600 Main StRichmond, IN 47374

Property Details for 600 Main St

Year built

1924

Property size (Sq ft)

34,096 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional Class A office building, located at 600 E Main St in Richmond, Indiana (47374), presents a compelling investment opportunity. Boasting 34,096 square feet across four stories, this meticulously maintained property underwent a complete renovation in 2023, featuring new elevators, carpeting, and fresh paint throughout. The building is currently vacant, offering immediate occupancy for an owner/user or the potential for leasing to credit-rated tenants. With a net lease structure and a compelling asking price of $1,400,000 ($41.06/sq ft), this property offers a strong 12.75% cap rate. Constructed in 1924 and situated in a revitalizing downtown area, this strategically located asset benefits from a planned revitalization grant, including the construction of new apartments directly across the street. The property is zoned C1 and offers significant potential for growth within a thriving community. This is a rare chance to acquire a turnkey, energy-efficient office building in a rapidly developing downtown location.

Location Insight

City

Richmond

County

Wayne

State

Indiana

Latitude

39.8294

Longitude

-84.894

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