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    214 Main St Portland, IN 47371

    For Sale
    $75,400

    Historic 5500+ sq ft Duplex, Huge Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This unique 5500+ square foot, two-story commercial duplex presents a rare investment opportunity in Portland, Indiana's downtown square. Situated on a 0.23-acre lot at 214 W Main Street, this 1880s building offers exceptional potential for redevelopment. The ground floor boasts a wide-open retail space, stripped to its original brick walls, ready for a modern vision. Multiple points of entry – front, back, and side – provide versatile access for various businesses. Upstairs, the original layout featured two large, front-to-back apartments, subdivided into numerous individual spaces. Much of the original woodwork, doors, and hardwood floors remain, awaiting restoration. Access to the upper level is available via an existing interior staircase at the front and a previously existing rear staircase (currently removed). An exterior entrance for the upstairs is also restorable. The upper level also features two additional exterior openings (currently inaccessible). The property includes two additional outbuildings and a gravel parking lot. Street parking is also available. This property offers a remarkable chance to own a piece of Portland's history and create a thriving commercial enterprise. The adjacent parking lot is blacktop, while the subject property's parking is gravel.

    Property Features for 214 Main St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    10,019 SF

    Building Details

    Year Built
    1880
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Jay
    State
    Indiana
    Longitude
    -84.97993
    Latitude
    40.43353

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    FAQs

    What type of property is this?
    Commercial real estate - Historic 5500+ sq ft Duplex, Huge Potential
    Where is this commercial real estate located?
    The property is located at 214 Main St Portland, IN.
    What is the asking price?
    The asking price for this property is $75,400.
    (765) 209-2239
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    214 Main St Portland, IN 47371
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    Portland, IN 47371
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    214 Main St Portland, IN 47371
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