512-514 Broadway - Investment

Retail-Commercial for Sale
Catylist Listing ID: 30571503
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Other
Building Size (RSF): 7,484 SF
Gross Land Area: 0.20 Acres
Sale Price: $420,000
Unit Price: $56.12 PSF
Property Use Type: Investment
Usable Size (USF): 7,484 SF
Sale Terms: Cash to Seller
Cap Rate: 10.0%
Average Occupancy Rate: 100
Last Updated: 1/21/2021

Overview / Comments

Excellent Investment Property - New Haven, IN. Two buildings, each two stories, located on major north/south street in center of town. Highly visible and 100% leased. Cap rate is 10% and NOI is $42,000. Main level in each building holds retail or office businesses. Upper levels have total of five apartment living spaces - also 100% occupied. Standard electric service and gas forced air heating in both buildings. Main level retail has central air; upper apartments have window units. Additional parcel ID #02-13-12-155-023.000-041.

Additional Details

Nearest MSA: Fort Wayne
County: Allen
Tax ID/APN: 021312155023000041
Zoning: C-1
Retail Clientele: General, Family, Business, Other
Property Visibility: Excellent
Feet of Frontage: 40
Traffic/Vehicle Count: 5,900
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Average
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Carport parking for apartment tenants
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,573 33,807 98,570
Median Age: 38.57 38.64 36.29
Households: 3,442 13,292 38,941
The information presented herein is provided as is, without warranty of any kind. Neither Indiana Commercial Board of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.