8 3Rd StLafayette, IN 47901

Property Details for 8 3Rd St

Year built

1865

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

29,475 SF

Property type

Office properties

Property subtype

Other office properties

APN

79-07-20-465-002.000-004

APU

790720465002000004

Description

This exceptional Class A creative office building, located at 8 N 3rd St, Lafayette, IN 47901, presents a unique investment opportunity. Boasting 36,688 square feet across four stories, this property sits on a 0.14-acre lot (APN: 79-07-20-465-002.000-004) at a prime downtown corner location, offering excellent visibility and accessibility. Built in 1865 and listed on the National Register of Historic Places, the building underwent a major interior renovation in 2010. The property features two elevators (one passenger, one freight) and benefits from a permitted CB zoning designation. Its strategic location, within walking distance of the County and Federal courthouses, attracts a desirable tenant base, including attorneys and technology companies. The building's corner location maximizes natural light and provides enhanced tenant comfort. Currently housing top-quality, long-term tenants, this investment offers significant rent growth potential. The asking price is $2,975,000, translating to $81.09 per square foot. This multi-tenant building represents a rare blend of historic charm and modern functionality in a high-demand location.

• CAP approach

  CAP return

  Valuation

  6%

  $9,472,425

  6.5%

  $8,743,777

  7%

  $8,119,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,839,119

  Geo Method

  $3,839,119

• Alternative Use

  Use

  Valuation

  Residential

  $10,842,283

  Hospitality

  $9,931,473

  Educational

  $8,262,869

  Medical

  $8,547,042

  Retail

  $12,853,352

Location Insight

City

Lafayette

County

Tippecanoe

State

Indiana

Latitude

40.4175

Longitude

-86.8946

CBSA code

29200

CBSA name

LAFAYETTE-WEST LAFAYETTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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