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FOR LEASE
Industrial properties
5950 E Morgan Ave, Evansville, IN 47715
Individually Owned
Free & Clear
Property ID
US31-1013002
For Lease
1 / 12
$6 SF/Yr
5950 E Morgan Ave, Evansville, IN 47715
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Property summary
AI-generated overview
This 5,000-square-foot warehouse in Evansville, Indiana, presents a fantastic opportunity for industrial businesses. Located at 5950 E Morgan Ave, this single-tenant property sits on a 0.79-acre lot and boasts a spacious layout. The building, constructed in 1986, features a 19' 8" ceiling height at the eave, providing ample vertical space for storage or operations. The warehouse area comprises 3,320 square feet, complemented by 1,680 square feet of office space. Access is convenient with two drive-in doors, measuring 12' x 16' and 16' x 16', respectively. The property is zoned M-2 and offers ample parking. Electrical service includes 480V Delta 3-Phase power. Annual property taxes are $3,107.20. The lease price is $6.85 per square foot per year, NNN. This property is ready for immediate occupancy. The property's APN is 82-06-13-011-263.001-027. This is a single-story building.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1986
Construction
WOOD
Total area
5,000 SF
Lot
0.79 ac (34,412 SF)
APN
82-06-13-011-263.001-027
UPID
US31-1013002
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Boats And Toys Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
W J RAIBLEY
W J RAIBLEY
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Evansville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Evansville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,089
Tax year 2023
Assessed value
$97,400
Assessed 2023
Previous assessed
$97,400
+0.0% YoY
Effective rate
3.17%
On assessed value
Assessed land
$51,600
Assessed improvement
$45,800
Land market value
$51,600
Improvement market value
$45,800
Total market value
$97,400
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1986
Construction
WOOD
Heating
NONE
Stories
1
Total area
5,000 SF
Lot
0.79 ac (34,412 SF)
APN
82-06-13-011-263.001-027
UPID
US31-1013002
Jurisdiction
VANDERBURGH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1986
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.79 ac
Current owner
From public records · entity-resolved
W J RAIBLEY
Individual
Free & Clear · 0 yrs held
Mailing address
5950 E MORGAN AVE, EVANSVILLE, IN 47715-2324
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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