423 Commerce RdRichmond, IN 47374

Property Details for 423 Commerce Rd

Year built

1989

Construction

WOOD

Lot size

1.56 AC

Property size (Sq ft)

9,040 SF

Zone code

ZO01

Property type

Office properties

Property subtype

Other office properties

APN

89-16-36-320-102.000-030

APU

891636320102000030

Description

This single-story, 9,040-square-foot commercial property at 423-425 Commerce Rd, Richmond, IN 47374, offers flexible office space ideal for various uses, including executive, traditional, and medical offices. Built in 1989, the building features three suites, with a minimum divisible space of 1,500 square feet and up to 9,040 square feet available contiguously. The property boasts ample parking with 40 spaces and is conveniently located near I-70 and US 40 on Richmond's East Side. Recent improvements include new HVAC units, fresh paint, and new flooring throughout. The building's sturdy steel construction ensures durability, and the space includes numerous private offices and conference rooms, along with handicap accessibility. This exceptional opportunity provides a blend of modern amenities and convenient location, making it an attractive option for businesses seeking high-quality office space in Richmond, Indiana.

• CAP approach

  CAP return

  Valuation

  6%

  $1,432,164

  6.5%

  $1,321,997

  7%

  $1,227,569

• Comparable approach

  Method

  Valuation

  Relative Method

  $699,868

  Geo Method

  $1,122,678

• Alternative Use

  Use

  Valuation

  Residential

  $1,639,276

  Hospitality

  $1,501,568

  Educational

  $1,249,287

  Medical

  $1,292,252

  Retail

  $1,943,336

Location Insight

City

Richmond

County

Wayne

State

Indiana

Latitude

39.8351

Longitude

-84.8233

CBSA code

39980

CBSA name

RICHMOND, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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