Mixed-Use Corner Building with
101 West Main Street Syracuse, IN 46567
101 West Main Street, Syracuse, IN, 46567
$229,900
For Sale
$229,900
Street-level commercial space pairs with a 3-bedroom, 2-bath penthouse apartment above for a flexible two-unit setup.
Property Size2,614 SF
Price / SF$87.95
Days on Market91
Property Features for 101 West Main Street
General Information
- Standard status
- Active
- Size
- 2,614 SF
- Property subtype
- Commercial / Mixed Use
Building Details
- Year Built
- 1890
Listing agency
Heart City Realty LLC
(574) 596-0376
Listed by
Brad Beer · License #RB14044737
(574) 596-0376
Source
Compass
Added: Apr 22 Updated: Jul 10 at 4:00PM Checked: Jul 21 at 6:42AM
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 mixed-use building offers a street-level commercial space with a wide-open layout, suitable for a range of retail or office concepts. Upstairs is a spacious penthouse apartment with three bedrooms and two bathrooms, providing a distinct, self-contained living unit above the main entrance.
The property is located on a busy corner in downtown Syracuse, offering street-level presence where pedestrians and passersby are able to view the building as they approach.
For an owner-operator, the configuration supports running a business from the ground floor while maintaining the privacy of the penthouse overhead. For investors, the building’s two-unit structure allows the commercial space and the residential penthouse to be operated as separate income-producing components, depending on the intended use for each floor.
The property is located on a busy corner in downtown Syracuse, offering street-level presence where pedestrians and passersby are able to view the building as they approach.
For an owner-operator, the configuration supports running a business from the ground floor while maintaining the privacy of the penthouse overhead. For investors, the building’s two-unit structure allows the commercial space and the residential penthouse to be operated as separate income-producing components, depending on the intended use for each floor.
Key Highlights
- Mixed‑use, two‑unit setup with street‑level commercial space and a 3‑bedroom, 2‑bath penthouse apartment above
- Street‑level commercial area is described as wide‑open and ready to convert to an office, restaurant, retail shop, or other business use
- Full basement plus 2 stories total, providing added interior space
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.6k | $14.40 |
| − Vacancy | −$1.6k | −$0.60 |
| EGI | $36.1k | $13.80 |
| − OpEx | −$16.2k | −$6.21 |
| NOI | $19.8k | $7.59 |
2,614 SF · lease $14.40/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Retail
$378.6K
$331.3K – $441.8K
NOI $26,505 @ 7.0% cap · market cap 11.53%
Second Best
Apartment 5plus
$283.3K
$247.9K – $330.6K
NOI $19,833 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$455.4K
$398.5K – $531.3K
NOI $31,878 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Benson Communications
Marketing & Advertising
Nature's Terrace
Specialty Food Shop
A Touch of Beauty
Hair Salon
Honeydew Tattoo
Tattoo & Piercing Shop
Fidelity National Title
Title Company
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Street-level commercial space pairs with a 3-bedroom, 2-bath penthouse apartment above for a flexible two-unit setup.
Where is this mixed-use property located?
The property is located at 101 West Main Street Syracuse, IN.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Mixed‑use, two‑unit setup with street‑level commercial space and a 3‑bedroom, 2‑bath penthouse apartment above; Street‑level commercial area is described as wide‑open and ready to convert to an office, restaurant, retail shop, or other business use; Full basement plus 2 stories total, providing added interior space
