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1108 NW 5th Street

Richmond, IN 47353
  • $1,200,000
  • STATUS: Active
  • ON SITE: 35 Days
  • MLS #: 202340241
UPDATED: 26 min ago
$1,200,000
  • 0
    BEDS
  • 2.89
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 14,000
    SQFT
Neighborhood:
Type:
Commercial
Built:
2021
County:
Area:

School Ratings & Info

Listing provided by Jon Kindred of F.C. Tucker/Crossroads Real Estate: Cell: 765-465-9409.

Description

Exceptional opportunity to own a fully operational storage facility in Richmond, IN. At 100% occupancy, the facility will produce an 8.64% CAP RATE. Current occupancy is approximately 85% producing a 5.81% CAP RATE. There is significant room for growth with possible future expansion of 110+ additional units. Preliminary plans are already in place that could increase property to a 9.59% CAP RATE.* The property is surrounded by a security fence, has security monitoring in place, and offers 24/7 access through the secured gate. The property consists of 39 units that are 10 x 10, 60 units that are 10 x 12, 5 units that are 10 x 24, 30 outdoor parking units, and a 1,600 SF store front. The land is 2.89 acres zoned outdoor commercial. All site work and grading for the entire property has been completed in advance. *All taxes, expenses, and build out costs are only broker estimates for proposed build. Buyer is to conduct their own due diligence to determine feasibility for their own financial goals. *All taxes & expenses are estimates only for proposed build. Buyer is to conduct their due diligence to determine feasibility for their own financial goals.

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© 2023 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: 2023-12-07T20:28:41.887.

www.parkerteamhomes.com/homes/144921533
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1108 NW 5th Street Richmond, IN 47353

  • Price: $1,200,000
  • Status: Active
  • On Site: 35 Days
  • Updated: 26 min ago
  • MLS #: 202340241
0
Beds
0
Baths
0
½ Baths
2.89
Acres
14,000
SQFT
$86
$/SQFT
2021
Built
Neighborhood:
None
County:
Wayne
Area:
Wayne
Property Description
Exceptional opportunity to own a fully operational storage facility in Richmond, IN. At 100% occupancy, the facility will produce an 8.64% CAP RATE. Current occupancy is approximately 85% producing a 5.81% CAP RATE. There is significant room for growth with possible future expansion of 110+ additional units. Preliminary plans are already in place that could increase property to a 9.59% CAP RATE.* The property is surrounded by a security fence, has security monitoring in place, and offers 24/7 access through the secured gate. The property consists of 39 units that are 10 x 10, 60 units that are 10 x 12, 5 units that are 10 x 24, 30 outdoor parking units, and a 1,600 SF store front. The land is 2.89 acres zoned outdoor commercial. All site work and grading for the entire property has been completed in advance. *All taxes, expenses, and build out costs are only broker estimates for proposed build. Buyer is to conduct their own due diligence to determine feasibility for their own financial goals. *All taxes & expenses are estimates only for proposed build. Buyer is to conduct their due diligence to determine feasibility for their own financial goals.
Exterior Features

Construction Type1 stick and block Exterior Block Fence Chain Link Fire Doors YN No Location City Lot Dimensions 512x246 Parking LotPaved Parking Type lot Parking YN Yes Road Access City Road Surface Paved Roof Material Metal Security Light YN Yes Sign Type Street Sign Pole/Sign Signs YN Yes Water Type Pond Waterfront YN Yes

Interior Features

Basement Foundation Slab Basement YN No Bldg1 Above Grd Sq Ft 1600 Bldg1 Below Grd Sq Ft 0 Bldg1 Fin Office Sq Ft 1600 Bldg2 Above Grd Sq Ft 8400 Bldg2 Below Grd Sq Ft 0 Bldg2 Fin Office Sq Ft 0 Bldg3 Above Grd Sq Ft 4000 Bldg3 Below Grd Sq Ft 0 Bldg3 Fin Office Sq Ft 0 Ceiling Height 10 Column Spacing 0 Cooling Window Flooring ConcreteMixed Heating Fuel Forced Air Interior Height 10 Interior Walls BlockDrywallMetal Special Features FencedDisplay Window(s)Office SpaceSecurity Fence Total Restrooms 2

Property Features

Annual Taxes 17511 Auction YN No Buildings 3 Burglar Alarm YN Yes Currently Leased YN Yes Documents Available Aerial Photo Enterprise Zone No Equipment YN No Fire Protection City For Sale Or Rent For Sale Ingress Egress Asphalt Lease Available YN No Lease Term Remaining variable New Construction No Owner Real Estate License YN No Planned Unit Dev YN No Platted YN Yes Present Use Storage Unit/Facility Property Sub Type Mixed Use Reo YN No Sale Includes BuildingBusinessLand Sewer City Smoke Fire Alarm YN Yes Sprinkler System YN No Tax Abatement No Township Wayne Water Heater YN Yes Water Softener YN No Water Utility City Year Taxes Payable 2022

Listing provided by Jon Kindred of F.C. Tucker/Crossroads Real Estate: Cell: 765-465-9409.

© 2023 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.


© 2023 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: 2023-12-07T20:28:41.887.

 
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Parker Team | Keller Williams Realty
3298 McCarty Lane Suite A
Lafayette IN, 47905
Listing provided by Jon Kindred of F.C. Tucker/Crossroads Real Estate: Cell: 765-465-9409.