122 5Th StRichmond, IN 47374

Property Details for 122 5Th St

Year built

1963

Construction

TYPE NOT SPECIFIED

Lot size

0.14 AC

Property size (Sq ft)

2,112 SF

Zone code

ZO01

Property type

Office properties

Property subtype

Other office properties

APN

89-16-31-440-602.000-030

APU

891631440602000030

Description

This exceptional commercial property, located at 122-126 NW 5th St in Richmond, Indiana, offers a unique opportunity for businesses seeking high-visibility space. Situated on a 0.25-acre lot in Wayne County, this single-story, 2,112 square foot building was constructed in 1963 and boasts a flexible layout suitable for various uses, including traditional office, executive office, medical office, or creative office space. Currently, the entire 2,112 square feet is available for lease, offering a significant opportunity for a single tenant. Alternatively, the space can be divided, with a minimum leasable area of 1,056 square feet. The property's high visibility on the bustling West side makes it ideal for businesses seeking maximum exposure. The building consists of two suites and is adaptable to the needs of a new tenant, with the owner open to build-outs for long-term leases. This presents a rare chance to secure a well-located, versatile commercial space in a thriving area. The property's history as a former barber shop adds to its unique character and potential for creative adaptation.

• CAP approach

  CAP return

  Valuation

  6%

  $292,555

  6.5%

  $270,051

  7%

  $250,762

• Comparable approach

  Method

  Valuation

  Relative Method

  $243,325

  Geo Method

  $262,289

• Alternative Use

  Use

  Valuation

  Residential

  $334,863

  Hospitality

  $306,733

  Educational

  $255,198

  Medical

  $263,975

  Retail

  $396,975

Location Insight

City

Richmond

County

Wayne

State

Indiana

Latitude

39.831

Longitude

-84.9083

CBSA code

39980

CBSA name

RICHMOND, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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