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Property profile & analytics
OFF-MARKET Estimated value $1,880,000
Office Spaces

302 Main St Francisco, IN 47649-9711

24,201 SF 0.99 ac lot Built 1980
Entity Owned 5-yr Hold Free & Clear
Property ID
US31-2111019
Property summary
AI-generated overview

Exceptional opportunity awaits with this sealed-bid auction for the former Francisco Elementary School. This expansive property encompasses over 7.425 acres of land, strategically divided into three conveniently sized tracts for flexible development options. The substantial 24,000+ square foot building presents a unique canvas for adaptive reuse, offering significant potential for various commercial or residential ventures. Multiple paved parking areas, gated access, and a fully fenced lot enhance the property's security and functionality. Its prime location, just 2.5 miles west of Interstate 69, ensures excellent accessibility and visibility. The property's size and location make it ideal for a range of development projects, including residential subdivisions or commercial ventures. The auction format allows for competitive bidding and a transparent acquisition process. Detailed property inspections are scheduled for October 17th, 28th, and November 6th, providing ample opportunity for thorough due diligence. The property is located at 302 E Main St, Francisco, IN 47649, in Gibson County, and the sealed bids are due by November 7th, 2024, at 12 noon CT. This is a rare chance to acquire a significant property with substantial development potential in a desirable location. Don't miss this opportunity to transform this former school into a thriving enterprise.

Property profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1980
Construction TYPE NOT SPECIFIED
Total area 24,201 SF
Lot 0.99 ac (43,255 SF)
APN 26-13-20-101-000.031-005
UPID US31-2111019
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Frontier Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.88M
Blend (final) Blend
$1.88M
Owner & transaction history
East Gibson School Corp · 5 yrs held
East Gibson School Corp
since 2021
2 recorded transactions
2021
Price N/A
2018
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $2.6M +38.0%
Retail stores $2.3M +20.0%
Apartment house (5+ units) $1.9M +2.7%
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