618 Virginia St, Evansville, IN 47711
This unique 1919-built, two-story building located at 618 E Virginia St, Evansville, IN 47711, presents a compelling investment opportunity. Situated on a 0.23-acre lot (APN: 82-06-20-025-122.002-029), this Class B property currently features one unit and offers significant potential for redevelopment. Previously used as office space by CAPE of Evansville, the building boasts updated windows and a modern HVAC system. The interior layout includes a full kitchen and a large bathroom on the second floor, making conversion to multi-family use a viable option. The spacious layout offers ample room for either office space or residential quarters, catering to a variety of uses. The property is zoned R-2, allowing for residential development. This versatile building in the heart of Evansville offers a rare chance to acquire a piece of history with significant upside potential. The asking price is $75,000. This is a single-building property with a single unit.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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