1503 Main StRichmond, IN 47374

Property Details for 1503 Main St

Year built

1997

Construction

WOOD

Lot size

0.90 AC

Property size (Sq ft)

7,097 SF

Zone code

ZO01

Property type

Retail space

APN

89-16-33-340-712.000-030

APU

891633340712000030

Description

This prime Richmond, Indiana retail property, located at 1503 East Main Street, offers 6,450 square feet of space in a strip center setting. Currently, 5,724 square feet is available, divisible into units as small as 574 square feet, with a maximum contiguous space of 5,150 square feet. The property sits on a 0.9-acre lot (39,139 square feet) in Wayne County. Its strategic location ensures high visibility and accessibility, ideal for attracting significant foot traffic. The property features expansive storefront windows and ample parking. The interior is customizable, allowing for efficient floor planning and product displays to suit various retail or commercial uses. The modern amenities and professional exterior create a welcoming environment for businesses seeking a prominent and adaptable space to engage their target audience. This is an exceptional opportunity for businesses looking to establish or expand their presence in a thriving Richmond location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,551,675

  6.5%

  $1,432,315

  7%

  $1,330,007

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,725,258

  Geo Method

  $2,221,068

• Alternative Use

  Use

  Valuation

  Residential

  $1,208,212

  Hospitality

  $1,106,715

  Educational

  $920,774

  Medical

  $952,441

  Retail

  $1,432,315

Location Insight

City

Richmond

County

Wayne

State

Indiana

Latitude

39.829

Longitude

-84.8814

CBSA code

39980

CBSA name

RICHMOND, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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