117 Broadway St Butler, IN 46721
- Commercial real estate
- 0.30 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 117 Broadway St
- Lot size
- 0.30 lot acres
- Property type
- Commercial real estate
- APN
- 17-07-12-101-005.000-027
Description
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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Butler
- County
- DeKalb
- State
- Indiana
- Longitude
- -84.8713506
- Latitude
- 41.42935339
