Opportunity Zone Office/Retail Building

Office for Sale
Catylist Listing ID: 30835046
Property Subtypes: Executive Suites, Governmental, Institutional, Mixed Use, Office Building
Building Size (RSF): 40,752 SF
Gross Land Area: 0.65 Acres
Sale Price: $979,900
Unit Price: $24.05 PSF
Ceiling: 10.6 ft.
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Class of Space: Class B
Usable Size (USF): 40,752 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/2/2023

Overview / Comments

Located on a 1/2 city block on the corners of Main and 8th Streets in the heart of Richmond, IN's actively revitalizing downtown
Perfect logistics for a multi-family redevelopment project with street-level retail frontage
Minutes from the major expressway interchanges of I-70/US 35 and US 40
Minutes from Indiana University East, Ivy Tech, and Earlham College Located in prime Opportunity Zone
Bicycle-friendly community with beautiful greenways

Beautiful, well-kept building with recent improvements; also, recent home to Chase Bank. The subject building is 6-story and 2-story and has great curb appeal taking up 1/2 city block with hard corners providing over 500 feet of street frontage. The property is located in an "Opportunity Zone" and the city wants to help capture optimal funds for the perfect project. A report on the housing shortage shows the immediate need for workforce, residential, and student housing needs. This formidable building could de?nitely be converted into a multifamily/retail anchor for downtown!

Additional Details

Nearest MSA: Richmond
County: Wayne
Tax ID/APN: 891632440505000030
Zoning: C-4
Property Visibility: Good
Highway Access: I-70/US 35 and US 40
Total Number of Buildings: 2
Number of Stories: 6
Year Built: 1924
Year Renovated: 2007
Parking Type: Surface, Other
Parking Description: Street Parking Only

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,317 36,504 48,649
Median Age: 34.07 39.2 40.27
Households: 7,084 14,719 19,821


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