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    48 Public Sq Salem, IN 47167

    For Sale
    $352,000

    Prime Downtown Retail Space, Huge Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional three-story commercial building, located at 48 Public Square in Salem, Indiana, presents a unique investment opportunity. Situated on the historic public square, this property boasts unparalleled visibility and accessibility, with separate entrances onto Highway 60/Main Street. The building offers approximately 3,360 square feet per floor, totaling roughly 10,080 square feet of usable space. Each floor includes a bathroom, adding to its versatility. A portion of the second floor has been thoughtfully converted into a charming apartment, offering stunning views of the Washington County Courthouse. This building has a rich history as a highly regarded retail establishment, having hosted numerous successful businesses over the years. Its prime location has consistently attracted a large customer base. The property sits on a 0.08-acre lot and is priced below its appraised value at $352,000. The expansive space and multiple floors offer endless possibilities for a variety of commercial uses, from retail and office space to mixed-use development. This is a rare chance to acquire a piece of Salem's history and capitalize on its vibrant downtown location. The building's prominent position ensures high foot traffic and excellent brand visibility. Don't miss this chance to own a landmark property in the heart of Salem, Indiana.

    Property Features for 48 Public Sq

    General Information

    Property type
    Investment properties
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1935
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Investment properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Washington
    State
    Indiana
    Longitude
    -86.10097
    Latitude
    38.60507

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    FAQs

    What type of property is this?
    Investment property - Prime Downtown Retail Space, Huge Potential
    Where is this investment property located?
    The property is located at 48 Public Sq Salem, IN.
    What is the asking price?
    The asking price for this property is $352,000.
    (812) 883-8200
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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
    48 Public Sq Salem, IN 47167
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