101 Anderson StElwood, IN 46036

Property Details for 101 Anderson St

Year built

1960

Lot size

0.11 AC

Property type

Retail properties

Property subtype

Banks

APN

48-04-15-202-088.000-027

APU

480415202088000027

Description

This exceptional 13,798 square foot, two-level commercial property is situated in the heart of Elwood, Indiana, at the highly visible intersection of State Road 13 and State Road 28. The building offers incredible versatility and is ideally suited for a variety of uses, including but not limited to: churches, restaurants, bars, schools with daycare facilities, and event centers. The upper level boasts approximately 7,000 square feet of open, adaptable space, perfect for customization to suit specific business needs. The lower level provides an additional 7,000 square feet, ideal for storage, offices, or other supplementary uses. This property sits on a 0.76-acre lot, ensuring ample space and visibility. The City of Elwood is open to considering tax abatement for this property, presenting a significant opportunity for cost savings. Detailed zoning information is available upon request. The asking price is $749,000. Buyers are responsible for all closing costs and taxes. Seller financing is available, making this a highly accessible opportunity for qualified buyers. This unique property presents endless potential for the right investor or business owner. Don't miss this chance to secure a prime commercial location in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $852,829

  6.5%

  $787,226

  7%

  $730,996

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,458,701

  Geo Method

  $1,458,701

• Alternative Use

  Use

  Valuation

  Residential

  $664,055

  Hospitality

  $608,271

  Educational

  $506,074

  Medical

  $523,479

  Retail

  $787,226

Location Insight

City

Elwood

County

Madison

State

Indiana

Latitude

40.2767

Longitude

-85.8411

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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