615 Manchester AveWabash, IN 46992

Property Details for 615 Manchester Ave

Year built

1969

Construction

WOOD

Lot size

0.11 AC

Property size (Sq ft)

960 SF

Property type

Office properties

Property subtype

Other office properties

APN

85-14-02-404-147.000-009

APU

851402404147000009

Description

This exceptional 960-square-foot commercial building is ideally situated on a 0.24-acre corner lot in Wabash, Indiana, at 615 Manchester Avenue. Previously occupied by Edward Jones for 15 years, this single-level property offers a versatile layout perfect for a variety of office uses. The building boasts an extra-large reception/waiting area, two private offices providing ample space for individual work or client meetings, a bathroom, a utility room, and a storage room housing the furnace. Recent renovations (completed two years ago) have significantly enhanced the property's appeal, encompassing interior and exterior painting, new vinyl flooring throughout, updated lighting, and landscaping improvements. The property also includes a convenient off-street parking lot with access from Manchester Avenue and an exit onto Michigan Street. Further upgrades include a newer metal roof, attic insulation, and a recently serviced furnace. The bathroom has also been recently updated. This turnkey opportunity presents a rare chance to acquire a well-maintained, updated commercial space in a desirable location. The building's size, amenities, and prime location make it an attractive investment for businesses seeking a comfortable and functional workspace. The property's excellent condition and recent improvements minimize the need for immediate capital expenditures, allowing for a smooth transition and immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $180,558

  6.5%

  $166,669

  7%

  $154,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $83,511

  Geo Method

  $99,332

• Alternative Use

  Use

  Valuation

  Residential

  $206,669

  Hospitality

  $189,308

  Educational

  $157,502

  Medical

  $162,919

  Retail

  $245,003

Location Insight

City

Wabash

County

Wabash

State

Indiana

Latitude

40.8122

Longitude

-85.8119

CBSA code

47340

CBSA name

WABASH, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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