620 Washington StWinchester, IN 47394

Property Details for 620 Washington St

Year built

1972

Construction

WOOD

Lot size

0.75 AC

Property size (Sq ft)

6,544 SF

Property type

Retail space

APN

68-09-21-259-117.000-021

APU

680921259117000021

Description

This exceptional investment opportunity presents a 7,400 square foot multi-tenant retail building situated at 620-640 E Washington Street in Winchester, Indiana, 47394. The property, built in 1972 and zoned C2, boasts a prime location on the heavily trafficked ST RD 32, ensuring high visibility and accessibility. Currently, a long-term lease is in place with Pizza King, occupying 3,100 square feet. The remaining 4,300 square feet offers significant potential for development, allowing for "build-to-suit" options to accommodate various needs, including additional retail space, offices, or light manufacturing. The building features numerous updates, attractive display windows, ample paved parking, and four overhead doors for convenient access. This property represents a compelling investment prospect due to its strategic location, existing tenancy, and flexible development possibilities. The asking price is $999,000. This is a rare chance to acquire a well-maintained commercial property in a thriving Indiana community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,524,000

  6.5%

  $1,406,769

  7%

  $1,306,285

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,276,708

  Geo Method

  $324,705

• Alternative Use

  Use

  Valuation

  Residential

  $1,186,662

  Hospitality

  $1,086,976

  Educational

  $904,351

  Medical

  $935,453

  Retail

  $1,406,769

Location Insight

City

Winchester

County

Randolph

State

Indiana

Latitude

40.1723

Longitude

-84.9717

Property Tax & Assessments

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