102 W Main St Mentone, IN 46539

Property Details for 102 W Main St

Year built

1905

Construction

WOOD

Lot size

0.23 lot acres

Property size

11,803 SF

Property type

Banks

APN

43-13-01-400-013.000-036

APU

431301400013000036

Description

This exceptional investment opportunity presents a rare chance to acquire a strategically located commercial property in Mentone, Indiana, at 102 W Main Street. The property boasts a long-standing tenant: the United States Postal Service, which has occupied the building since the 1960s, providing a stable and reliable income stream via a readily transferable lease. The building features a newly installed roof (2018), adding to its value and minimizing immediate maintenance concerns. Beyond the postal service, the property includes a leased efficiency apartment and a leased one-bedroom apartment, generating additional rental income. A significant highlight is the expansive, approximately 4,000 square foot (+/-) unfinished second level, offering substantial potential for development. This space presents a blank canvas for future expansion, with possibilities including multiple residential apartments or additional commercial spaces, subject to necessary town and county approvals. The combination of consistent income from the existing tenants and the significant upside potential from developing the second floor makes this a compelling investment for those seeking a strong return on investment. The 0.15-acre lot provides ample space for the existing structure and any future development. This property offers a unique blend of stable income and significant growth potential, making it an attractive opportunity for discerning investors. The existing lease with the USPS provides a strong foundation for future success.