5310 Pearl DrEvansville, IN 47712

  • Retail properties
  • 10,000 SF
For Lease
$16/SF/YR View listing

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
5310 Pearl Dr, Evansville, Indiana

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

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
$21,629
$422,500
$584,800
$1,007,300
-
$422,500
$584,800
$1,007,300

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].