202 5Th St Fowler, IN 47944
- Mixed-use properties
- 15,560 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 202 5Th St
- Year built
- 1900
- Property size
- 15,560 SF
- Property type
- Mixed-use properties
Description
This exceptional mixed-use investment opportunity in Fowler, Indiana, presents a compelling proposition for discerning investors. Located at 202 E Fifth St, this property boasts a substantial 15,560 square feet across a two-story building, constructed in 1900. The property features sixteen units, currently operating at 81% occupancy, with fourteen tenants under a gross lease agreement. The building is zoned for commercial use and includes sixteen parking spaces. Recent capital improvements, completed within the last 90 days, include a new roof, new exterior doors, and a new upper deck, enhancing the property's value and appeal. The property's strong financial performance is highlighted by a current net operating income (NOI) of $62,082, translating to an attractive 8.50% capitalization rate. This presents a significant opportunity to increase profitability through achieving 100% occupancy. The asking price for this individual ownership property is $775,000. This well-maintained building offers a blend of residential and retail space, making it an ideal investment for those seeking a diversified portfolio with substantial income potential. The property's location in Fowler, IN, provides access to a thriving local market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fowler
- County
- Benton
- State
- Indiana
- Longitude
- -87.322
- Latitude
- 40.6174
