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Office Units with Conference Rooms
For Sale
$449,000

23 S Main Street, Spencer, IN 47460

COMMERCIAL, Spencer, IN

Property SizeContact for details
Lot Size0.13 Acres
Days on Market582

Property Features for 23 S Main Street

General Information

Property type Commercial Sale
Property subtype Office
Rooms Basement
Lot features City
Directions Hwy 46 to Spencer.Turn south go over railroad tracks and building will be second on right across from courthouse.
Subdivision Owen County
Standard status Active
APN 60-10-20-400-400.606-028
Lot size 0.13 Acres

Taxes and HOA fees

Tax Year 4047
Tax Description Spencer PT Lot 179 Drug Store
Tax Annual Amount 3420
Legal Description Spencer PT Lot 179 Drug Store

Utilities

Cooling system Central Air

Amenities

conference rooms
exercise room
kitchenette area
storage

Building Details

Year built 1900
Flooring type Carpet, Wood, Tile - Ceramic
Roof type Rubber
Listing Agency: West & Co., REALTORS
Listed By: Rene West · License #IB20000735
Added: Feb 3, 2025 Changed: Aug 20 Last Checked: Sep 8 at 7:06AM
MLS# 202503382

Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This office property provides a multi-room configuration with 4 private offices, 2 conference rooms, 2 full bathrooms, and 1 half bathroom. Additional support areas include an exercise room, kitchenette, extensive storage, and a basement. Central air serves the building, with carpet, wood, and ceramic tile flooring throughout the property.

Constructed in 1900, the building retains period character through hardwood floors, exposed brick, and tin ceilings. The property is positioned at 23 S Main Street on the west side of the square in Spencer, Indiana, and includes approximately 0.127 acres. Appointments are required for access.

Key Highlights

  • 4 separate offices and 2 conference rooms
  • 2 full bathrooms plus 1 half bathroom
  • Exercise room, kitchenette, extensive storage, and basement

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick HVAC Service Electrical Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store Kitchen & Bath Showroom Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

400
Businesses Nearby

Demographics for 47460, IN

11,560
Population
5,045
Households
2.3
Avg Household Size
45
Median Age
22%
College-Educated
88%
High-School Grad
150.5 sq mi
ZIP Area
77
Density / Sq Mi
$67,688
Median Household Income
$42,113
Median Earnings
$888
Median Rent
$177,600
Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
Rey
Questions? Ask Rey
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Frequently Asked Questions

What type of property is this?
Office units - Character-rich office property with multiple work areas, support spaces, and distinctive period finishes.
Where is this office units located?
The property is located at 23 S Main Street Spencer, IN.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 4 separate offices and 2 conference rooms; 2 full bathrooms plus 1 half bathroom; Exercise room, kitchenette, extensive storage, and basement
More about this property
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