2513 Lanier DrMadison, IN 47250

Property Details for 2513 Lanier Dr

Year built

1971

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

1,040 SF

Property type

Office properties

Property subtype

Other office properties

APN

39-08-21-331-029.003-007

APU

390821331029003007

Description

This exceptional commercial property at 2513 Lanier Drive in Madison, Indiana, presents a fantastic investment opportunity. The building, constructed of block and brick, offers versatile space ideal for a variety of businesses. The main building features office space, a convenient kitchenette, and two half bathrooms. Adding significant value is a large, 1041-square-foot garage equipped with an overhead door, perfect for storage, expansion, or additional workspace. The 0.17-acre lot provides ample space for operations. The property is zoned for local business use, allowing for a range of possibilities including home occupations, apartments, and retail (including grocery stores). Detailed permitted and conditional use information is available upon request. This prime location on a Madison hilltop offers excellent visibility and accessibility. The two yard barns are not included in the sale. Priced at $148,000, this property represents a compelling opportunity to establish or expand your business in a thriving community. Don't miss out

• CAP approach

  CAP return

  Valuation

  6%

  $173,415

  6.5%

  $160,075

  7%

  $148,641

• Comparable approach

  Method

  Valuation

  Relative Method

  $89,523

  Geo Method

  $89,523

• Alternative Use

  Use

  Valuation

  Residential

  $198,493

  Hospitality

  $181,819

  Educational

  $151,271

  Medical

  $156,473

  Retail

  $235,310

Location Insight

City

Madison

County

Jefferson

State

Indiana

Latitude

38.7733

Longitude

-85.4169

CBSA code

31500

CBSA name

MADISON, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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