17 8Th StRichmond, IN 47374

Property Details for 17 8Th St

Year built

1947

Construction

TYPE NOT SPECIFIED

Lot size

0.13 AC

Property size (Sq ft)

6,966 SF

Zone code

ZO01

Property type

Retail space

APN

89-18-05-220-210.000-030

APU

891805220210000030

Description

This thriving, 77-year-old shoe store, located at 17 S 8th St in Richmond, Indiana (47374), is offered for sale at $700,000. The business occupies a 5,676 square foot storefront in a beautifully renovated historic downtown building, built in 1947. The property sits on a 5,676 square foot lot and is zoned CB. This single-unit business boasts a stellar reputation for high-quality footwear and exceptional customer service, cultivated over decades. The current owners have built a loyal clientele and a strong community presence, creating a business with significant goodwill and potential for continued growth. The sale includes the established business, its inventory, and the physical storefront. This presents a unique opportunity to acquire a well-established, profitable business with a rich history and a bright future in a revitalized downtown area. The property's APN is 89-18-05-220-210.000-030. This is an exceptional opportunity for an entrepreneur seeking to own a successful, community-focused business with a proven track record.

• CAP approach

  CAP return

  Valuation

  6%

  $1,522,586

  6.5%

  $1,405,464

  7%

  $1,305,074

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,695,518

  Geo Method

  $2,180,071

• Alternative Use

  Use

  Valuation

  Residential

  $1,185,562

  Hospitality

  $1,085,968

  Educational

  $903,513

  Medical

  $934,586

  Retail

  $1,405,464

Location Insight

City

Richmond

County

Wayne

State

Indiana

Latitude

39.8284

Longitude

-84.8912

CBSA code

39980

CBSA name

RICHMOND, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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