Building Details

Year Built 1950

Listing Agency: Minear Real Estate

Listed By: Brad Minear · License #RB14035806 Show Phone

Source: Theferrellgroupkw

Added: Mar 31 Changed: Oct 26 Last Checked: Oct 7 at 12:56PM

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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 Minear Real Estate

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Investment Insights

Based on property information with market context.

This retail/mixed-use building is located on Main Street in Larwill, Indiana. The main level of the building is wheelchair accessible from the front. The right side of the building features two display windows and a separate entrance from the left side. It includes a newer furnace and one restroom. The right side of the building also has a second level with its own private entrance.

Key Highlights

• Main level is wheelchair/handicap accessible.
• Mixed‑use building on Main Street.
• Separate entrance for right side of building.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,093

Suggested Prices Based on Cap Rates

Cap Rate 5%

$941,860 $941.9K

Cap Rate 7%

$672,757 $672.8K

Cap Rate 9%

$523,256 $523.3K

What to ask about pricing

Market Conditions

NOI Build-Up for 4,600 SF

Gross rent

$82.8K $18.00/SF

− Vacancy

−$7.5K −$1.62/SF

EGI

$75.3K $16.38/SF

− OpEx

−$28.3K −$6.14/SF

NOI

$47.1K $10.24/SF

Area

Whitley County, IN

Vacancy

9.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$941,860

Cap Rate 7%

$672,757

Cap Rate 9%

$523,256

Alternative Uses

Best Use

Mixed Use

$672.8K

$588.7K – $784.9K (±1% cap)

NOI $47,093 @ 7.0% cap · market cap 236.65%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$3.84M

$3.36M – $4.48M (±1% cap)

NOI $268,992 @ 7.0% cap · market cap 1,351.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Auto Repair Shop Furniture & Home Goods Computer & Electronic Repair Grocery & Convenience Store Restaurant

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

33

Businesses Nearby

Explore this area Business Placement

Demographics for 46764, IN

1,379

Population

607

Households

2.3

Avg Household Size

41

Median Age

20%

College-Educated

96%

High-School Grad

32.2 sq mi

ZIP Area

43

Density / Sq Mi

$66,818

Median Household Income

$46,875

Median Earnings

$1,023

Median Rent

$226,500

Median Home Value

Frequently Asked Questions

What type of property is this?

Mixed-use property - Retail/Mixed Use building on Main Street in Larwill, Indiana.

Where is this mixed-use property located?

The property is located at 103 W Main St Larwill, IN.

What are key features of this property?

This property features: Main level is wheelchair/handicap accessible.; Mixed‑use building on Main Street.; Separate entrance for right side of building.