215 Pearl StCovington, IN 47932

Property Details for 215 Pearl St

Year built

1930

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

1,014 SF

Property type

Office properties

APN

23-06-26-426-181.001-016

APU

230626426181001016

Description

This versatile 1,014 square foot mixed-use building in Covington, Indiana, presents a fantastic investment opportunity. Located at 215 Pearl St, this property boasts a prime commercial location, situated on two city lots and conveniently positioned next to McDonald's and near Casey's gas station. The building, renovated in 2020, offers a flexible layout ideal for a variety of businesses. The interior features a spacious display/office desk area, perfect for showcasing products or providing ample workspace. A smaller conference room/office/breakroom provides a dedicated space for meetings or private work. Additional functional space includes a utility/storage area and a restroom. The building's 1,014 square feet of net rentable space offers ample room for operations, while its convenient location ensures high visibility and accessibility for customers and employees. This property is a blend of retail and office space, making it suitable for a wide range of commercial uses. The asking price is $249,000. This is a rare opportunity to acquire a well-maintained, strategically located commercial property in a thriving Indiana community. The property's proximity to established businesses further enhances its appeal and potential for success.

• CAP approach

  CAP return

  Valuation

  6%

  $325,871

  6.5%

  $300,804

  7%

  $279,318

• Comparable approach

  Method

  Valuation

  Relative Method

  $132,074

  Geo Method

  $132,074

• Alternative Use

  Use

  Valuation

  Residential

  $372,997

  Hospitality

  $341,663

  Educational

  $284,260

  Medical

  $294,036

  Retail

  $442,181

Location Insight

City

Covington

County

Fountain

State

Indiana

Latitude

40.1422

Longitude

-87.3998

Property Tax & Assessments

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