Financial
Distress signals
Property profile

The Promenade Development Evansville, IN

FOR SALE
Other commercial real estate
Property ID
US31-1119629
13,552 SF 0.12 ac lot Built 1899
Individually Owned Owner of record is an individual. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a newly constructed retail building configured for a net lease structure. It features an absolute NNN (triple-net) lease arrangement with contractual annual rent escalations of 2%, and the property is in an area with high population density and significant daytime employment activity. The retail location is positioned directly across from Meijer and Menards and has features that qualify it for accelerated depreciation.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$4k
Tax billed · 2023
Assessed value$123k
Assessed land$47k
Assessed improvement$77k
Effective rate3.38%

Value estimate

· Sep 2026
$250k
$225k – $275k
AI approach$250k
NOI build-up
Gross scheduled income$4k
Vacancy & credit loss−$378
Operating expenses−$988
NOI · 0.45% cap applied$2k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$55/SF
Submarket average, outlier-cleaned · 78 recorded sales of this use type
Observed band · Q1–Q3$27 – $85

Cap rate analysis

How does the asset earn?
0.45%
$2k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionVANDERBURGH

Location intelligence

Which uses thrive at this corner?
Best fit: Nail Salon
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Nail Salon10.8
Storage Facility9.5
Pawn Shop9.5

Location

The Promenade Development Evansville, IN
County assessor Recorded deeds · not on file Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

3 recorded sales · 6 properties nearby
Recent sales nearby
3 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
113 4th, Evansville, IN 47708-1427 $275,000 Dec 2021 4,660 SF
309 Main, Evansville, IN 47708-1443 $300,000 Oct 2021 25,248 SF
207 Main, Evansville, IN 47708-1445 $550,000 May 2021 6,900 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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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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