Downtown Auburn Investment

Retail-Commercial for Sale
Catylist Listing ID: 30794485
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 6,188 SF
Sale Price: $485,000
Unit Price: $78.38 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/17/2022

Overview / Comments

Great property for startup or experienced investor, located in the heart of Downtown Auburn.

Property consist of three parcels containing two street-level retail spaces, one 2-bedroom apartment, and one 1-bedroom apartment.

Major 2018 Renovation includes new HVAC, plumbing, new roof overlay, new salon space, and apartments.

Value add opportunity, current rental rates below market.

Additional Details

Nearest MSA: Auburn
County: DeKalb
Tax ID/APN: 18-06-29-386-002, 18-06-29-386-003, 18-06-29-386-017
Zoning: DC (DOWNTOWN CORE)
Retail Clientele: General
Property Located Between: E 5th St and E 6th St
Property Visibility: Excellent
Largest Nearby Street: N Main Street
Feet of Frontage: 44
Traffic/Vehicle Count: 12,828
Area Description: Auburn, Indiana, best known for the production of the Auburn Cord vehicle, was named of the region's top micropolitan areas based on its economic strength, location and propensity for development. Auburn has invested millions in the revitalization of its downtown core which promotes growth and secures an economically viable future for area businesses.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Good
Year Built: 1900
Year Renovated: 2018
Construction/Siding: Brick
Parking Description: Street parking

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,120 14,507 27,475
Median Age: 35.11 37.44 37.37
Households: 2,507 5,831 10,518
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