206 Walnut St Salem, IN 47167
- Retail space
- 3,885 SF
- 0.64 lot acres
Current Use by Public Records
- Miller Hardware / Hardware Store / Home Improvement Store
Property Details for 206 Walnut St
- Year built
- 1965
- Construction
- WOOD
- Lot size
- 0.64 lot acres
- Property size
- 3,885 SF
- Property type
- Retail space
- APN
- 88-24-17-331-114.000-022
- APU
- 882417331114000022
Description
This exceptional commercial property at 206 W Walnut Street in Salem, Indiana, presents a remarkable investment opportunity. Spanning 0.86 acres and boasting high visibility due to its location bordering two main roads, this property offers significant potential for a variety of businesses. The main building comprises nearly 4,000 square feet of open space, ideal for retail display or warehousing, complemented by two well-appointed offices, a convenient bathroom, a loading dock, and two separate entry points. Recent upgrades significantly enhance the property's value and functionality. These include the installation of two new air conditioning units and two new furnaces in 2017, along with a new water heater and new flooring during the same year. Partial roof replacement was also completed in 2017, and a fresh coat of paint was applied in 2023. The property's history as a thriving hardware and lawn and garden center speaks to its inherent suitability for similar ventures. Beyond the main building, three additional structures offer versatile space. One is an open-sided building measuring 24 x 60 x 14 feet, while another is a 26 x 50 foot building featuring a large room with a garage door. A third storage building, equipped with three sliding doors and four open bays, previously served as mulch storage. Ample parking is available, with 35+ spaces currently accessible, and the possibility of expanding parking further by utilizing an adjoining lot. The property's diverse features and prime location make it suitable for a wide range of uses, including but not limited to lawn and garden centers, hardware stores, flea markets, mower shops, floral shops, and various other retail businesses. This is a rare opportunity to acquire a well-maintained, versatile commercial property in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Washington
- State
- Indiana
- Longitude
- -86.103
- Latitude
- 38.6064
- CBSA code
- 31140
- CBSA name
- LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA
