Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    209 Main St Madison, IN 47250

    For Sale
    $899,000

    Historic Charm, Retail & Apartment

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional commercial property, located at 209 E Main Street in the heart of historic downtown Madison, Indiana, presents a rare opportunity for both business and residential use. The building boasts a prime location within Madison's vibrant and tourist-heavy business district, ensuring high visibility and foot traffic. Currently configured as retail space on the ground floor, it's perfectly suited for a variety of businesses seeking a prominent presence in this desirable area. The building's unique appeal extends beyond its commercial potential. A spacious apartment occupies the third floor, offering a live-work option for the owner or a separate rental income stream. This live-work arrangement provides significant convenience and potential cost savings. Adding to the property's functionality is a fully operational elevator, ensuring accessibility for all occupants and customers. The 0.17-acre lot provides ample space for the building and potential future development. The asking price for this unique blend of commercial and residential space is $899,000. This is an exceptional investment opportunity in a thriving Indiana town. The property's combination of prime location, retail space, residential apartment, and elevator makes it a truly unique offering. Don't miss this chance to own a piece of Madison's rich history and vibrant future.

    Property Features for 209 Main St

    General Information

    Property type
    Office Properties & Spaces
    Lot Size
    7,405 SF

    Building Details

    Year Built
    1900
    Location Intelligence

    Current Use by Public Records

    The Mad Flea Flea Market Kentuckiana Mortgage Group ... Mortgage Broker

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Jefferson_IN
    State
    Indiana
    Longitude
    -85.37832
    Latitude
    38.73662

    Nearby Similar for Sale

    • $447,500
      2,850 SF

      Secluded Wooded Acres with Custom Home

      11.59 acres with custom home, stocked pond, wooded trails.
      6164 Mckay Rd, Madison, IN 47250
      View Details
    • $1,599,000

      Historic Downtown Mixed-Use Investment Property

      Fully renovated, income-producing mixed-use property in Historic Downtown Madison.
      323 E Main St, Madison, IN 47250
      View Details
    • $2,000,000
      682 SF

      Scooter’s Coffee NNN Asset

      682 SF Scooter’s Coffee in Madison, IN For Sale.
      335 Clifty Dr, Madison, IN 47250
      View Details
    • $215,000
      0.48 Acres

      3 patient rooms

      Nurses Station
      3400 Sr 56, Madison, IN 47250
      View Details
    • $399,900
      4,700 SF

      Madison Retail Gem - Main Street

      Historic Downtown Madison Retail Space
      108 Main St, Madison, IN 47250
      View Details
    • $325,000

      Downtown Madison Retail Gem

      Three-story brick building, workshop included.
      301 Jefferson St, Madison, IN 47250
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Historic Charm, Retail & Apartment
    Where is this office property / space located?
    The property is located at 209 Main St Madison, IN.
    What is the asking price?
    The asking price for this property is $899,000.
    (812) 265-3122
    Request Owner's contact information
    209 Main St Madison, IN 47250
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    209 Main St
    Madison, IN 47250
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    209 Main St Madison, IN 47250
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.