501 Earl AveLafayette, IN 47904

Property Details for 501 Earl Ave

Year built

1988

Construction

WOOD

Lot size

0.73 AC

Property size (Sq ft)

7,200 SF

Property type

Auto shops

APN

79-07-22-330-004.000-004

APU

790722330004000004

Description

This exceptional investment opportunity presents a 7,200-square-foot vacant auto facility situated on a 0.73-acre lot at 501 North Earl Avenue in Lafayette, Indiana. Built in 1988, this former MAACO location boasts five service bays and a fenced-in lot, ideal for a variety of automotive uses, including body shops or repair centers. The property is offered at $880,000, representing a price per square foot of $122.22. Its prime location on North Earl Avenue, experiencing approximately 7,500 vehicles per day, and its adjacency to a McDonald's with over 28,000 vehicles per day, ensures high visibility and accessibility. The property benefits from a strong demographic profile, with a 5-minute drive time encompassing a population of 19,292 residents and an average household income of $74,040. Expanding the radius to 10 minutes includes 75,538 residents with an average household income of $71,415, and a 15-minute radius encompasses 149,192 residents with an average household income of $85,532. This single-tenant, net lease property presents a secure investment opportunity with significant potential for future growth and profitability in a thriving market. The property is 100% vacant and ready for immediate occupancy. The zip code is 47904.

• CAP approach

  CAP return

  Valuation

  6%

  $2,688,920

  6.5%

  $2,482,080

  7%

  $2,304,790

• Comparable approach

  Method

  Valuation

  Relative Method

  $975,312

  Geo Method

  $975,312

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,886,340

  Mixed-Use / Specialty

  $2,454,630

  Hospitality / Lodging

  $1,776,660

  Office

  $2,420,670

  Institutional / Educational

  $2,545,180

  Residential Income

  $2,977,860

  Multifamily

  $3,674,610

  Automotive / Energy

  $2,181,580

  Parking / Income-Based Land

  $771,216

  Restaurant / Food Service

  $1,236,970

  Healthcare / Senior Housing

  $2,536,250

Location Insight

City

Lafayette

County

Tippecanoe

State

Indiana

Latitude

40.4219

Longitude

-86.86

CBSA code

29200

CBSA name

LAFAYETTE-WEST LAFAYETTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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