Downtown Wabash Building

Retail-Commercial for Sale
Catylist Listing ID: 30840437
Property Subtypes: Restaurant, Street Retail, Other
Building Size (RSF): 11,220 SF
Gross Land Area: 3,354 SF
Sale Price: $250,000
Unit Price: $22.28 PSF
Property Use Type: Vacant/Owner-User
Usable Size (USF): 11,220 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/3/2023

Overview / Comments

Located at the central point of Wabash commerce: Wabash Street & West Market St. 178 S Wabash is on the National Register of Historical Places. Architectural style: Second Empire. Whether you are visitor or a life-long resident of Wabash this building is always head-turner, admired in photographs, and often the focal point for photographers and artists. Over 11,000 sq ft of space and is 4 stories tall. The 5th story is basically an attic area with no functional use. 1st level& 2nd level are finished and previously utilized as a bakery. The (west side) was last used as a beauty salon, now vacant and could easily be opened up again and utilized as one larger space. 3rd level has office space and storage areas. 4th level needs remodeling but has so much potential to be even more usable space! 3Restrooms. Kitchen with appliances and furnishings negotiable. Beauty salon was rented for $800/month including utilities. 3rd level has plumbing and bathroom fixtures but is not in use and the current owner has never utilized the plumbing on 3rd floor and above.

Additional Details

Nearest MSA: Wabash
County: Wabash
Taxing Authority: Wabash City
Tax ID/APN: 85-14-11-304-158.000-009
Zoning: HD- HISTORIC DOWNTOWN
Retail Clientele: General, Business, Tourist
Property Located Between: Wabash St and Miami St. Best downtown location in Wabash
Property Visibility: Excellent
Largest Nearby Street: Wabash St
Highway Access: State Road 13 which is also Wabash St.
Airports: Wabash Municipal Airport . Ft Wayne International 45 minutes
Site Description: Typical zero lot line downtown lot
Area Description: Located in downtown Wabash's Historic District. Close to everything and great visibility and high traffic count. Anyone coming through Wabash drives right past this beautiful building
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 3,157 SF
Property Condition: Average
Year Built: 1876
Construction/Siding: Brick
Exterior Description: Large Historic Brick building with great exterior appeal.
Parking Type: Surface
Parking Description: Street parking as well as a city lot 1/2 block west.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, Fiber Optic
Interior Description: The main level was recently a bakery on the east side with a second level which is open and very attractive and a beauty shop on the west side. Both are currently vacant. The second level has some finish but not used currently and the third level is mainly open and unused area
Zoning Description: Historic Downtown
Lot Frontage: 41
Lot Depth: 77
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Normal utility easements
Land Ownership: Fee simple
Legal Description: OP SE 77x41 LOT 77

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,431 10,845 14,617
Median Age: 39.81 41 42.26
Households: 2,284 4,547 6,019
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