Property profile

403 Melville St Rensselaer, IN 47978

OFF-MARKET
Industrial properties
Property ID
US31-2822806
2,016 SF 0.45 ac lot Built 1990
Entity Owned Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1990
Construction WOOD
Total area 2,016 SF
Lot 0.45 ac (19,646 SF)
Zoning code BUFF
APN 37-07-20-000-001.055-027
UPID US31-2822806

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

403 Melville St Rensselaer, IN 47978-2324
Rensselaer metro Census 101200 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$160k

Owner & transaction history

Zoning & alternative use

BUFF · Rensselaer, IN

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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