Leased Two-Story Commercial
For Sale
$127,000
106 Franklin St, Milan, IN 47031
Two tenants occupy a fully leased brick two-story building with a new metal roof installed in 2024.
Property SizeContact for details
Days on Market275
Property Features for 106 Franklin St
General Information
Standard status
Active
Occupancy
100%
Additional Details
Multifamily Units
1
Building Details
Year Renovated
2024
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
RE/MAX Victory + Affiliates
(812) 926-2278
Listed By:
Mark Ginder · License #RB14035669
(513) 505-4775
Source:
Exprealty
Added: Dec 4, 2025
Changed: Aug 20
Last Checked: Sep 4 at 9:54AM
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 RE/MAX Victory + Affiliates
Investment Insights
Based on property information with market context.
This brick, two-story commercial building is fully leased with two tenants. The first floor tenant pays $850 per month plus utilities and insurance, and the second floor apartment pays $650 per month plus utilities and insurance. The seller installed a new metal roof in 2024.
The building was originally the Milan Theater and retains original slanted floors. The second floor previously included a space for the movie projector, which is now gone.
With income already in place, the property presents a straightforward setup for an owner seeking a fully occupied, two-tenant brick building with recently completed roofing improvements.
The building was originally the Milan Theater and retains original slanted floors. The second floor previously included a space for the movie projector, which is now gone.
With income already in place, the property presents a straightforward setup for an owner seeking a fully occupied, two-tenant brick building with recently completed roofing improvements.
Key Highlights
- Fully leased brick 2‑story commercial building with 2 tenants
- First‑floor tenant rent is $850/month plus utilities and insurance
- Second‑floor apartment rent is $650/month plus utilities and insurance
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 47031, IN
5,200
Population
2,036
Households
2.6
Avg Household Size
44
Median Age
17%
College-Educated
88%
High-School Grad
63.4 sq mi
ZIP Area
82
Density / Sq Mi
$67,520
Median Household Income
$33,125
Median Earnings
$939
Median Rent
$188,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two tenants occupy a fully leased brick two-story building with a new metal roof installed in 2024.
Where is this residential income property located?
The property is located at 106 Franklin St Milan, IN.
What is the asking price?
The asking price for this property is $127,000.
What are key features of this property?
This property features: Fully leased brick 2‑story commercial building with 2 tenants; First‑floor tenant rent is $850/month plus utilities and insurance; Second‑floor apartment rent is $650/month plus utilities and insurance
