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$1 Auction – 48K SF Industrial Building 208 N Miami St 48,744 SF Industrial Building Peru, IN 46970 $75,000 ($1.54/SF)
Investment Highlights
- ABSOLUTE $1 AUCTION | 48,744 SF Industrial Building | Self-Storage and Cold Storage Allowed | AUCTION MARCH 23-25
- Central access to US-31 (25,517 VPD), US-24 (11,649 VPD), and I-65 (±57 mi) reaching key Midwest markets including Fort Wayne, Indianapolis
- Attractive Demographics with Population of ±17,586 Individuals and Average Household Income of $68,659 (5-Mile)
- ±48,744 SF Industrial Building | Potential Self-Storage Conversion Development Opportunity
- Excellent Visibility along N Miami St and Just off N Broadway St (US-31) with Traffic Counts of 9,548 VPD
- Favorable B-3, Commercial District Zoning with Flexible Permitted Uses
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire a vacant 48,744-square-foot vacant processing and warehouse facility located at 208 N Miami Street in Peru, IN (the “Property”). Situated on 2.23 acres, this industrial asset features 44,055 SF on the main level, 1,662 SF basement, and three loading docks. The Property benefits from highly favorable and flexible B-3, Commercial zoning that allows for a wide variety of uses including industrial, retail, grocery, warehouse, self-storge, warehouse, and others.
Peru is a regional commercial and residential hub in Miami County, located along U.S. Highway?31 and just east of Interstate?65 and west of Interstate 69, which provides easy access to both Indianapolis and Fort Wayne trade corridors. Its economy is anchored by advanced manufacturing, healthcare, education, logistics, Dukes Memorial Hospital, and Peru Community Schools creating stable workforce demand. The city supports a diverse commercial real estate market—including retail corridors along Broadway and U.S.?31, industrial/flex space near highway interchanges, and growing multifamily housing demand—making it attractive for developers pursuing value-add and redevelopment projects. The Property further benefits from strong demographics with a population of 17,586 residents and an average household income of $68,659 within a 5-mile radius. Delivered vacant, the property is positioned for an owner-user to control occupancy costs at a low basis or for an investor to execute a redevelopment plan.
Peru is a regional commercial and residential hub in Miami County, located along U.S. Highway?31 and just east of Interstate?65 and west of Interstate 69, which provides easy access to both Indianapolis and Fort Wayne trade corridors. Its economy is anchored by advanced manufacturing, healthcare, education, logistics, Dukes Memorial Hospital, and Peru Community Schools creating stable workforce demand. The city supports a diverse commercial real estate market—including retail corridors along Broadway and U.S.?31, industrial/flex space near highway interchanges, and growing multifamily housing demand—making it attractive for developers pursuing value-add and redevelopment projects. The Property further benefits from strong demographics with a population of 17,586 residents and an average household income of $68,659 within a 5-mile radius. Delivered vacant, the property is positioned for an owner-user to control occupancy costs at a low basis or for an investor to execute a redevelopment plan.
Property Facts
| Price | $75,000 | Rentable Building Area | 48,744 SF |
| Price Per SF | $1.54 | No. Stories | 2 |
| Sale Type | Investment | Year Built/Renovated | 1925/2002 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing | Clear Ceiling Height | 29’ |
| Building Class | B | No. Dock-High Doors/Loading | 2 |
| Lot Size | 2.23 AC | No. Drive In / Grade-Level Doors | 2 |
| Zoning | I-2-S | ||
| Price | $75,000 |
| Price Per SF | $1.54 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 2.23 AC |
| Rentable Building Area | 48,744 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2002 |
| Tenancy | Single |
| Clear Ceiling Height | 29’ |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | I-2-S |
Utilities
- Gas
- Water - City
- Sewer - City
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Walk Score®
Very Walkable (76)
Property Taxes
| Parcel Number | 52-08-28-401-011.000-016 | Improvements Assessment | $338,900 |
| Land Assessment | $43,400 | Total Assessment | $382,300 |
Property Taxes
Parcel Number
52-08-28-401-011.000-016
Land Assessment
$43,400
Improvements Assessment
$338,900
Total Assessment
$382,300
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$1 Auction – 48K SF Industrial Building | 208 N Miami St
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