106 Franklin St, Milan, IN 47031
- Commercial real estate
- 3,160 SF
- 0.12 lot acres
Current Use by Public Records
- Edward Roberts Fine Woodworking LLC / General Contractor
Property Details for 106 Franklin St
- Year built
- 1900
- Construction
- WOOD
- Lot size
- 0.12 lot acres
- Property type
- Commercial real estate
- APN
- 69-09-24-444-012.000-010
- APU
- 690924444012000010
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 15, 2011 | — | William M Kissell | Edward R Collinge | Quit Claim Deed · related | — |
| Sep 4, 2009 | — | William M Kessell | Tina Caudill | Quit Claim Deed · related | — |
Description
This exceptional commercial property, located at 106 Franklin Street in Milan, Indiana, presents a unique investment opportunity. The building, formerly the Milan Theater, boasts a rich history and is situated on a 0.12-acre lot in the heart of town, just around the corner from the Milan 1954 Museum. The brick structure is currently leased to two separate tenants, generating a consistent income stream. The first floor is occupied by a manufacturing business, paying $800 per month in rent. An upstairs apartment is also leased, bringing in an additional $600 monthly. This translates to a combined monthly rental income of $1400. Tenants are responsible for their own utilities, with separate electric and gas meters. Water and sewer costs are split between the tenants. The property benefits from a recently installed new roof, completed in February 2022. This turnkey investment offers a blend of historical charm and strong rental potential, making it an attractive proposition for discerning investors seeking a stable and profitable venture in a desirable location. The property is priced at $163,000. Appointments must be scheduled in advance to allow sufficient time to notify the tenants.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Milan
- County
- Ripley
- State
- Indiana
- Longitude
- -85.1325
- Latitude
- 39.1227
