302 Main StFrancisco, IN 47649

Property Details for 302 Main St

Year built

1980

Construction

TYPE NOT SPECIFIED

Lot size

0.99 AC

Property size (Sq ft)

24,201 SF

Property type

Office properties

APN

26-13-20-101-000.031-005

APU

261320101000031005

Description

Exceptional opportunity awaits with this sealed-bid auction for the former Francisco Elementary School. This expansive property encompasses over 7.425 acres of land, strategically divided into three conveniently sized tracts for flexible development options. The substantial 24,000+ square foot building presents a unique canvas for adaptive reuse, offering significant potential for various commercial or residential ventures. Multiple paved parking areas, gated access, and a fully fenced lot enhance the property's security and functionality. Its prime location, just 2.5 miles west of Interstate 69, ensures excellent accessibility and visibility. The property's size and location make it ideal for a range of development projects, including residential subdivisions or commercial ventures. The auction format allows for competitive bidding and a transparent acquisition process. Detailed property inspections are scheduled for October 17th, 28th, and November 6th, providing ample opportunity for thorough due diligence. The property is located at 302 E Main St, Francisco, IN 47649, in Gibson County, and the sealed bids are due by November 7th, 2024, at 12 noon CT. This is a rare chance to acquire a significant property with substantial development potential in a desirable location. Don't miss this opportunity to transform this former school into a thriving enterprise.

• CAP approach

  CAP return

  Valuation

  6%

  $4,180,773

  6.5%

  $3,859,175

  7%

  $3,583,520

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,083,222

  Geo Method

  $2,083,222

• Alternative Use

  Use

  Valuation

  Residential

  $4,785,377

  Hospitality

  $4,383,380

  Educational

  $3,646,920

  Medical

  $3,772,344

  Retail

  $5,672,987

Location Insight

City

Francisco

County

Gibson

State

Indiana

Latitude

38.3324

Longitude

-87.4425

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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