Commercial Real Estate in Evansville, Indiana, offers a unique opportunity for investors to tap into the city's growing economy. With a population of over 118,000, Evansville is a regional economic hub, boasting a diverse range of industries, including healthcare, finance, education, and manufacturing. Commercial Real Estate in Evansville can represent a variety of investments, from office buildings and retail spaces to industrial properties and hotels. These properties often benefit from the city's well-developed transportation infrastructure, which includes the Evansville Regional Airport, I-64, I-69, and U.S. Highway 41, making it an attractive location for businesses. Additionally, Evansville's amenities, such as Bally's Evansville casino, Mesker Park Zoo, and a strong sports tourism industry, contribute to its appeal as a great place to live, work, and visit. The University of Evansville and the University of Southern Indiana are also significant institutions in the area, providing a skilled workforce and contributing to the city's economic growth.
With 65 Commercial Real Estate listings available in Evansville, investors have a range of options to choose from. The city's industrial properties, for example, offer access to major freight railroads like CSX and Norfolk Southern Railway, as well as public and private port facilities on the Ohio River. Apartment Buildings in Evansville benefit from the city's growing population and its reputation as a great place to live. Office Properties in the city are often located in the downtown district, which features historic early twentieth-century architecture and a mix of land-based casino gambling, restaurants, bars, and shops. Hotels in Evansville, such as the Tropicana Evansville, cater to the city's strong tourism industry, which is driven by attractions like the Ford Center and the Historic Bosse Field. Overall, Commercial Real Estate in Evansville offers a unique combination of economic growth, infrastructure, and amenities, making it an attractive investment opportunity.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Evansville, Indiana, there are several alternatives to consider, including:
- Traditional bank loans, which offer fixed or variable interest rates and repayment terms ranging from 5 to 25 years;
- Commercial mortgage-backed securities (CMBS), which provide non-recourse financing with fixed interest rates and longer loan terms;
- Private money lenders, which offer short-term, high-interest loans for fix-and-flip projects or other unique situations.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Evansville, Indiana, cap rates play a crucial role in evaluating the potential return on investment. With an average cap rate of 7.77%, investors can gauge the expected rate of return based on the property's net operating income and value, helping them make informed decisions; to learn more about this essential metric, check out our article on what is a cap rate.
In Evansville's commercial real estate market, where there are currently 65 available listings, understanding cap rates is vital in determining the viability of an investment opportunity, especially when considering factors like the average price per square foot of $112 USD and average property size of 34,524 square feet.
What is considered a commercial property?
In Evansville, Indiana, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and manufacturing facilities, which can be found among the 65 available listings of commercial real estate for sale in the area.
These properties can range in size from 34,524 square feet to 456,941 square feet, with an average price per square foot of $112 USD and an average cap rate of 7.77%, making them attractive options for investors and business owners looking to establish or expand their operations in Evansville.
