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    117 Broadway St Butler, IN 46721

    For Sale
    $785,000

    18-Unit Multifamily Investment, High Cap Rate

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional investment opportunity presents an 18-unit apartment building located at 117 S Broadway St, Butler, IN 46721. The property, situated on a 0.3-acre lot, boasts a total of 14,238 square feet across three floors within a single building. Constructed in phases (1900 and 1975), the building underwent a complete renovation in 2022. Currently zoned GB, this Class C multifamily property offers significant potential. With 18 units, the asking price is $785,000, translating to approximately $43,611.11 per unit. The property's strong financial performance is highlighted by a projected net income of $140,000 when occupancy reaches 88%. This translates to an attractive 18% capitalization rate. The property's APN is 17-07-12-101-005.000-027. This renovated building presents a compelling opportunity for investors seeking strong returns in a stable market. The property's location in DeKalb County, Indiana provides easy access to local amenities and transportation. This is a turnkey investment ready for immediate income generation. Detailed financial information is available upon request.

    Property Features for 117 Broadway St

    General Information

    Property type
    Multifamily properties
    Class
    C
    Lot Size
    13,068 SF

    Building Details

    Year Renovated
    2022
    Buildings
    1
    Stories
    3
    Units
    18

    HighLights

    • $785,000 asking price for an 18‑unit apartment building.
    • Multifamily property, Class C, with an 18% cap rate.
    • 18 units, totaling 14,238 square feet.
    • Built in 1900 and 1975, renovated in 2022.
    • Single, three‑story building on a 0.3‑acre lot in Butler, IN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Dental Office Nail Salon Clothing Store Building Supply Pharmacy Accounting Firm Auto Repair Shop Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Butler
    County
    DeKalb
    State
    Indiana
    Longitude
    -84.8713506
    Latitude
    41.42935339

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    FAQs

    What type of property is this?
    Multifamily property - 18-Unit Multifamily Investment, High Cap Rate
    Where is this multifamily property located?
    The property is located at 117 Broadway St Butler, IN.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: $785,000 asking price for an 18-unit apartment building.; Multifamily property, Class C, with an 18% cap rate.; 18 units, totaling 14,238 square feet.
    Request Owner's contact information
    117 Broadway St Butler, IN 46721
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    Butler, IN 46721
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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
    117 Broadway St Butler, IN 46721
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