215 Pearl St Portland, IN 47371-1428

Property Details for 215 Pearl St

Year built

1993

Construction

WOOD

Lot size

0.28 lot acres

Property size

1,920 SF

Property type

Specialty properties

APN

38-07-16-303-059.000-034

APU

380716303059000034

Description

This exceptional 1,920 square foot commercial office building, located at 215 E Pearl St in Portland, Indiana, presents a compelling investment opportunity. The property boasts seven individual office spaces, a spacious open lobby, and a welcoming reception area, ideal for a small business or multiple tenants. Two restrooms and a small lounge with substantial storage add to the building's functionality. The building sits on a 0.28-acre lot and includes a concrete and partially paved parking lot with fourteen parking spaces, ensuring ample parking for employees and clients. Currently leased through 2024, this property offers immediate income potential with the possibility of lease renewal from existing tenants. The seller intends to execute a 1031 exchange upon the sale of this property, making it an attractive option for investors seeking tax-advantaged transactions. The building's solid construction and desirable location in Portland, Indiana, combine to create a strong investment opportunity with excellent potential for long-term returns. This turnkey operation requires minimal effort to maintain current income and offers significant upside potential for future growth. The property's features and current lease agreement make it an attractive investment for both seasoned and new investors. The combination of a stable income stream and the potential for future appreciation makes this a rare find in the Portland commercial real estate market.