415 Indiana AveAuburn, IN 46706

Property Details for 415 Indiana Ave

Year built

1993

Lot size

0.13 AC

Property type

Retail properties

Property subtype

Parking lots & garages

APN

17-06-30-480-006.000-025

APU

170630480006000025

Description

This Auburn, Indiana industrial property, located at 415 N Indiana Ave, offers a compelling investment opportunity. The 33,622 square foot building, constructed in 1930 and featuring a Class B designation, sits on a 1.81-acre lot and is zoned C1/Neighborhood Commercial. Currently housing three tenants under a gross lease, the property generates $87,600 in annual gross rental income. The building boasts two stories, two loading docks with dock-high doors, and a 12-foot ceiling height. Recent upgrades include updated electrical panels and renovated office spaces. The property includes 20 parking spaces and benefits from convenient access to SR 8 and I-69 (one mile away). Priced at $849,000, this multi-tenant warehouse and manufacturing facility presents a strong return on investment. The property's features, location, and current income stream make it an attractive option for investors seeking a stable and profitable asset in a growing market. The building's solid construction and recent improvements ensure long-term value and operational efficiency. The ample parking and convenient location further enhance its appeal to both tenants and investors. This is a rare opportunity to acquire a well-maintained, income-producing industrial property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,577,590

  6.5%

  $1,456,236

  7%

  $1,352,220

• Comparable approach

  Method

  Valuation

  Relative Method

  $283,125

  Geo Method

  $283,125

• Alternative Use

  Use

  Valuation

  Residential

  $1,228,390

  Hospitality

  $1,125,199

  Educational

  $936,152

  Medical

  $968,348

  Retail

  $1,456,236

Location Insight

City

Auburn

County

Dekalb

State

Indiana

Latitude

41.3685

Longitude

-85.0623

CBSA code

12140

CBSA name

AUBURN, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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