140 Pleasant AveMarengo, IN 47140

Property Details for 140 Pleasant Ave

Year built

1949

Construction

WOOD

Lot size

0.85 AC

Property size (Sq ft)

9,837 SF

Property type

Office properties

Property subtype

Other office properties

APN

13-08-06-300-399.000-007

APU

130806300399000007

Description

This exceptional 0.38-acre commercial property located at 140 E Pleasant Avenue in Marengo, Indiana, presents a unique investment opportunity. Previously serving as the Marengo Wesleyan Church, this substantial building offers a wealth of possibilities for a variety of commercial enterprises. The expansive layout includes a large sanctuary, perfect for large gatherings or adaptable to various commercial needs. Multiple classrooms and meeting rooms provide ample space for diverse functions, whether educational, administrative, or communal. The property also boasts multiple kitchen areas and restrooms, ensuring convenience and functionality. A significant feature is the large furnished basement, offering extensive storage capacity and an additional restroom. The building's historical significance within the Marengo community adds to its appeal and potential for attracting a wide range of businesses. The asking price is $85,000. This property's versatile design and substantial size make it an ideal location for a church group, daycare center, or other commercial ventures seeking a well-established and spacious building in a historic Indiana town. The ample parking and prominent location further enhance its attractiveness. Serious inquiries are encouraged to explore the full potential of this remarkable property.

• CAP approach

  CAP return

  Valuation

  6%

  $1,603,074

  6.5%

  $1,479,761

  7%

  $1,374,064

• Comparable approach

  Method

  Valuation

  Relative Method

  $846,769

  Geo Method

  $846,769

• Alternative Use

  Use

  Valuation

  Residential

  $1,834,903

  Hospitality

  $1,680,762

  Educational

  $1,398,374

  Medical

  $1,446,466

  Retail

  $2,175,248

Location Insight

City

Marengo

County

Crawford

State

Indiana

Latitude

38.3699

Longitude

-86.3424

Property Tax & Assessments

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