Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5221 Oak Grv Rd Evansville, IN 47715-2342

    • Individual retail properties
    • 13,230 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1216084
    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 Pit Barbell Club & Fitness Center / Gym
    • The Pickleball Pit / Pickleball Court

    Property Details for 5221 Oak Grv Rd

    Year built
    1985
    Construction
    WOOD
    Lot size
    0.56 lot acres
    Property size
    13,230 SF
    Property type
    Individual retail properties
    APN
    82-06-24-015-138.001-027
    APU
    820624015138001027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.4875
    Latitude
    37.9913
    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
    $7,952
    $73,400
    $177,300
    $250,700
    -
    $73,400
    $177,300
    $250,700

    Comparable in this City

    • Value Estimation
      $530,000
      59,642 SF

      6846 Oak Grv Rd

      GYM, HEALTH SPA • 59,642 SF
      6846 Oak Grv Rd, Evansville, IN 47715-8255
      View Details
    • Value Estimation
      $595,000
      31,500 SF

      5820 Metro Ctr Dr

      GYM, HEALTH SPA • 31,500 SF
      5820 Metro Ctr Dr, Evansville, IN 47715-2600
      View Details
    • Value Estimation
      $285,000
      18,500 SF

      1101 Congress Ave

      GYM, HEALTH SPA • 18,500 SF
      1101 Congress Ave, Evansville, IN 47715-2435
      View Details
    • Value Estimation
      $625,000
      66,584 SF

      555 10th Ln

      GYM, HEALTH SPA • 66,584 SF
      555 10th Ln, Evansville, IN 47715-2613
      View Details
    • Value Estimation
      $520,000
      9,200 SF

      301 Stockwell Rd

      GYM, HEALTH SPA • 9,200 SF
      301 Stockwell Rd, Evansville, IN 47715-2457
      View Details
    • Value Estimation
      $615,000
      40,250 SF

      3930 Cullen Ave

      GYM, HEALTH SPA • 40,250 SF
      3930 Cullen Ave, Evansville, IN 47715-1399
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,184 SF

      Retail Space in Lawndale Center

      Retail space with high traffic and ample parking.
      864 S Green River Rd, Evansville, IN 47715
      View Details
    • $230,000
      3,198 SF

      Retail/Office Space with Warehouse

      Corner lot ideal for retail or office with storage.
      5139 Old Boonville Hwy, Evansville, IN 47715
      View Details
    • Contact for pricing
      6,612 SF

      High-Visibility Retail Opportunity on Burkhardt

      Class A retail space with high traffic and prime location.
      944 N Burkhardt Rd, Evansville, IN 47715
      View Details
    • $1,131,000

      Evansville Costco Outlot Land

      Prime Evansville land, Costco adjacency, high-end development.
      1200 Cross Pointe Pl, Evansville, IN 47715
      View Details
    • $995,000
      22,132 SF

      Two-Story Building on Oak Grove

      Two-story building suitable for office, retail, or industrial use.
      5115 Oak Grove Rd, Evansville, IN 47715
      View Details
    • $1,787,702
      8.64 Acres

      Galleria Subdivision Land

      8.64 Acres, Prime Evansville Location
      0 Grn Riv Rd & Theater Dr, Evansville, IN 47715
      View Details

    Similar Nearby for Lease

    • $690,000
      7,260 SF

      Retail Shopping Center For Rent

      Highly visible retail shopping center in a mixed-use development.
      6432-6434 E Florida St, Evansville, IN 47715
      View Details
    • $13 SF/Yr
      40,000 SF

      Retail Space in Metro Shoppes

      Prime retail leasing opportunity with high visibility and traffic.
      5700 East Virginia St, Evansville, IN 47715
      View Details
    • $16 SF/Yr
      2,864 SF

      Prime Retail Center Access

      Retail center with high traffic and Interstate access.
      6840 Logan Dr, Evansville, IN 47715
      View Details
    • Contact for pricing
      6,279 SF

      Eastside Retail/Automotive Building

      6,279 SF building on Evansville's thriving Eastside.
      901 Tutor Ln, Evansville, IN 47715
      View Details
    • $7 SF/Yr
      1,350 SF

      Evansville Flex, Retail, Office Space

      Three spaces available for lease: flex, retail, and office.
      4824 Lincoln Ave, Evansville, IN 47715
      View Details
    • $28 SF/Yr
      26,000 SF

      Retail/Fitness Space in Louis Pointe

      Retail or fitness space in a premier mixed-use development.
      6432 E Florida St, 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.
    5221 Oak Grv Rd
    Evansville, IN 47715-2342
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.