Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5401 Hwy 41st N Evansville, IN 47711-1962
    Back to Search
    Property profile & analytics

    5401 Hwy 41st N Evansville, IN 47711-1962

    View on Map
    • Warehouses
    • 1,053,789 SF
    • 52.82 lot acres
    Off-Market
    Property ID
    US31-2102412
    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
    $18,605,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 5401 Hwy 41st N

    Year built
    1942
    Construction
    WOOD
    Lot size
    52.82 lot acres
    Property size
    1,053,789 SF
    Property type
    Warehouses
    APN
    82-06-04-034-298.004-020
    APU
    820604034298004020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,244,000
      Market price range: $21.2M - $64.8M
      AI Estimate
      $15,964,000
      Market price range: $16.0M - $52.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5373
    Latitude
    38.0245
    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
    $207,015
    $2,300,800
    $4,226,400
    $6,527,200
    -
    $2,300,800
    $4,226,400
    $6,527,200

    Comparable in this City

    • Value Estimation by Request
      144 SF

      710 Diamond Ave, Unit 726

      STORAGE YARD, OPEN STORAGE • 144 SF
      710 Diamond Ave, Evansville, IN 47711-3418
      View Details
    • Value Estimation by Request
      41,850 SF

      2401 William L Brooks Dr

      Distribution properties • 41,850 SF
      2401 William L Brooks Dr, Evansville, IN 47711
      View Details
    • Value Estimation by Request
      5,044 SF

      817 Fares Ave

      STORAGE YARD, OPEN STORAGE • 5,044 SF
      817 Fares Ave, Evansville, IN 47711-5231
      View Details
    • Value Estimation
      $745,000
      48,208 SF

      911 Franklin St, Unit 919

      WAREHOUSE, STORAGE • 48,208 SF
      911 Franklin St, Evansville, IN 47711-5656
      View Details
    • Value Estimation
      $8,065,000
      456,941 SF

      820 Columbia St

      WAREHOUSE, STORAGE • 456,941 SF
      820 Columbia St, Evansville, IN 47711-5146
      View Details
    • Value Estimation
      $6,635,000
      375,866 SF

      817 Maxwell Ave

      WAREHOUSE, STORAGE • 375,866 SF
      817 Maxwell Ave, Evansville, IN 47711-3847
      View Details

    Similar Nearby for Sale

    • $44,900
      1,380 SF

      Versatile Commercial Building for Sale

      Contractor shop, resale shop, or storage potential.
      1005 N Governor St, Evansville, IN 47711
      View Details
    • $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
    • $415,000
      Pending

      Mixed-Use Property with Retail Space

      Mixed-use property featuring retail, warehouse, and residential spaces.
      201 E Virginia St, Evansville, IN 47711
      View Details
    • Contact for pricing
      20,472 SF

      Dual-Building Commercial Property For Lease

      Commercial property with showroom, warehouse, manufacturing & office space.
      1150 Maxwell Ave, Evansville, IN 47711
      View Details
    • $200,000
      2,400 SF

      Evansville Office Warehouse For Sale

      Office warehouse in Evansville, ideal for storage or production.
      1744 Bellaire Ave, Evansville, IN 47711
      View Details
    • $3,950,000

      Evansville Industrial Property For Sale

      85,702 SF industrial building in Evansville, Indiana.
      1618 Lynch Rd, Evansville, IN 47711
      View Details

    Similar Nearby for Lease

    • 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
    • $7 SF/Yr

      Proposed Industrial Building For Lease

      Proposed industrial building with warehousing space in a central location.
      2018 Maxwell Ave, Evansville, IN 47711
      View Details
    • Contact for pricing

      Evansville Manufacturing and Warehouse Space

      Manufacturing and warehouse facility with ample parking and recent upgrades.
      955 E Diamond Ave, Evansville, IN 47711
      View Details
    • $7 SF/Yr

      Proposed Industrial Building For Lease

      Proposed industrial building offering warehousing space in a central location.
      2018 Maxwell Ave, Evansville, IN 47711
      View Details
    • Contact for pricing
      9,600 SF

      9,600 SF Warehouse in Evansville

      Versatile 9,600 SF post-frame building for lease on Evansville’s north side.
      5812 Stringtown Rd, Evansville, IN 47711
      View Details
    • Contact for pricing
      35,088 SF

      Single-Tenant Industrial Building For Rent

      35,088 SF industrial building with fenced outdoor storage.
      2200 N New York 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.
    5401 Hwy 41st N
    Evansville, IN 47711-1962
    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
    5401 Hwy 41st N, 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!