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    370-330 Morgan St Spencer, IN 47460

    For Sale
    $679,000

    High-traffic corner lot, two buildings, ample parking.

    Property size:
    3,348 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    312
    This exceptional mixed-use property presents a remarkable investment opportunity in the heart of Spencer, Indiana. Situated on a prominent corner lot (0.59 acres) along a main thoroughfare, this property boasts two substantial buildings and generous off-street parking, ensuring convenient access and high visibility. The main building, measuring 54 feet by 62 feet, features two large overhead doors opening into a spacious garage area, ideal for various uses. The interior also includes a retail space complete with a sales desk, two restrooms, and two offices. A significant 24-foot by 54-foot upstairs area offers versatile potential for expansion or additional workspace. A second building, a 32-foot by 62-foot by 14-foot pole barn, provides further storage or operational space, equipped with a 12-foot by 12-foot overhead door, a walk-in door, and concrete flooring. The property's current configuration includes an auto sales business, auto detailing service, and propane sales, demonstrating its adaptability to a wide range of commercial ventures. With its prime location, substantial square footage (3,348 square feet total), and flexible layout, this property offers significant potential for growth and diverse income streams. The asking price is $679,000.

    Property Features for 370-330 Morgan St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,348 SF
    Lot Size
    25,700 SF

    Building Details

    Year Built
    1940
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    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
    Spencer
    County
    Owen
    State
    Indiana
    Longitude
    -86.75816
    Latitude
    39.2868

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    FAQs

    What type of property is this?
    Mixed-use property - High-traffic corner lot, two buildings, ample parking.
    Where is this mixed-use property located?
    The property is located at 370-330 Morgan St Spencer, IN.
    What is the asking price?
    The asking price for this property is $679,000.
    (812) 714-8250
    Request Owner's contact information
    370-330 Morgan St Spencer, IN 47460
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    Spencer, IN 47460
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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
    370-330 Morgan St Spencer, IN 47460
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