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Property profile & analytics
FOR LEASE
Strip malls
601 E Boonville New Harmony Rd Evansville, IN 47725
Entity Owned
4-yr Hold
Free & Clear
Property ID
US31-3247543
For Lease
1 / 2
$13 SF/Yr
601 E Boonville New Harmony Rd, Evansville, IN 47725
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2008
Construction
TYPE NOT SPECIFIED
Total area
12,554 SF
Lot
1.55 ac (67,562 SF)
Zoning code
1
APN
82-04-17-009-352.002-030
UPID
US31-3247543
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$587k
Blend (final)
Blend
$525k
Owner & transaction history
Costandis LLC · 4 yrs held
Costandis LLC
since 2021
2 recorded transactions
Zoning & alternative use
1 · Evansville, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$780,000
+87.7%
Medical building
$580,000
+39.6%
Commercial (general)
$535,000
+28.3%
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
Method
Estimation
Statistic approach
by Request
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$415,000
Current use
RETAIL STORES
$780,000
Change: +88% · Conversion: Easy
MEDICAL BUILDING
$580,000
Change: +40% · Conversion: Difficult
COMMERCIAL (GENERAL)
$535,000
Change: +28% · Conversion: Easy
WAREHOUSE, STORAGE
$410,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$395,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$42 / SF
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
$28,382
Tax year 2023
Assessed value
$1,139,100
Assessed 2023
Previous assessed
$1,139,100
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$675,600
Assessed improvement
$463,500
Land market value
$675,600
Improvement market value
$463,500
Total market value
$1,139,100
Applied tax rate
7.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2008
Construction
TYPE NOT SPECIFIED
Stories
1
Units
7
Total area
12,554 SF
Lot
1.55 ac (67,562 SF)
Zoning code
1
APN
82-04-17-009-352.002-030
UPID
US31-3247543
Jurisdiction
VANDERBURGH
Zoning & alternative use
1 · Evansville, IN
Zoning 1 · permitted uses
1 · Evansville, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Evansville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$415,000
RETAIL STORES
Est. value
$780,000
MEDICAL BUILDING
Est. value
$580,000
COMMERCIAL (GENERAL)
Est. value
$535,000
WAREHOUSE, STORAGE
Est. value
$410,000
INDUSTRIAL (GENERAL)
Est. value
$395,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Construction
TYPE NOT SPECIFIED
Stories
1
Units
7
Lot
1.55 ac
Current owner
From public records · entity-resolved
Costandis LLC
Entity
Free & Clear · 4 yrs held
Mailing address
3901 HWY 41ST N, EVANSVILLE, IN 47711-3583
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2021
—
Costandis LLC
Yerolemos 2 LLC
Quit Claim Deed
related
—
Apr 9, 2019
—
Costandis LLC
Yerolemou & Son LLC
Warranty Deed
—
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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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