290 Hilliard StWheatfield, IN 46392

Property Details for 290 Hilliard St

Year built

1980

Construction

WOOD

Lot size

3.15 AC

Property size (Sq ft)

6,240 SF

Property type

Office properties

APN

37-16-25-000-075.002-034

APU

371625000075002034

Description

This exceptional 6,240-square-foot office building presents a compelling investment opportunity in Wheatfield, Indiana. Situated on a spacious 3.15-acre lot just off Highway 49, this single-story, Class B property boasts a steel siding and roof. Built in 1980, the building features ample parking and includes multiple offices, recreation rooms, large gathering spaces, a kitchen area, and several bathrooms. Recent upgrades include a new furnace and A/C system installed in 2022, and significant renovations in 2019 encompassing new windows, an updated A/C unit, kitchen remodel, new doors, a renovated restroom, and fresh paint throughout. The property is served by a well and septic system and is being sold AS-IS. The asking price of $325,000 translates to an attractive price per square foot, significantly lower than comparable new construction costs. This versatile property is ideally suited for traditional office use or offers potential for conversion into a flex space. Its convenient location near Highway 49 and Highway 10 provides excellent accessibility. The large lot provides ample room for expansion or future development. This is a rare opportunity to acquire a well-maintained, updated office building at a highly competitive price point.

• CAP approach

  CAP return

  Valuation

  6%

  $2,005,358

  6.5%

  $1,851,100

  7%

  $1,718,878

• Comparable approach

  Method

  Valuation

  Relative Method

  $812,760

  Geo Method

  $812,760

• Alternative Use

  Use

  Valuation

  Residential

  $2,295,364

  Hospitality

  $2,102,541

  Educational

  $1,749,289

  Medical

  $1,809,450

  Retail

  $2,721,117

Location Insight

City

Wheatfield

County

Jasper

State

Indiana

Latitude

41.1956

Longitude

-87.0462

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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