728 Main StRichmond, IN 47374

Property Details for 728 Main St

Year built

1910

Construction

TYPE NOT SPECIFIED

Lot size

0.09 AC

Property size (Sq ft)

21,766 SF

Property type

Office properties

Property subtype

Other office properties

APN

89-16-32-440-615.000-030

APU

891632440615000030

Description

This exceptional mixed-use property, located at 728 E Main St in Richmond, Indiana (zip code 47374), presents a prime investment opportunity. The historic building offers a substantial 21,766 square feet of space, spread across five stories. Its versatile configuration includes spaces suitable for bank operations, storefront retail, and traditional office uses. Currently vacant, this building offers a blank canvas for a variety of redevelopment projects. The asking price is $999,000, translating to $45.90 per square foot. On-site parking is available for 27 vehicles. The property's location in downtown Richmond, within Wayne County, Indiana, provides excellent visibility and accessibility. This significant structure may qualify for matching grants or other potential funding opportunities, further enhancing its investment appeal. The building's rich history and prime location combine to create a unique and potentially lucrative investment prospect. Serious inquiries are encouraged to explore the full potential of this remarkable property.

• CAP approach

  CAP return

  Valuation

  6%

  $3,236,436

  6.5%

  $2,987,479

  7%

  $2,774,088

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,102,214

  Geo Method

  $2,703,120

• Alternative Use

  Use

  Valuation

  Residential

  $3,704,474

  Hospitality

  $3,393,278

  Educational

  $2,823,168

  Medical

  $2,920,261

  Retail

  $4,391,594

Location Insight

City

Richmond

County

Wayne

State

Indiana

Latitude

39.8293

Longitude

-84.8918

CBSA code

39980

CBSA name

RICHMOND, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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