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224 S 5th St 6,129 SF 60% Leased Office Building Richmond, IN 47374 $275,000 ($44.87/SF) 15.00% Cap Rate
Investment Highlights
- Heavily trafficked street
- Excellent retail space available
Executive Summary
Take advantage of this exceptional opportunity. This 6129 SF building is 60% leased, with a cap rate of 15%. It is a commercial building situated along a high-traffic corridor with outstanding visibility. The main level of this attractive two-story property, which is for lease, offers a welcoming reception area, multiple office spaces, a shared restroom, a fully equipped kitchenette, a stunning atrium with a fountain, and abundant storage in the full basement. Rich wood craftsmanship and three fireplaces add warmth and character throughout the space. For additional information or to arrange a private showing, contact Alan Stamper at 765-994-8822.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Sale Condition
Lease Option
Property Type
Office
Property Subtype
Building Size
6,129 SF
Building Class
B
Year Built/Renovated
1900/2010
Price
$275,000
Price Per SF
$44.87
Cap Rate
15.00%
NOI
$41,250
Percent Leased
60%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,065 SF
Building FAR
0.94
Lot Size
0.15 AC
Zoning
ZO01 - Commercial
Parking
3 Spaces (0.49 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Floor
- 2,220 SF
- Office
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 2,220 SF | Office | - | Now |
1st Floor
| Size |
| 2,220 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
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Fairly walkable
50/100
Moderately drivable
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 89-18-05-230-225.000-030 | Improvements Assessment | $136,700 |
| Land Assessment | $10,800 | Total Assessment | $147,500 |
Property Taxes
Parcel Number
89-18-05-230-225.000-030
Land Assessment
$10,800
Improvements Assessment
$136,700
Total Assessment
$147,500
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Map
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Contact the Sale Advisor
224 S 5th St