208 Lincoln Ave Goshen, IN 46528-3348
- Residential income homes
- 7,262 SF
- 0.06 lot acres
Current Use by Public Records
- Hamilton Iron Works / Sheet Metal Contractor
- The Crypt / Moped Dealer
Property Details for 208 Lincoln Ave
- Year built
- 1893
- Construction
- WOOD
- Lot size
- 0.06 lot acres
- Property size
- 7,262 SF
- Zone code
- ZO01
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 20-11-09-430-002.000-015
- APU
- 201109430002000015
Description
This exceptional mixed-use property, located at 208 E Lincoln Ave in the heart of Goshen, Indiana, presents a unique investment opportunity. The building, constructed in 1893, boasts a total of 4,720 square feet across two buildings and two stories. Currently, the occupancy rate is 50%, with two street-level commercial spaces and two upstairs penthouse loft apartments. One 1,176-square-foot street-level suite is occupied by a non-profit organization, with a residential unit above. The second street-level suite, measuring 1,184 square feet, is vacant and ready for renovation. This space also includes an upstairs penthouse loft, offering significant potential for high-end residential development. The property is zoned B2 and situated in Goshen's vibrant downtown, known for its thriving shops, restaurants, and popular First Friday festivals. While the building requires some work, its prime location and versatile layout offer unlimited potential for the right investor or user to capitalize on its considerable upside. The asking price is $349,900. This is a chance to own a piece of Goshen's bustling downtown, with the potential to create a thriving commercial and residential space. The property's two-building structure and multiple units provide flexibility for a variety of uses and income streams. Don't miss this opportunity to acquire a significant piece of Goshen's commercial real estate market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $140,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $175,000
- 6.5%
- $170,000
- 7%
- $180,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $165,000
- Geo Method
- $175,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $165,000
- Retail
- $150,000
- Mixed-Use
- $155,000
- Hospitality
- $160,000
- Educational
- $170,000
- Residential Income
- $185,000
- Energy
- $160,000
- Income-Based Land
- $165,000
- Food Service
- $200,000
Location Insight
- Map
- Local Demand
- City
- Goshen
- County
- Elkhart
- State
- Indiana
- Longitude
- -85.8326
- Latitude
- 41.5862
- CBSA code
- 21140
- CBSA name
- ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA
