1010 Main StLafayette, IN 47901

Property Details for 1010 Main St

Year built

1900

Construction

WOOD

Lot size

0.09 AC

Property size (Sq ft)

7,386 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

79-07-21-359-004.000-004

APU

790721359004000004

Description

This exceptional 7,386 square foot commercial property, located at 1010 Main Street in Tippecanoe County, presents a unique investment opportunity. The property is classified as retail and land, featuring a single tenant occupancy within a historical building. The main retail space encompasses 2,300 square feet, offering ample room for a variety of businesses. The building boasts attractive features including exposed brick walls, adding character and charm to the space. A significant advantage is the inclusion of rear parking spaces accessible via a back door, providing convenient customer and employee parking. The building's prime location on a busy section of Main Street places it amongst popular establishments such as a wine bistro, restaurants, and other retail businesses, ensuring high foot traffic and visibility. Summer months see increased activity due to the "Mosey Down Main St" events, further boosting potential customer engagement. Inside, the space has been thoughtfully renovated to include high ceilings exceeding 12 feet, a fully equipped kitchenette, and a complete bathroom, enhancing functionality and appeal. This property offers a blend of historical charm and modern convenience, making it an ideal location for a discerning business owner seeking a thriving retail environment. The property's total building size is 7,386 square feet, distributed across a single suite.

• CAP approach

  CAP return

  Valuation

  6%

  $2,943,326

  6.5%

  $2,716,916

  7%

  $2,522,851

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,491,141

  Geo Method

  $1,491,141

• Alternative Use

  Use

  Valuation

  Residential

  $2,716,916

  Hospitality

  $2,488,680

  Educational

  $2,070,553

  Medical

  $2,141,762

  Retail

  $3,220,860

Location Insight

City

Lafayette

County

Tippecanoe

State

Indiana

Latitude

40.4194

Longitude

-86.8854

CBSA code

29200

CBSA name

LAFAYETTE-WEST LAFAYETTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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