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The Bedford 231-237 S Wabash St 6,852 SF 55% Leased Retail Building Wabash, IN 46992 $899,000 ($131.20/SF) 5.34% Cap Rate
Investment Highlights
- Excellent location in the city center just across from city hall.
- Rental income from 2nd floor apartments.
- Situated at a signalized intersection.
- Perfect for a restaurant, brewery, or distillery.
Executive Summary
3% Buyer’s agent fee offered. This property has 6,000 SF (3,000 SF/floor). In 2nd year of Ten year real estate tax abatement (sliding scale).
The 2nd floor consists of 4 luxury apts. (1 two bed, 1 one bed, & 2 loft apartments generating over $4,600 mo.). Perfect location for owner operator to occupy the 1st floor with their business and off set their expenses with the apartment rents. Great location for a restaurant, brewery or distillery. Community Incentives available for new businesses to the community.
DEMOGRAPHICS 2024 1-Mile 3-Mile 5-Mile Est. Population 3,209 10,972 12,652 Est. Households 1,610 5,380 6,171 Average HH Income $50,341 $54,155 $56,534 TRAFFIC COUNTS S Wabash St: 8,322 ADT Main St: 3,888 ADT
The 2nd floor consists of 4 luxury apts. (1 two bed, 1 one bed, & 2 loft apartments generating over $4,600 mo.). Perfect location for owner operator to occupy the 1st floor with their business and off set their expenses with the apartment rents. Great location for a restaurant, brewery or distillery. Community Incentives available for new businesses to the community.
DEMOGRAPHICS 2024 1-Mile 3-Mile 5-Mile Est. Population 3,209 10,972 12,652 Est. Households 1,610 5,380 6,171 Average HH Income $50,341 $54,155 $56,534 TRAFFIC COUNTS S Wabash St: 8,322 ADT Main St: 3,888 ADT
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
6,852 SF
Building Class
B
Year Built/Renovated
1901/2019
Price
$899,000
Price Per SF
$131.20
Cap Rate
5.34%
NOI
$48,000
Percent Leased
55%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.97
Lot Size
0.08 AC
Opportunity Zone
Yes
Zoning
PUD, r-2
Frontage
52’ on Wabash St
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- A
- 1,050 SF
- Retail
- End Cap
- Now
- B
- 950 SF
- Retail
- In-Line
- Now
- C
- 1,100 SF
- Retail
- End Cap
- Now
| Space | Size | Space Use | Position | Available |
| A | 1,050 SF | Retail | End Cap | Now |
| B | 950 SF | Retail | In-Line | Now |
| C | 1,100 SF | Retail | End Cap | Now |
A
| Size |
| 1,050 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
B
| Size |
| 950 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
C
| Size |
| 1,100 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
Nearby Major Retailers
Property Taxes
| Parcel Number | 85-14-11-304-210.000-009 | Improvements Assessment | $121,700 |
| Land Assessment | $15,000 | Total Assessment | $136,700 |
Property Taxes
Parcel Number
85-14-11-304-210.000-009
Land Assessment
$15,000
Improvements Assessment
$121,700
Total Assessment
$136,700
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The Bedford | 231-237 S Wabash St
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