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15 S Indiana St 6,910 SF 51% Leased Retail Building Greencastle, IN 46135 $574,900 ($83.20/SF)
Investment Highlights
- Prime downtown location in the center of Greencastle's business district, located near restaurants, retail, entertainment, and community events.
- Walking distance to DePauw University with growing demand for downtown commercial space driven by university activity and local economic development.
- Fully renovated in 2025 with over $400,000 invested in improvements offering a Mixed-use asset with commercial and residential income.
- Airbnb/short-term rental unit on the upper level and Commercial retail/office space on ground floor allows diversified income for owner or investor.
Executive Summary
Turnkey Mixed-Use Investment with Short-Term Rental Income and Commercial Cash Flow
Discover a rare opportunity to acquire a fully renovated mixed-use asset in the heart of downtown Greencastle, Indiana—home to prestigious DePauw University and one of the most desirable college-town markets in the Midwest.
This historic property has undergone more than $400,000 in recent renovations and capital improvements, creating a turnkey investment opportunity for buyers seeking immediate income potential with minimal deferred maintenance.
Positioned in the heart of historic downtown Greencastle, Indiana, this exceptional commercial property offers investors the opportunity to own a landmark location in one of Indiana's most vibrant college communities.
Located just steps from DePauw University, a nationally recognized private university with students from across the United States and around the world, this property benefits from year-round traffic generated by students, faculty, alumni, visitors, and local residents. DePauw University has been a cornerstone of the community since 1837 and continues to attract a highly educated and affluent demographic.
The building sits adjacent to the iconic Moore's Bar & Grill, a local institution that has served as a destination gathering place for generations and remains one of the most recognizable establishments in Putnam County.
Discover a rare opportunity to acquire a fully renovated mixed-use asset in the heart of downtown Greencastle, Indiana—home to prestigious DePauw University and one of the most desirable college-town markets in the Midwest.
This historic property has undergone more than $400,000 in recent renovations and capital improvements, creating a turnkey investment opportunity for buyers seeking immediate income potential with minimal deferred maintenance.
Positioned in the heart of historic downtown Greencastle, Indiana, this exceptional commercial property offers investors the opportunity to own a landmark location in one of Indiana's most vibrant college communities.
Located just steps from DePauw University, a nationally recognized private university with students from across the United States and around the world, this property benefits from year-round traffic generated by students, faculty, alumni, visitors, and local residents. DePauw University has been a cornerstone of the community since 1837 and continues to attract a highly educated and affluent demographic.
The building sits adjacent to the iconic Moore's Bar & Grill, a local institution that has served as a destination gathering place for generations and remains one of the most recognizable establishments in Putnam County.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
6,910 SF
Building Class
C
Year Built/Renovated
1900/2025
Price
$574,900
Price Per SF
$83.20
Percent Leased
51%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
4.21
Lot Size
0.04 AC
Zoning
C - Commercial
Parking
24 Spaces (3.47 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Corner Lot
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
- Cafe
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 67-09-21-201-109.000-008 | Improvements Assessment | $94,100 |
| Land Assessment | $4,700 | Total Assessment | $98,800 |
Property Taxes
Parcel Number
67-09-21-201-109.000-008
Land Assessment
$4,700
Improvements Assessment
$94,100
Total Assessment
$98,800
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15 S Indiana St