2230 Fares AveEvansville, IN 47711

Property Details for 2230 Fares Ave

Year built

1958

Construction

TYPE NOT SPECIFIED

Lot size

0.45 AC

Property size (Sq ft)

2,780 SF

Property type

Banks

APN

82-06-16-017-016.036-027

APU

820616017016036027

Description

This exceptional 2,780-square-foot commercial building, located at 2230 N Fares Ave in Evansville, Indiana, presents a unique investment opportunity. Situated on a 4.5-acre lot, this single-story structure is zoned C-4, offering versatile usage potential. Previously occupied by Old National Bank, the building boasts a spacious open area ideal for retail display or office space. Additional features include two private offices, a kitchenette, two restrooms, and a secure vault. The property's convenient location directly across from a new Huck's Gas Station, with excellent access from Diamond Avenue and Fares Avenue, ensures high visibility and accessibility. Ample on-site parking is available for customers and employees. The building's layout and amenities make it suitable for a variety of uses, including retail, office space, or even a bank branch. The Vanderburgh County property (APN: 09-650-17-016-036) offers a compelling combination of size, location, and functionality, making it an attractive prospect for discerning investors. The entire 2,780 square feet is currently vacant, providing immediate occupancy for the new owner.

• CAP approach

  CAP return

  Valuation

  6%

  $534,492

  6.5%

  $493,377

  7%

  $458,136

• Comparable approach

  Method

  Valuation

  Relative Method

  $248,874

  Geo Method

  $248,874

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $945,455

  Mixed-Use / Specialty

  $498,357

  Hospitality / Lodging

  $374,403

  Office

  $502,416

  Institutional / Educational

  $520,499

  Residential Income

  $608,984

  Multifamily

  $693,021

  Automotive / Energy

  $446,142

  Parking / Income-Based Land

  $147,300

  Restaurant / Food Service

  $273,583

  Healthcare / Senior Housing

  $504,145

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

37.9984

Longitude

-87.5401

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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