Downtown Storefront with Adjoining
For Sale
$180,000
343 Washington Street, Hope, IN 47246
B2-zoned commercial space includes parking and an adjoining lot on Hope’s town square.
Property Size1,525 SF
Price / SF$118.03
Days on Market71
Property Features for 343 Washington Street
General Information
Standard status
Active
Size
1,525 SF
Property subtype
Commercial
Zoning
B2
Building Details
Building Size
1,525 SF
Listing Agency:
Exodus Realty
(812) 663-7355
Listed By:
Jody Westerfeld
Source:
Battsrealestategroup
Added: Aug 14
Changed: Oct 23
Last Checked: Oct 22 at 2:21PM
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 Exodus Realty
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Investment Insights
Based on property information with market context.
This 1,525-square-foot storefront at 343 Washington Street is currently home to Frame55 and Knot & Vine plant shop. The property includes an adjoining lot, providing additional outdoor area, as well as parking. Its B2 zoning supports a range of commercial uses, subject to applicable requirements.
Improvements include fresh paint, new flooring, mini-split HVAC, a water heater, a toilet, PEX plumbing, electrical work, and a chimney cap. The property is situated on the historic town square in downtown Hope, Indiana.
Improvements include fresh paint, new flooring, mini-split HVAC, a water heater, a toilet, PEX plumbing, electrical work, and a chimney cap. The property is situated on the historic town square in downtown Hope, Indiana.
Key Highlights
- 1,525‑square‑foot storefront with an adjoining lot
- B2 zoning
- Located on Hope’s historic town square
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,745
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$194,900
$194.9K
Cap Rate 7%
$139,214
$139.2K
Cap Rate 9%
$108,278
$108.3K
Market Conditions
NOI Build-Up for 1,525 SF
Gross rent
$15.6K $10.20/SF
− Vacancy
−$1.6K −$1.07/SF
EGI
$13.9K $9.13/SF
− OpEx
−$4.2K −$2.74/SF
NOI
$9.7K $6.39/SF
Area
Bartholomew County, IN
Vacancy
10.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$194,900
Cap Rate 7%
$139,214
Cap Rate 9%
$108,278
Alternative Uses
Best Use
Retail
$139.2K
$121.8K – $162.4K
NOI $9,745 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$294.8K
$258.0K – $344.0K
NOI $20,637 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 47246, IN
4,343
Population
1,462
Households
3
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
58.1 sq mi
ZIP Area
75
Density / Sq Mi
$88,106
Median Household Income
$36,739
Median Earnings
$1,088
Median Rent
$165,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - B2-zoned commercial space includes parking and an adjoining lot on Hope’s town square.
Where is this storefront property located?
The property is located at 343 Washington Street Hope, IN.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1,525‑square‑foot storefront with an adjoining lot; B2 zoning; Located on Hope’s historic town square
