515 Main St Mitchell, IN 47446-1410
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.
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.