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    1000 Morton St Oakland City, IN 47660

    For Sale
    $2,500,000

    High-yield medical office & apartments

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional mixed-use property in Oakland City, Indiana, presents a lucrative investment opportunity. The 30,581 square foot complex sits on a 5.53-acre lot adjacent to a golf course, offering a desirable location and attractive surroundings. The property boasts 17 newly remodeled apartments (13 one-bedroom and 4 two-bedroom units), providing immediate rental income. Further enhancing the income stream are 43 new climate-controlled storage units. A lease is currently in place with an urgent care facility, ensuring stable occupancy and consistent revenue. Adding to the property's versatility is a separate 1,700+ square foot, three-bedroom house. The property also includes over 13,000 square feet of additional leasable space. Conveniently located just 1.5 miles from the Interstate 69/Indiana 64 interchange and a 25-minute drive from Evansville, this property offers excellent accessibility and strong potential for future growth. The property is classified as Class C and is listed at $2,500,000. This is a rare opportunity to acquire a well-positioned, income-producing asset with significant upside potential.

    Property Features for 1000 Morton St

    General Information

    Property type
    Medical offices
    Class
    C
    Lot Size
    240,887 SF

    HighLights

    • Exceptional mixed‑use property in Oakland City, Indiana, offering a lucrative investment opportunity.
    • 30,581 square foot complex on a 5.53‑acre lot adjacent to a golf course.
    • 17 newly remodeled apartments (13 one‑bedroom, 4 two‑bedroom) generate immediate rental income.
    • 43 new climate‑controlled storage units provide additional income.
    • Leased to an urgent care facility, ensuring stable occupancy and revenue.
    • Includes a separate 1,700+ sq ft, three‑bedroom house.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Access Medical Clinic: ... Urgent Care Center

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland City
    County
    Gibson
    State
    Indiana
    Longitude
    -87.3589025
    Latitude
    38.3329868

    Nearby Comparable

    • $2,500,000

      Remodeled Income Producing Mixed-Use Property

      Newly remodeled mixed-use property with apartments, storage units, and urgent care.
      1000 W Morton St, Oakland City, IN 47660
      View Details
    • Contact for pricing

      Land Available in Oakland City

      Land for sale at 9335 IN-64, Oakland City, IN.
      9335 In-64, Oakland City, IN
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    • $399,000

      Land Available in Oakland City

      Land for sale at 9391 IN-64, Oakland City, Indiana.
      9391 In-64, Oakland City, IN
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    • $399,000
      0.80 Acres

      Oakland City Commercial Land

      0.8-acre lot, prime commercial location.
      9391 In-64, Oakland City, IN 47660
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    • Contact for pricing
      42.87 Acres

      Prime I-69 Agricultural Land

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    • New
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      37 Acres Hunting Land Winslow

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    Nearby Similar for Sale

    • $2,500,000

      Remodeled Income Producing Mixed-Use Property

      Newly remodeled mixed-use property with apartments, storage units, and urgent care.
      1000 W Morton St, Oakland City, IN 47660
      View Details

    FAQs

    What type of property is this?
    Medical office - High-yield medical office & apartments
    Where is this medical office located?
    The property is located at 1000 Morton St Oakland City, IN.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Exceptional mixed-use property in Oakland City, Indiana, offering a lucrative investment opportunity.; 30,581 square foot complex on a 5.53-acre lot adjacent to a golf course.; 17 newly remodeled apartments (13 one-bedroom, 4 two-bedroom) generate immediate rental income.
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    1000 Morton St Oakland City, IN 47660
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    Oakland City, IN 47660
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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
    1000 Morton St Oakland City, IN 47660
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