205 Main StSalem, IN 47167

Property Details for 205 Main St

Year built

1962

Construction

TYPE NOT SPECIFIED

Lot size

0.23 AC

Property size (Sq ft)

3,524 SF

Property type

Commercial real estate

APN

88-24-17-331-084.000-022

APU

882417331084000022

Description

This 3,524 square foot commercial property at 205 N Main Street, Salem, IN, presents a unique investment opportunity. The building boasts five offices, a conference room, and a large two-bay attached garage, providing ample space for a variety of uses. Three additional storage units offer extra versatility. The property benefits from excellent road frontage on a high-traffic section of Main Street, ensuring high visibility. A new HVAC system was installed in 2020, minimizing maintenance concerns. Currently generating a stable monthly income of $1,150 from month-to-month tenants, this property offers immediate return on investment. The seller is open to considering a contract sale with a $50,000 down payment. Alternatively, the owner may consider a monthly lease at $2,300 per month plus utilities, providing flexibility for potential buyers. This versatile property is ideal for businesses seeking a prominent location with substantial space and existing income potential. The property sits on a 0-acre lot.

• Alternative Use

  Use

  Valuation

  Residential

  $497,566

  Hospitality

  $455,768

  Educational

  $379,193

  Medical

  $392,234

  Retail

  $589,856

Location Insight

City

Salem

County

Washington

State

Indiana

Latitude

38.6071

Longitude

-86.1004

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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