217 Main StPrinceton, IN 47670

Property Details for 217 Main St

Year built

1970

Lot size

0.36 AC

Property type

Parking lots & garages

APN

26-12-07-104-003.959-028

APU

261207104003959028

Description

This exceptional commercial property at 217 N Main Street, Princeton, Indiana, presents a fantastic investment opportunity. The property boasts a substantial 0.67-acre lot, providing abundant parking across three lots. A covered outdoor area offers additional seating, perfect for expanding operations or creating a welcoming atmosphere. A large fenced area is ideal for hosting live music events or other outdoor activities, adding significant potential for revenue generation. The main building comprises over 3,000 square feet, featuring a versatile layout. One side currently functions as a bar area, while the other is configured as an arcade, demonstrating adaptability to various business models. The space is easily convertible to suit a wide range of commercial uses. Upstairs, an office or apartment provides additional space, potentially for management or residential use. The property's location just outside the revitalized downtown area of Princeton offers excellent visibility and accessibility. This turnkey opportunity includes an existing business, providing immediate income potential and a solid foundation for future growth. The combination of a prime location, ample space, and versatile layout makes this property an attractive investment for discerning buyers. The property's size and features offer significant potential for expansion and adaptation to meet evolving market demands. This is a rare chance to acquire a well-established business with significant growth potential in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $3,972,978

  6.5%

  $3,667,364

  7%

  $3,405,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,393,738

  Geo Method

  $3,393,738

• Alternative Use

  Use

  Valuation

  Residential

  $3,093,559

  Hospitality

  $2,833,684

  Educational

  $2,357,591

  Medical

  $2,438,672

  Retail

  $3,667,364

Location Insight

City

Princeton

County

Gibson

State

Indiana

Latitude

38.357

Longitude

-87.5678

CBSA code

21780

CBSA name

EVANSVILLE, IN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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