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Blue Holdings 6301 Old Boonville Hwy 13,856 SF Industrial Building Evansville, IN 47715 $2,600,000 ($187.64/SF) 7.53% Cap Rate
Investment Highlights
- New Mechanicals, Room to add on building and parking in 3.77 acres, Great Location!
- NOI stability with in-place rents; scalable hold profile aligning with investor and owner-occupant strategies.
- 44 surface parking spaces, expandable under current land capacity.
- Expansion-ready parcel exceeding typical site ratios in suburban Evansville office markets.
Executive Summary
Conveniently located at the entrance to the industrial corridor of Evansville, this building offers a new owner the ability to set up shop for multiple types of users: industrial manufacturing, distribution, flex, office conversion and more.
The real estate was purchased and renovations began in 2021. By Summer of 2022, the two buildings were completely gutted down to the metal shell and concrete floors. The existing two buildings were joined together and received all new; HVAC, electrical, plumbing, wiring, sprinkler system, fire alarm, security, flooring, drywall, etc. The building is approximately 13,856 sf total and sits on 3.77 acres.
The appraisal that was conducted in 2023 was before the owners acquired the additional two acres adjoining the property. This property allows for the possibility of expanding the play structures and opportunities to outdoor playgrounds as well as expanding parking. It also allows the owner to control who their potential neighbors could be in the future.
The real estate was purchased and renovations began in 2021. By Summer of 2022, the two buildings were completely gutted down to the metal shell and concrete floors. The existing two buildings were joined together and received all new; HVAC, electrical, plumbing, wiring, sprinkler system, fire alarm, security, flooring, drywall, etc. The building is approximately 13,856 sf total and sits on 3.77 acres.
The appraisal that was conducted in 2023 was before the owners acquired the additional two acres adjoining the property. This property allows for the possibility of expanding the play structures and opportunities to outdoor playgrounds as well as expanding parking. It also allows the owner to control who their potential neighbors could be in the future.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$220,000
|
$15.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$220,000
|
$15.88
|
| Taxes |
$24,102
|
$1.74
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$24,102
|
$1.74
|
| Net Operating Income |
$195,898
|
$14.14
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $220,000 |
| Annual Per SF | $15.88 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $220,000 |
| Annual Per SF | $15.88 |
| Taxes | |
|---|---|
| Annual | $24,102 |
| Annual Per SF | $1.74 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $24,102 |
| Annual Per SF | $1.74 |
| Net Operating Income | |
|---|---|
| Annual | $195,898 |
| Annual Per SF | $14.14 |
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Deep Blue Indoor Play
- Arts, Entertainment, and Recreation
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Deep Blue Indoor Play | Arts, Entertainment, and Recreation | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
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Blue Holdings | 6301 Old Boonville Hwy