Mixed-Use Building with Penthouse
For Sale
$249,900
101 W Main St, Syracuse, IN 46567
Street-level commercial space pairs with a three-bedroom, two-bath apartment.
Property Size3,408 SF
Price / SF$73.33
Days on Market87
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Property Features for 101 W Main St
General Information
Standard status
Active
Size
3,408 SF
Additional Details
Corner Location
Yes
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Heart City Realty LLC
Listed By:
Brad Beer · License #RB14044737
(574) 596-0376
Source:
Spencerchildersgroup
Added: Jul 21
Changed: Oct 3
Last Checked: Oct 7 at 1:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Heart City Realty LLC
Investment Insights
Based on property information with market context.
This 3,408-square-foot mixed-use building combines a main-floor commercial area with an upper-level penthouse apartment. The commercial portion is configured as an open space that can accommodate office, restaurant, or retail use. Above it, the residential component includes three bedrooms and two bathrooms, creating a two-unit property with separate commercial and residential functions.
Built in 1890, the property occupies a prominent corner at 101 W Main St in downtown Syracuse, Indiana. Its street-level position places the commercial space directly within the downtown setting, while the upper-floor apartment provides a private residential component. The layout supports an owner-user arrangement with an on-site apartment or separate residential occupancy, subject to applicable requirements.
Built in 1890, the property occupies a prominent corner at 101 W Main St in downtown Syracuse, Indiana. Its street-level position places the commercial space directly within the downtown setting, while the upper-floor apartment provides a private residential component. The layout supports an owner-user arrangement with an on-site apartment or separate residential occupancy, subject to applicable requirements.
Key Highlights
- 3,408‑square‑foot mixed‑use building
- Main‑floor open commercial space
- Upper‑level 3‑bedroom, 2‑bathroom penthouse apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,394
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,880
$427.9K
Cap Rate 7%
$305,629
$305.6K
Cap Rate 9%
$237,711
$237.7K
Market Conditions
NOI Build-Up for 3,408 SF
Gross rent
$36.8K $10.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$34.2K $10.04/SF
− OpEx
−$12.8K −$3.77/SF
NOI
$21.4K $6.28/SF
Area
Kosciusko County, IN
Vacancy
7.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,880
Cap Rate 7%
$305,629
Cap Rate 9%
$237,711
Alternative Uses
Best Use
Retail
$493.6K
$431.9K – $575.9K
NOI $34,555 @ 7.0% cap · market cap 13.83%
Second Best
Mixed Use
$305.6K
$267.4K – $356.6K
NOI $21,394 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$593.7K
$519.5K – $692.7K
NOI $41,561 @ 7.0% cap · market cap 16.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
2,976 visits/mo
0.3 miles
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space pairs with a three-bedroom, two-bath apartment.
Where is this mixed-use property located?
The property is located at 101 W Main St Syracuse, IN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 3,408‑square‑foot mixed‑use building; Main‑floor open commercial space; Upper‑level 3‑bedroom, 2‑bathroom penthouse apartment
