3251 Green River RdEvansville, IN 47715

Property Details for 3251 Green River Rd

Year built

2006

Construction

WOOD

Lot size

1.32 AC

Property size (Sq ft)

4,272 SF

Property type

Banks

APN

82-06-12-015-169.001-027

APU

820612015169001027

Description

This exceptional 4,272 square foot commercial property, built in 2006, is ideally situated on a 1.32-acre lot at 3251 N Green River Rd, Evansville, IN 47715. Currently configured as a former bank branch, it offers versatile space suitable for a variety of office and retail uses. The property boasts a C-4 zoning designation and benefits from a high-traffic location at a signalized intersection. Major retailers such as Meijer, Schnuck's, and Menard's are nearby, ensuring significant foot and vehicle traffic. The area is experiencing robust growth due to substantial residential development to the north. The building features one story and is situated on a single lot (APN: 82-06-12-015-169.001-027). Note that the current bank tenant will lease back the ATM until December 12, 2024, and a banking use deed restriction will be in place at closing. This presents a unique opportunity to acquire a well-located property in a thriving commercial corridor of Evansville, Indiana. The asking price is $1,025,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,084,855

  6.5%

  $1,001,405

  7%

  $929,876

• Comparable approach

  Method

  Valuation

  Relative Method

  $926,689

  Geo Method

  $926,689

• Alternative Use

  Use

  Valuation

  Residential

  $844,723

  Hospitality

  $773,761

  Educational

  $643,760

  Medical

  $665,900

  Retail

  $1,001,405

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

38.0078

Longitude

-87.4917

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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