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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    738 Diamond Ave Evansville, IN 47711-3418

    • Specialty properties
    • 10,171 SF
    • 1.86 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1216081
    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

    • Browning Funeral Home / Funeral Home

    Property Details for 738 Diamond Ave

    Year built
    1954
    Construction
    WOOD
    Lot size
    1.86 lot acres
    Property size
    10,171 SF
    Property type
    Specialty properties
    APN
    82-06-17-031-121.012-029
    APU
    820617031121012029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $470,000
      NEIGHBORHOOD: SHOPPING CENTER
      $340,000
      INDUSTRIAL (GENERAL)
      $305,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5524
    Latitude
    38
    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
    $17,664
    $162,300
    $394,600
    $556,900
    -
    $162,300
    $394,600
    $556,900

    Comparable in this City

    • Value Estimation
      $220,000
      0.04 Acres

      306 Columbia St, Unit 312

      CHARITABLE ORGANIZATION • 0.04 Acres
      306 Columbia St, Evansville, IN 47711-5050
      View Details
    • Value Estimation
      $230,000
      0.07 Acres

      118 Florida St

      CHARITABLE ORGANIZATION • 0.07 Acres
      118 Florida St, Evansville, IN 47711
      View Details
    • Value Estimation
      $245,000
      752 SF

      501 503rd E Iowa St

      CHARITABLE ORGANIZATION • 752 SF
      501 503rd E Iowa St, Evansville, IN 47711
      View Details
    • Value Estimation
      $225,000
      2,506 SF

      756 Columbia St

      CHARITABLE ORGANIZATION • 2,506 SF
      756 Columbia St, Evansville, IN 47711-5109
      View Details
    • Value Estimation
      $400,000
      8,691 SF

      1800 Saint George Rd

      FUNERAL HOME • 8,691 SF
      1800 Saint George Rd, Evansville, IN 47711-2478
      View Details
    • Value Estimation
      $215,000
      2,160 SF

      516 518th N Elliott St

      CHARITABLE ORGANIZATION • 2,160 SF
      516 518th N Elliott St, Evansville, IN 47711
      View Details

    Similar Nearby for Sale

    • $6,500,000

      The Flats at Keystone: Evansville, IN

      Luxury Apartment Building, High Occupancy
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    • $825,000
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      Evansville Industrial Warehouse - $825K

      Prime Evansville location, 25,801 SF warehouse, 3.2 acres.
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    • $275,000
      0 SF

      C-Store Development Opportunity

      Corner lot near university and medical complex.
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    • Contact for pricing
      0.09 Acres

      Vacant Residential Lot in Evansville

      Cleared, level lot ready for building with utilities on site.
      652 E Maryland St, Evansville, IN 47711
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    • $35,000
      1.32 Acres

      Evansville Buildable Lot For Sale

      1.32 acre wooded lot ready for new home.
      643 Belmont Dr, Evansville, IN 47711
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    • $100,000
      2.14 Acres

      Evansville Residential Land Opportunity

      Large wooded lots available in a convenient, private location.
      349 Hesmer Rd, Evansville, IN 47711
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    Similar Nearby for Lease

    • $20 SF/Yr
      8,262 SF

      Retail Space Near Airport

      Customizable retail suites available near Evansville Regional Airport.
      4143 Highway 41 N, Evansville, IN 47711
      View Details
    • $600 /Mo
      1,110 SF

      Professional Office/Retail Space Available

      Office/retail complex near Rural King and Buehler’s Buy Low.
      2205 E Morgan Ave, Evansville, IN 47711
      View Details
    • $150,000
      4,329 SF

      Fenced Lot with Storage Building

      Fenced gravel lot with storage building for lease.
      600 N Heidelbach Ave, Evansville, IN 47711
      View Details
    • $9 SF/Yr
      4,622 SF

      Prime Retail Space Available Now

      High-traffic location, flexible layouts
      1200 Willow Rd, Evansville, IN 47711
      View Details
    • $0.38 SF/Yr
      78,408 SF

      Evansville Industrial Land - 1.8 Acres

      Prime Evansville industrial lot, fenced, 78,408 sq ft.
      750 Franklin St, Evansville, IN 47711
      View Details
    • $5 SF/Yr
      30,000 SF

      Lynch Road Warehouse Space Available

      30,000 SF Warehouse, Evansville Airport Area
      2800 Lynch Rd, Evansville, IN 47711
      View Details
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    738 Diamond Ave
    Evansville, IN 47711-3418
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    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
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