1525 14Th St Anderson, IN 46016
- Specialty properties
- 37,000 SF
- 1.70 lot acres
Current Use by Public Records
- Specialty properties
Property Details for 1525 14Th St
- Year built
- 1923
- Lot size
- 1.70 lot acres
- Property size
- 37,000 SF
- Property type
- Specialty properties
- Property subtype
- Retirement homes
Description
This exceptional 2-story, 37,000 square foot mixed-use building, situated on a 1.7-acre lot in Anderson, Indiana (46016), presents a compelling investment opportunity. Built in 1923, the brick and limestone structure features 25 permitted apartment units and a full-size gymnasium. Currently zoned R3, the property boasts ample parking and a prime location near downtown Anderson, offering easy access to shopping, restaurants, and offices. Major employers such as Community Hospital Anderson, St. Vincent Health, Nestle USA, Borg Warner, and Harrah's Hoosier Park are nearby, making this ideal for workforce or senior housing. The property's strong financial performance is highlighted by a $50,000 net operating income (NOI) and a 10% capitalization rate, with an asking price of $500,000. The land value is $13.51 per square foot. While currently configured with 18 classrooms, conversion to apartments or senior housing is considered the best use, although other uses like self-storage or warehousing would require zoning changes. The property benefits from its location within two government incentivized zones: New Market Tax Credit and Qualified Opportunity Zone. This presents a rare chance to acquire a well-located, income-producing asset with significant upside potential. A 360° virtual tour is available.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Anderson
- County
- Madison
- State
- Indiana
- Longitude
- -85.6986
- Latitude
- 40.1019
