Downtown Rental Investment

Retail-Commercial for Sale
Catylist Listing ID: 30807800
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Building Status: Proposed
Building Size (RSF): 9,879 SF
Gross Land Area: 0.34 Acres
Sale Price: $2,900,000
Unit Price: $293.55 PSF
Ceiling: 12 ft.
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/12/2023

Overview / Comments

Downtown retail & apartment building with adjacent parking lot and storage units for sale. Property features two street level retail spaces (+/- 2,000 SF each), both with large open display area with large windows facing busy S. Walnut St. Building also has two main level apartments as well as 4 other second level apartments; features a mix of 1 bedroom/2 baths & 2 bedroom/2 baths. Building is fully leased with the opportunity to generate additional income from 23 storage units, (1) 2 car garage and 18 parking spaces. LL pays water/sewer and common area electricity. Tenants responsible for gas & electric on separate meters.

Additional Details

Nearest MSA: Bloomington
County: Monroe
Tax ID/APN: 53-08-04-200-176.000-009
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: W 1st ST & W Smith St.
Property Visibility: Excellent
Largest Nearby Street: S. Walnut St.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1927
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 18
Parking Type: Surface
Parking Description: Private, paved lot. By resident permit only, no public parking.
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: Mixed-Use Downtown
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 015-52340-00 Seminary L21 & 015-17170-00 Seminary Pt Lot 21

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,954 85,142 113,878
Median Age: 23.98 28.62 30.85
Households: 8,690 33,446 45,040
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