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Key Details
Sold Price $795,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Subdivision None
MLS Listing ID 202334926
Sold Date 11/09/23
Year Built 2003
Annual Tax Amount $13,649
Lot Size 0.910 Acres
Property Description
Remarkable 4-unit commercial building built 2003 with 6,098 +/- interior rentable square footage on 0.91acres +/-. Three units are currently leased with Suite 100 vacant. Could easily be leased by buyer. Site is on City water and sewer, with electric separately metered. Private parking, suite signage and monument sign on Ireland Road. Rents are adjusted annually via Consumer Price Index (CPI), per lease. 2022 CAP Rate was 9.94% which included a 12% average Property Management Fee. Estimated 2023 CAP rate (with 1 vacancy) is projected at 7.53%.
Location
State IN
County St. Joseph County
Area St. Joseph County
Zoning C Commercial
Direction NW corner Ireland Road at Fellows, between Michigan Street and Miami. Next to Communitywide Federal Credit Union and just east of the new Gates Auto Dealership; west of Erskine Golf Course. Minutes from US 20 ByPass, US 31 and Indiana Toll Road.
Interior
Flooring Carpet, Vinyl
Appliance Lease
Exterior
Fence None
Waterfront No
Roof Type Shingle
Parking Type On-site service parking but not reserved
Building
Story 1
New Construction No
Others
Financing Cash,Conventional
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IDX information provided by the Indiana Regional MLS
Bought with Matthew Creviston • Re/Max County Wide 1st
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