with office and warehouse components, near I-69.
      2510-2512 N Cullen Ave, Evansville, IN 47715
      View Details
    • $1,700,000

      Reimagined Industrial Flex Building

      Modern flex building blending warehouse functionality with high-end office space.
      2626 Kotter Ave, Evansville, IN 47715
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Eastside Evansville Multi-Purpose Office Space

      Eastside Evansville office space with ample parking and outdoor area.
      5130 Vogel Rd, Evansville, IN 47715
      View Details
    • $8 SF/Yr
      16,380 SF

      Prime East Side Office Building

      16,380 SF Office Space Available
      4004 Morgan Ave, Evansville, IN 47715
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Convenient retail and service businesses in Evansville, Indiana.
      1731 N Green River Rd, Evansville, IN 47715
      View Details
    • Contact for pricing

      Evansville Warehouse and Office Space

      Warehouse and office space available for lease in Evansville, Indiana.
      5950 E Morgan Ave, Evansville, IN 47715
      View Details
    • $6 SF/Yr

      Evansville Office Space For Rent

      1,500 SF office space with buildout options available.
      2225 N Cullen Ave, Evansville, IN 47715
      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.
    4929 Riverwind Pointe Dr
    Evansville, IN 47715-6753
    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
    4929 Riverwind Pointe Dr, Evansville, IN, 47715
    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!