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Historic Office Space with Multiple Offices
For Sale
$449,000

23 S Main Street, Spencer, IN 47460

COMMERCIAL - Spencer, IN

Property SizeContact for details
Lot Size0.13 Acres
Days on Market562

Property Features for 23 S Main Street

General Information

Property type Commercial Sale
Property subtype Office
Rooms Basement
Lot features City
Directions Hwy 46 to Spencer.Turn south go over railroad tracks and building will be second on right across from courthouse.
Subdivision Owen County
Standard status Active
APN 60-10-20-400-400.606-028
Lot size 0.13 Acres

Taxes and HOA fees

Tax Year 4047
Tax Description Spencer PT Lot 179 Drug Store
Tax Annual Amount 3420
Legal Description Spencer PT Lot 179 Drug Store

Utilities

Cooling system Central Air

Amenities

exercise room
conference rooms
kitchenette area
storage
hardwood floors
exposed brick walls
tin ceilings

Building Details

Year built 1900
Flooring type Wood, Carpet, Tile - Ceramic
Roof type Rubber
Listing Agency: West & Co., REALTORS
Listed By: Rene West · License #RB14022952
Added: Feb 3, 2025 Changed: Aug 4 Last Checked: Aug 19 at 6:06PM
MLS# 202503382

Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This historic office space is configured with four separate offices, two conference rooms, and an exercise room. The layout also includes a kitchenette area, two full baths, and one half bath, plus multiple storage areas for day-to-day use. Interior features include hardwood floors, exposed brick walls, and tin ceilings, with flooring that includes ceramic tile, carpet, and wood. Central air cooling supports year-round comfort, and the property includes basement space.

Located at 23 S Main Street in Spencer, Indiana, the office space sits on a 0.127-acre lot. Built in 1900, the building features a rubber roof and presents a character-forward environment suited to office users that value distinct interior finishes. Appointment-only showings are available.

The space’s combination of private offices, conference rooms, and support rooms such as a kitchenette and exercise area can fit a variety of office operations that need both work zones and collaboration space.

Key Highlights

  • Four separate offices with two conference rooms plus an exercise room
  • Two full baths and one half bath
  • Kitchenette area and basement space with multiple storage areas

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick HVAC Service Electrical Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store Kitchen & Bath Showroom Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

400
Businesses Nearby

Demographics for 47460, IN

11,560
Population
5,045
Households
2.3
Avg Household Size
45
Median Age
22%
College-Educated
88%
High-School Grad
150.5 sq mi
ZIP Area
77
Density / Sq Mi
$67,688
Median Household Income
$42,113
Median Earnings
$888
Median Rent
$177,600
Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Office units - Office space with private offices, conference rooms, and dedicated exercise and kitchenette areas in Spencer, Indiana.
Where is this office units located?
The property is located at 23 S Main Street Spencer, IN.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Four separate offices with two conference rooms plus an exercise room; Two full baths and one half bath; Kitchenette area and basement space with multiple storage areas
More about this property
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