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Property profile & analytics
OFF-MARKET
Retail space

515 Main St Mitchell, IN 47446-1410

1,250 SF 0.08 ac lot Built 1910
Entity Owned Free & Clear
Property ID
US31-1848073
Property summary
AI-generated overview

This exceptional 1,250 square foot commercial building, located at 515 W Main Street in Mitchell, Indiana, presents a fantastic investment opportunity. Completely remodeled in 2021, this property boasts a unique blend of historic charm and modern functionality. The original exposed brick wall adds character and visual appeal, while updated features include fresh paint, new lighting, and a high-efficiency HVAC system supplemented by two additional mini-splits, ensuring year-round comfort. Recent improvements also encompass a fully renovated bathroom, updated plumbing and sewer lines, and a durable rubber roof, minimizing future maintenance concerns. Added convenience is provided by a new key pad entry system on the rear door. The interior further benefits from newly installed cabinets and a sink, enhancing functionality and appeal. Sitting on a 0.08-acre lot, this versatile space is zoned B-2, allowing for a multitude of uses. Previously utilized as a rental property, its potential is virtually limitless, making it ideal for a variety of businesses. The asking price is $109,900. This is a rare opportunity to acquire a move-in ready commercial property in a desirable location. Don't miss out on this exceptional offering.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1910
Construction WOOD
Total area 1,250 SF
Lot 0.08 ac (3,300 SF)
APN 47-11-36-342-047.000-005
UPID US31-1848073
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Nola Properties LLC
Nola Properties LLC
since 2025
2 recorded transactions
2025
Price N/A
2023
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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