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    122 5Th St Richmond, IN 47374

    Sponsored
    For Lease
    $9 SF/Yr ($1,752 /Mo)

    Prime West Side location; flexible office/retail space.

    Lot size:
    2,112 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 122-126 NW 5th St in Richmond, Indiana, offers a unique opportunity for businesses seeking high-visibility space. Situated on a 0.25-acre lot in Wayne County, this single-story, 2,112 square foot building was constructed in 1963 and boasts a flexible layout suitable for various uses, including traditional office, executive office, medical office, or creative office space. Currently, the entire 2,112 square feet is available for lease, offering a significant opportunity for a single tenant. Alternatively, the space can be divided, with a minimum leasable area of 1,056 square feet. The property's high visibility on the bustling West side makes it ideal for businesses seeking maximum exposure. The building consists of two suites and is adaptable to the needs of a new tenant, with the owner open to build-outs for long-term leases. This presents a rare chance to secure a well-located, versatile commercial space in a thriving area. The property's history as a former barber shop adds to its unique character and potential for creative adaptation.

    Property Features for 122 5Th St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,112 SF
    Total Rate
    1752.96

    Building Details

    Year Built
    1963
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    1,056 SF
    Rate per SF
    $9
    Space
    Available Space 2
    Size
    1,056 SF
    Rate per SF
    $9

    HighLights

    • High‑visibility retail/office building in Richmond, IN.
    • 2,112 square feet total building area, fully vacant.
    • Divisible into units as small as 1,056 square feet, with a maximum contiguous space of 2,112 square feet.
    • Located on a 0.25‑acre lot in Wayne County.
    • Single‑story building constructed in 1963.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Wayne
    State
    Indiana
    Longitude
    -84.908045021848
    Latitude
    39.830992217086

    Nearby Comparable

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    Nearby Similar for Lease

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      New retail or restaurant spaces for lease near Earlham College.
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      Richmond Industrial Property for Rent

      Industrial property in Richmond, Indiana, offering logistical advantages.
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      Retail space available in Eastside Plaza Shopping Center.
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      Retail Space on National Road

      Retail space for lease near downtown Richmond and Earlham College.
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    FAQs

    What type of property is this?
    Office space - Prime West Side location; flexible office/retail space.
    Where is this office space located?
    The property is located at 122 5Th St Richmond, IN.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: High-visibility retail/office building in Richmond, IN.; 2,112 square feet total building area, fully vacant.; Divisible into units as small as 1,056 square feet, with a maximum contiguous space of 2,112 square feet.
    Request Owner's contact information
    122 5Th St Richmond, IN 47374
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    Richmond, IN 47374
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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
    122 5Th St Richmond, IN 47374
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