Three Unit Retail Space in Wabash
Retail-Commercial
for Sale
| Catylist Listing ID: |
30839024 |
| Property Subtypes: |
Mixed Use
|
| Building Size (RSF): |
5,921 SF
|
| Gross Land Area: |
26,400 SF
|
| Sale Price: |
$244,900 |
| Unit Price: |
$41.36 PSF |
| Ceiling: |
12 ft. |
| Property Use Type: |
Investment |
| Usable Size (USF): |
5,921 SF |
| Sale Terms: |
Cash to Seller, Other |
| Cap Rate: |
3.0% |
| Average Occupancy Rate: |
67 |
| Last Updated: |
9/10/2023 |
Overview / Comments
|
Presenting an exceptional investment opportunity: a prime commercial space located on the coveted Cass Street/State Road 15. This three-unit property boasts an impressive 88-feet of frontage and direct access, making it highly desirable for businesses seeking excellent visibility and a steady flow of customers. With two units already occupied, immediate revenue is guaranteed, while the building's size allows for expansion and customization to further enhance income potential. Additionally, land to the west and south are also available to purchase for future growth. While minor maintenance issues exist, our team can guide you in addressing them to ensure a top-notch investment. Don't miss out on the chance to capitalize on the adjacent properties for sale and establish a dominant presence in this thriving commercial district. Act swiftly to secure this extraordinary opportunity and achieve substantial returns.
|
Financials
| Finance Data Year |
2023 |
| Real Estate Taxes - Annual($) |
$9,393 (Annual) |
| Assessed Value - Total($) |
$311,500 (Annual) |
| Gross Operating Income |
$25,200 (Annual) |
| Net Operating Income |
$6,799 (Annual) |
| Actual or Proforma Year |
Actual |
Current Tenants
| Tenant Business Name |
iMassage |
| Industry Type |
Retail Trade |
| Is Renting? |
Yes |
| SF of Space Occupied |
1,986 SF |
| Current Rent |
$4 PSF (Annual) |
| Escalations |
None |
| Options |
Month-to-Month |
| Tenant Business Name |
Chiropractic Service Station |
| Industry Type |
Health Care and Social Assistance |
| Is Renting? |
Yes |
| SF of Space Occupied |
1,967 SF |
| Current Rent |
$4 PSF (Annual) |
| Escalations |
None |
| Options |
Month-to-Month |
Additional Details
| Nearest MSA: |
Wabash |
| County: |
Wabash |
| Tax ID/APN: |
85-14-03-404-003.000-008 & 85-14-03-404-002.000-008 |
| Zoning: |
GB, GENERAL BUSINESS |
| Property Located Between: |
US 24 and Harrison Avenue |
| Property Visibility: |
Good |
| Largest Nearby Street: |
Harrison Avenue |
| Feet of Frontage: |
88 |
| Highway Access: |
State Highway - one access point |
| Site Description: |
Level, rectangular lot. |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
5,921 SF |
| Property Condition: |
Average |
| Year Built: |
1964 |
| Roof Type: |
Flat |
| Construction/Siding: |
Block, Brick, Stone |
| Exterior Description: |
Concrete block construction with stone and brick veneer on the front. |
| Total Parking Spaces: |
12 |
| Parking Type: |
Surface |
| Parking Description: |
Off-street asphalt parking lot |
| Sprinklers: |
None |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Air Conditioning: |
Package Unit |
| Internet Access: |
Cable |
| Interior Description: |
1018 N Cass St is currently used as a massage therapy and beauty salon. 1020 is vacant. 1022 currently used as a chiropractor office. Flooring is concrete, carpeting, linoleum. Walls are concrete block, drywall, paneling and none. Ceilings are ceiling tile and none. |
| Zoning Description: |
General Business which allows for most office, retail uses |
| Lot Frontage: |
88 |
| Lot Depth: |
300 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Utilities |
| Easements Description: |
None |
| Land Ownership: |
Owned |
| Legal Description: |
PT SE 1/4 03-27-06 0.17 ac PT FR NE 1/4 10-27-06 and PT FR NE 1/4 10-27-06 0.5165 ac PT SE 1/4 03-27-06 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
5,428 |
11,528 |
13,361 |
| Median Age: |
42.24 |
41.3 |
42.02 |
| Households: |
2,352 |
4,816 |
5,543 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Indiana Commercial Board of REALTORS® nor
Moody's assume any liability for errors or omissions.
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