Current Use by Public Records
- Commercial real estate
Property Details for 1870 Hart Street Rd
- Year built
- 1975
- Lot size
- 0.49 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents an eight-unit property ideally situated on Hart Street in Vincennes, Indiana. The building boasts a prime location within a high-traffic area, ensuring excellent visibility and accessibility. The property comprises four commercial units on the ground floor and four residential units on the upper level. Currently, two of the commercial units are leased, generating a combined monthly income of $1300 ($450 and $850 respectively). These tenants are established with long-term leases. Two additional commercial units are available for immediate lease, presenting a significant opportunity to increase revenue. Upstairs, the four residential units offer attractive features. Two units rent for $650 per month, one for $600 per month, and one is currently vacant. Each residential unit includes laundry hookups and offers stunning views of Mirror Lake. The property includes ample parking both in the front and rear. Tenants are responsible for their own electricity, water, and internet/cable services. The owner covers trash removal, shared area electricity, lawn maintenance, building maintenance, and building insurance, minimizing operational burdens. The 0.49-acre lot provides substantial space and potential for future development or expansion. This property is an excellent investment for those seeking a diversified income stream with significant upside potential. The combination of established commercial tenants and desirable residential units makes this a truly unique opportunity in a thriving location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Vincennes
- County
- Knox
- State
- Indiana
- Longitude
- -87.5133
- Latitude
- 38.6675
