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

    825 Canal St Evansville, IN 47713-2513

    • Warehouses
    • 6,464 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    Nov 23, 2020
    $195,000
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1184917
    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

    • E&M Auto Window Tinting / Window Tinting Service
    • Aim Auto / Towing Service / Auto Repair Shop
    • Preferred Environmental Studios / Environmental Consultant

    Property Details for 825 Canal St

    Year built
    1915
    Construction
    WOOD
    Lot size
    0.51 lot acres
    Property size
    6,464 SF
    Property type
    Warehouses
    APN
    82-06-29-024-106.001-029
    APU
    820629024106001029

    Description

    This single-tenant warehouse, located at 825 Canal St., Evansville, IN 47713 (cross streets: Sycamore St.), offers 6,464 square feet of space, with 800 square feet currently vacant. The building, classified as Class B, sits on a half-acre lot and features a 16-foot ceiling height. Renovated in 2018, the single-story structure includes one drive-in door and ample free on-site parking. The property boasts 200 amps of power and a 90-foot frontage. Interior features of the vacant space include a 12x14 overhead door, heat, hot and cold water hookups, new LED lighting, a bathroom, kitchenette, and lobby access. Amenities for all tenants include a private mailbox, fax machine, copier, WiFi, shared kitchenette, access to large conference rooms, and a free networking luncheon. Conveniently located in the Walnut Center submarket, the property is zoned C4 and benefits from twice-daily FedEx and UPS delivery, as well as on-site dry cleaning services. The building is managed by on-site owners and a property manager.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $225,000
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $223,000
      Market price range: $130k - $397k
      AI Estimate
      $171,000
      Market price range: $110k - $348k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $265,000
      Current use
      COMMERCIAL (GENERAL)
      $355,000
      Change: +33% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Evansville
    County
    Vanderburgh
    State
    Indiana
    Longitude
    -87.5517
    Latitude
    37.9746
    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
    $4,222
    $38,500
    $94,600
    $133,100
    -
    $38,500
    $94,600
    $133,100

    Comparable in this City

    • Value Estimation
      $255,000
      4,500 SF

      313 Madison Aveave

      STORAGE YARD, OPEN STORAGE • 4,500 SF
      313 Madison Aveave, Evansville, IN 47713-1559
      View Details
    • Value Estimation
      $250,000
      135 SF

      1769 Governor St

      STORAGE YARD, OPEN STORAGE • 135 SF
      1769 Governor St, Evansville, IN 47713
      View Details
    • Value Estimation
      $840,000
      30,000 SF

      815 John St

      WAREHOUSE, STORAGE • 30,000 SF
      815 John St, Evansville, IN 47713-2746
      View Details
    • Value Estimation
      $275,000
      14,286 SF

      955 Riverside Dr

      STORAGE YARD, OPEN STORAGE • 14,286 SF
      955 Riverside Dr, Evansville, IN 47713-2870
      View Details
    • Value Estimation by Request
      35,696 SF

      1200 Waterworks Rd

      STORAGE YARD, OPEN STORAGE • 35,696 SF
      1200 Waterworks Rd, Evansville, IN 47713-3316
      View Details
    • Value Estimation by Request
      1,740 SF

      222 Governor St

      Flex space • 1,740 SF
      222 Governor St, Evansville, IN 47713
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $10 SF/Yr
      3,600 SF

      Warehouse and Office Space Available

      3,600 SF suite with warehouse and office space for lease.
      703-705 E Sycamore St, Evansville, IN 47713
      View Details
    • $239 SF/Yr
      40,000 SF

      Prime Evansville Office Suite

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      View Details
    • $15 SF/Yr
      130,549 SF

      Prime Evansville Office Space

      Class A Office, Multiple Suites Available
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      View Details
    • $11 SF/Yr
      7,852 SF

      Evansville Office Building For Lease

      Office building for lease near downtown Evansville and IU School of Medicine.
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      View Details
    • $12 SF/Yr
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      Prime Evansville Executive Suites

      Modern offices, flexible space, ideal location.
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    • $269 SF/Yr
      40,000 SF

      Prime Executive Office Suite

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      View Details
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    825 Canal St
    Evansville, IN 47713-2513
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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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