622 Gospel StPaoli, IN 47454

Property Details for 622 Gospel St

Year built

1941

Construction

WOOD

Lot size

0.28 AC

Property size (Sq ft)

5,550 SF

Property type

Auto shops

APN

59-06-36-405-001.001-012

APU

590636405001001012

Description

This exceptional commercial property in Paoli, Indiana, presents a unique investment opportunity. Encompassing two lots totaling 0.28 acres, the property includes a functional garage at 622 N Gospel Street and an adjacent lot at 612 N Gospel Street. The garage itself is a well-equipped workspace featuring a downdraft ventilated paint booth, ensuring a clean and efficient environment. Six overhead doors provide ample access for vehicles and equipment. The property also boasts a reliable generator, providing power backup during outages. The car lifts within the garage are available for negotiation as part of the sale. The adjacent lot at 612 N Gospel Street offers significant potential for expansion, such as additional parking, once cleared. With its versatile layout and desirable location in Paoli, this property is ideal for a variety of commercial uses, offering both immediate functionality and long-term growth potential. The asking price for this combined property is $399,000. This is a rare opportunity to acquire a substantial commercial property with significant upside in a thriving Indiana community. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,248,904

  6.5%

  $1,152,834

  7%

  $1,070,489

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,203,915

  Geo Method

  $1,203,915

• Alternative Use

  Use

  Valuation

  Residential

  $972,459

  Hospitality

  $890,767

  Educational

  $741,108

  Medical

  $766,596

  Retail

  $1,152,834

Location Insight

City

Paoli

County

Orange

State

Indiana

Latitude

38.5634

Longitude

-86.4662

Property Tax & Assessments

FAQs

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