Property summary
This impressive three-story building, situated at 1601 Main Street in Elwood, Indiana, offers a substantial 24,870 square feet of space on a 0.4-acre lot. Located in the heart of downtown Elwood, Madison County, this historic structure boasts a wealth of character and unique features. The building includes a full basement and attached garages, providing ample storage and potential for expansion. The interior features educational rooms, offices, and a notable stage on the third floor,… suggesting a rich history of diverse uses. While currently utilized for storage, the building's versatile layout presents numerous possibilities for redevelopment. Its size and central location make it ideal for a variety of commercial ventures. The potential for grants and incentives may be available to qualified buyers, further enhancing the investment opportunity. This property represents a rare chance to acquire a significant piece of Elwood's history and transform it into a thriving commercial space. The building's substantial square footage, coupled with its prime downtown location and unique features, makes it a compelling investment prospect. Serious inquiries are encouraged to explore the full potential of this remarkable property. The asking price is $275,000.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with a plan.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.
Property tax
Value estimate
· Nov 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
1 recorded sale · 8 properties nearbyComparable nearby
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 24,870 SF
- Lot area
- 0.4 ac
- Year built
- 1900
- Stories
- 5
- APN
- 48-04-15-202-087.000-027
- Assessed value · 2023
- $564,200
- Commercial (general) · current use
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with a plan - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
The mortgage data comes with a plan: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
Rey answers here. ChatGPT, Grok and Claude get the same data packet.
Includes: Price & PSF · Cap rate · Location · Zoning
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- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
- Location Analytics
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- Local Market trends
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- 1,500 Targeted Leads a month
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- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
- Location Analytics
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