29 Public Sq, Shelbyville, IN

Name: 29 Public Sq, For Sale in Shelbyville - Zoocasa
Brand: Carpenter, REALTORS®
SKU: 22106192
Price: 2800000 USD

House

For Sale

Listed price in listed location currency (USD).

$2,800,000

000

MLS® 22106192

Overview

Key Facts

Type Mixed Use

Levels Commercial Sale

Size -

Garage

Taxes

Days Active 0

Lot Size

Approx. Age 1900

MLS® Number 22106192

Property Address: 29 Public Sq, Shelbyville, IN, 46176-1340

Average square foot calculated using Size range provided by listing agent.

Description

Downtown Shelbyville Value-Add Investment Opportunity. Three mixed-use commercial buildings are available for acquisition in downtown Shelbyville, Indiana, offering investors a compelling opportunity to renovate, lease, stabilize and resell at a significantly higher valuation. The portfolio includes a mix of apartments, office space and retail space, creating multiple income streams once stabilized. The properties require substantial construction and lease-up, but the offering has been structured to account for that work. The total sale price of $2.8 million, inclusive of the current construction budget needed to complete improvements and bring the vacant spaces to lease-ready condition. At full occupancy, the properties are projected to generate approximately $400, 000 in annual NOI, representing a projected 14.28% yield on cost. As the vacant spaces are improved and leased, the portfolio has the potential to increase materially in value. Once fully stabilized, the asset could support an estimated resale value of $5.0 million to $5.7 million, assuming a market cap rate of 7% to 8%. This a strong value-add opportunity for an investor seeking downtown mixed-use real estate with clear upside through construction completion, lease-up and income growth.

MLS® Number22106192

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1900

Basement

Driveway

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Map

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