227 Water St Borden, IN 47106-8810
This exceptional commercial property, located at 227 Water Street in Borden, Indiana, presents a unique investment opportunity. The building boasts a total of 2500 square feet situated on a half-acre lot, offering ample space and significant parking. A recent remodel in 2018 ensures modern functionality. The property includes a 700-square-foot office area, complete with a half-bath and ductless HVAC system, currently available for lease at $750 per month, potentially including a utility allowance. The remaining space provides versatile storage options. The building's design allows for easy divisibility, catering to a range of commercial uses including retail, office space, storage, or even light industrial/mechanical applications. Its convenient location offers excellent highway road frontage, ensuring high visibility and accessibility. Utilities are readily available through Borden Tri-County Water, Borden Sewer, and Duke Energy. The seller is open to leasing the entire building, providing flexibility for potential buyers or tenants. This property is ideal for entrepreneurs seeking a well-maintained space with significant potential in a scenic, thriving community. The combination of its size, location, and recent renovations makes this an attractive investment opportunity.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.