2379 Main StBluffton, IN 46714

Property Details for 2379 Main St

Year built

2019

Construction

WOOD

Lot size

0.52 AC

Property size (Sq ft)

6,142 SF

Property type

Office properties

APN

90-05-22-300-005.000-011

APU

900522300005000011

Description

This exceptional commercial building, constructed in 2019, presents a compelling investment opportunity in Bluffton, Indiana. Boasting over 6,100 square feet of versatile space, the property is currently configured as five rental units, generating substantial annual income. Four office suites are complemented by a unique 600-square-foot heated garage, a standout feature with a 26-foot high ceiling and a 16' x 12' overhead door. Each unit benefits from independently controlled heating and cooling systems, utilizing high-efficiency gas furnaces for optimal tenant comfort and cost-effectiveness. Currently, one tenant occupies the building under a four-year lease, yielding over $29,000 annually, with built-in rent increases scheduled. The property's strategic location on St. Rd. 1, Bluffton's main north-side traffic corridor, ensures high visibility near Lowe's, maximizing exposure and attracting potential tenants. Further enhancing its appeal, additional land is available on-site, providing significant potential for future expansion and development. This meticulously maintained property, situated on a 0.61-acre lot, offers a rare blend of immediate income generation and long-term growth prospects. The asking price represents a significant discount from the original listing price, making this a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,013,055

  6.5%

  $935,128

  7%

  $868,333

• Comparable approach

  Method

  Valuation

  Relative Method

  $404,630

  Geo Method

  $120,936

• Alternative Use

  Use

  Valuation

  Residential

  $1,159,558

  Hospitality

  $1,062,149

  Educational

  $883,696

  Medical

  $914,087

  Retail

  $1,374,638

Location Insight

City

Bluffton

County

Wells

State

Indiana

Latitude

40.777

Longitude

-85.1653

CBSA code

14160

CBSA name

BLUFFTON, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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