5310 Pearl DrEvansville, IN 47712
- Retail properties
- 10,000 SF
Property Details for 5310 Pearl Dr
- Year built
- 2002
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.97 AC
- Property size (Sq ft)
- 10,000 SF
- Property type
- Retail properties
- Property subtype
- Strip malls
- APN
- 82-05-28-007-485.001-024
- APU
- 820528007485001024
Description
This exceptional mixed-use property, totaling 10,000 square feet, presents a unique investment opportunity. Located on a highly visible 0.97-acre lot along Pearl Drive/Lloyd Expressway in Vanderburgh County, this single-story building boasts a prime location shadowing major retailers like Walmart Supercenter and Home Depot. Built in 2002 and renovated in 2006, the property features five suites, with 1,150 square feet currently available for lease. The C-4 zoning allows for a variety of commercial uses. The strong tenant mix includes established businesses such as Penn Station and Burkett Family Dentistry, further enhancing the property's appeal. The convenient location benefits from proximity to the University of Southern Indiana (USI), ensuring a consistent flow of potential customers. The property's Net Net Net (NNN) expenses are clearly defined, with real estate taxes totaling $2,512 annually, insurance at $269 annually, and common area maintenance (CAM) at $1,588 annually. This well-maintained property offers a blend of retail and office space, making it an ideal investment for discerning buyers seeking a high-traffic, established location with significant growth potential. The APN is 82-05-28-007-485.001-024.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,539,456
- 6.5%
- $2,344,113
- 7%
- $2,176,676
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,169,216
- Geo Method
- $2,169,216
-
Alternative Use
- Use
- Valuation
- Residential
- $1,977,347
- Hospitality
- $1,811,239
- Educational
- $1,506,930
- Medical
- $1,558,755
- Retail
- $2,344,113
Location Insight
- City
- Evansville
- County
- Vanderburgh
- State
- Indiana
- Latitude
- 37.9744
- Longitude
- -87.6394
- CBSA code
- 21780
- CBSA name
- EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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