101 3Rd StBoonville, IN 47601

Property Details for 101 3Rd St

Year built

1901

Construction

WOOD

Lot size

0.08 AC

Property size (Sq ft)

5,175 SF

Property type

Retail properties

Property subtype

Retail space

APN

87-09-26-404-111.000-003

APU

870926404111000003

Description

This exceptional property, located at 101 N 3rd Street in the heart of Boonville, Indiana, presents a unique investment opportunity. The two-story brick building boasts approximately 4,700 square feet of commercial space, currently configured as retail. Large, inviting front windows flood the interior with natural light. The ground floor features a functional garage door, adding versatility for various business uses. A mezzanine level provides additional retail space, expanding the overall usable area. The building's historical charm is complemented by recent updates throughout. Adding to its appeal is a completely renovated, approximately 2,025 square foot, three-bedroom, two-bathroom apartment. This residential unit offers a private entrance and stunning city views, complete with modern appliances. The apartment is a separate income-generating opportunity or could serve as owner-occupied space. The 0.08-acre lot provides ample space for the building and offers convenient access to the town square. The property is being offered in "AS IS" condition. A detailed list of recent building updates is available upon request. This mixed-use property is ideal for an investor seeking a blend of commercial and residential income streams in a desirable downtown location. The building's history, combined with its modern updates, creates a truly unique and attractive investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,314,168

  6.5%

  $1,213,078

  7%

  $1,126,430

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,122,569

  Geo Method

  $1,122,569

• Alternative Use

  Use

  Valuation

  Residential

  $1,023,277

  Hospitality

  $937,316

  Educational

  $779,836

  Medical

  $806,656

  Retail

  $1,213,078

Location Insight

City

Boonville

County

Warrick

State

Indiana

Latitude

38.0501

Longitude

-87.274

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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