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    107, 109, 111 Market Street

    Nappanee, IN 46550
    • $349,900
    • STATUS: Active
    • ON SITE: 185 days
    • MLS #: 202013654
    $349,900
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,400
      SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1900
    County:
    Area:

    School Ratings & Info

    Description

    Great redevelopment opportunity in the heart of Downtown Nappanee. Located on the Southeast corner of Market St and Main St, this two story mixed-use building features 5 retail/office spaces on the ground level and approximately 7,700 sqft of potential residential space on the second floor with 14 foot ceilings. All 5 retail/office spaces are occupied and cash-flowing, with annual revenues of $50,400, including one second-story 3-bed 1-bath apartment which is also occupied. This building presents an investor the opportunity to redevelop the second story into 8-12 apartments and increase NOI significantly. Located a short distance from several new restaurants, bars and breweries, new apartments would be well situated to attract tenants. Comparable upper-market apartments are renting for $1,200 for 2-beds.

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    © 2020 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Parker Team | Keller Williams Realty. Data last updated: 2020-10-23T00:27:53.81.

    www.parkerteamhomes.com/homes/105162814
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    107, 109, 111 Market Street Nappanee, IN 46550

    • Price: $349,900
    • Status: Active
    • MLS #: 202013654
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    15,400
    SQFT
    $23
    $/SQFT
    1900
    Built
    Neighborhood:
    None
    County:
    Elkhart
    Area:
    Elkhart
    Property Description
    Great redevelopment opportunity in the heart of Downtown Nappanee. Located on the Southeast corner of Market St and Main St, this two story mixed-use building features 5 retail/office spaces on the ground level and approximately 7,700 sqft of potential residential space on the second floor with 14 foot ceilings. All 5 retail/office spaces are occupied and cash-flowing, with annual revenues of $50,400, including one second-story 3-bed 1-bath apartment which is also occupied. This building presents an investor the opportunity to redevelop the second story into 8-12 apartments and increase NOI significantly. Located a short distance from several new restaurants, bars and breweries, new apartments would be well situated to attract tenants. Comparable upper-market apartments are renting for $1,200 for 2-beds.
    Exterior Features

    Construction Type1 Site Built Exterior Brick Fire Doors YN Yes Lot Dimensions 62X125 Parking Street Parking Type On Street Parking YN Yes Road Access City Roof Material Flat Security Light YN Yes Sign Type Attached Building Signs Signs YN Yes Waterfront YN No

    Interior Features

    Basement Foundation Full BasementUnfinished Basement YN Yes Bldg1 Above Grd Sq Ft 15400 Bldg1 Below Grd Sq Ft 7700 Bldg1 Fin Office Sq Ft 7700 Ceiling Height 12 Column Spacing N/A Cooling Central Air Flooring CarpetTileWood Heating Fuel GasForced AirHot Water Interior Height 12 Interior Walls Drywall Internal Rooms OfficeShowroomStorageWorkroom Special Features 220 VoltsSingle PhaseLiving SpaceAlleyBasementDelivery DoorDisplay Window(S)Office Space Total Restrooms 6

    Property Features

    Annual Taxes 6220 Assessed Value 223900 Auction YN No Buildings 1 Burglar Alarm YN No Currently Leased YN Yes Documents Available Lease Enterprise Zone Yes Equipment YN No Fire Protection City For Sale Or Rent For Sale Gross Monthly Rent 4200 Ingress Egress Asphalt Lease Term Remaining Term Varies Per Unit(Over 6 Months) New Construction No Owner Real Estate License YN No Planned Unit Dev YN No Platted YN Yes Present Use Office/ShowroomRetail Property Sub Type Mixed Use Property Use Investment Property Reo YN No Sale Includes BuildingLandLease Sewer City Smoke Fire Alarm YN Yes Sprinkler System YN No Tax Abatement No Township Union Water Heater YN Yes Water Softener YN No Water Utility City Year Taxes Payable 2018

    Listing courtesy of Joseph Tiffany of Tiffany Group Real Estate Advisors Llc.
    © 2020 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Parker Team | Keller Williams Realty.


    © 2020 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Parker Team | Keller Williams Realty. Data last updated: 2020-10-23T00:27:53.81.

     
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    Parker Team | Keller Williams Realty
    3298 McCarty Lane Suite A
    Lafayette IN, 47905