5310 Pearl DrEvansville, IN 47712

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

Strip malls

Property subtype

Neighborhood centers

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,922,630

  6.5%

  $1,774,740

  7%

  $1,647,970

• Comparable approach

  Method

  Valuation

  Relative Method

  $895,232

  Geo Method

  $895,232

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,400,920

  Mixed-Use / Specialty

  $1,792,650

  Hospitality / Lodging

  $1,346,770

  Office

  $1,807,250

  Institutional / Educational

  $1,872,300

  Residential Income

  $2,190,590

  Multifamily

  $2,492,880

  Automotive / Energy

  $1,604,830

  Parking / Income-Based Land

  $529,856

  Restaurant / Food Service

  $984,110

  Healthcare / Senior Housing

  $1,813,470

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

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