609 L StRichmond, IN 47374

Property Details for 609 L St

Year built

1997

Construction

WOOD

Lot size

3.88 AC

Property size (Sq ft)

1,152 SF

Property type

Retail properties

Property subtype

Retail space

APN

89-16-31-220-106.000-030

APU

891631220106000030

Description

This exceptional Richmond, Indiana commercial property presents a unique investment opportunity. Zoned C4, it offers 2,944 square feet of versatile space on a nearly 4-acre lot, previously used as a thriving nursery and landscaping business for over 25 years. The property includes a 1,152 sq ft retail building with a covered porch, office, handicap-accessible bathroom, central air, and a security system. A 2012-built 55x32 pole barn features concrete floors, fluorescent lighting, and two overhead doors. Two greenhouses (one heated), two lath houses, and ample fenced outdoor space with three exterior water faucets provide extensive potential. The high-traffic location and existing infrastructure offer numerous possibilities for various businesses, from retail to light industrial uses. The property's extensive outdoor area provides ample parking and storage. This is a rare opportunity to acquire a well-established, versatile commercial property in a prime location. The property's history as a successful landscaping business demonstrates its suitability for similar ventures, but its zoning and layout allow for a wide range of alternative uses. The existing structures are well-maintained and offer immediate functionality, minimizing upfront investment needs.

• CAP approach

  CAP return

  Valuation

  6%

  $251,796

  6.5%

  $232,427

  7%

  $215,825

• Comparable approach

  Method

  Valuation

  Relative Method

  $280,512

  Geo Method

  $360,529

• Alternative Use

  Use

  Valuation

  Residential

  $196,061

  Hospitality

  $179,591

  Educational

  $149,417

  Medical

  $154,556

  Retail

  $232,427

Location Insight

City

Richmond

County

Wayne

State

Indiana

Latitude

39.8428

Longitude

-84.911

CBSA code

39980

CBSA name

RICHMOND, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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