107, 109, 111 Market Street Nappanee, IN 46550

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Mixed Use • 121Y Old

$349,900

107, 109, 111 Market Street

0.21 Acres
Property Description

Great redevelopment opportunity in the heart of Downtown Nappanee. Located on the Southeast corner of Market St and Main St, this two story mixed-use building features 5 retail/office spaces on the ground level and approximately 7,700 sqft of potential residential space on the second floor with 14 foot ceilings. All 5 retail/office spaces are occupied and cash-flowing, with annual revenues of $50,400, including one second-story 3-bed 1-bath apartment which is also occupied. This building presents an investor the opportunity to redevelop the second story into 8-12 apartments and increase NOI significantly. Located a short distance from several new restaurants, bars and breweries, new apartments would be well situated to attract tenants. Comparable upper-market apartments are renting for $1,200 for 2-beds.

Amenities

Map to 107, 109, 111 Market Street, Nappanee, IN 46550

Property
MLS # 202013654
Status Cont-AccptngBackupOffers
Property Type Commercial
Property SubType Mixed Use
New Construction No
Type Mixed Use
Annual Taxes $6,220.00
Year Taxes Payable 2018
Year Built 1900
Virtual Tour propertypanorama.com »
Days on Market 278
Additional
External Features
Construction Mixed Use
Lot Size 8,973 sq ft
Location
Area Elkhart County
County Elkhart County
Subdivision None
Township Union
City Nappanee
State IN
Zip 46550
Financial
Assoc. Dues $0.00

MLS# 202013654.
Listing Provided Courtesy of Joseph Tiffany
Tiffany Group Real Estate Advisors LLC

IDX information provided by the Indiana Regional MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.

Listing information last updated Friday, January 22nd, 2021 at 11:45 PM EST.