403 Melville St, Rensselaer, IN 47978-2324
This single-story, 2,016 square foot industrial office building presents a compelling investment opportunity in Rensselaer, Indiana. Built in 1990, the property sits on a 19,646 square foot lot and is zoned Industrial-2, allowing for diverse uses. The interior boasts flexible office space currently configured into eight individual offices, a reception area, meeting/conference space, kitchenette, a three-quarter bath, and a half-bath. The building's location in Rensselaer offers convenient access to transportation and infrastructure. The asking price is $249,900, translating to $123.96 per square foot. Detailed permitted zoning information is available upon request, outlining uses permitted under the I-2 zoning classification. This well-maintained property is ideal for a variety of businesses, including manufacturing, contracting/construction offices, and distribution operations. The property's versatile layout and strategic location make it an attractive option for entrepreneurs and established businesses alike. The property's address is 403 N Melville St, Rensselaer, IN 47978. The Assessor's Parcel Number (APN) is 37-07-20-000-001.055-027.
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
BUFF · Rensselaer, INRensselaer. Always verify with local authorities before improvements.
No recorded transactions found for this property.
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.