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503 S Main St 13,500 SF Office Building Nappanee, IN 46550 $495,000 ($36.67/SF)
Investment Highlights
- Historic building south of downtown Nappanee
- Freight elevator
- Hardwood floors
Executive Summary
Historic building located south of US 6 in downtown Nappanee, IN was originally built for George Freese’s Sons Creamery. This location is on the edge of the downtown area making it a prime location for office use or redevelopment for residential use. The building features original hardwood floors upstairs, 2 stairwells (front and rear), air conditioning throughout, and a freight elevator. Excellent exposure on S Main Street (SR 19).
Office Configuration:
1st Floor: 6 private offices, 2 large open bullpen/showroom areas, waiting room, reception area/copier/printer/mail room, large breakroom, and storage area w/ overhead door.
2nd Floor: 10 private offices and 3 large open bullpen areas.
Office Configuration:
1st Floor: 6 private offices, 2 large open bullpen/showroom areas, waiting room, reception area/copier/printer/mail room, large breakroom, and storage area w/ overhead door.
2nd Floor: 10 private offices and 3 large open bullpen areas.
Taxes & Operating Expenses (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$11,745
|
$0.87
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$11,745
|
$0.87
|
Taxes & Operating Expenses (Actual - 2024)
| Taxes | |
|---|---|
| Annual | $11,745 |
| Annual Per SF | $0.87 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $11,745 |
| Annual Per SF | $0.87 |
Property Facts
Sale Type
Owner User
Property Type
Building Size
13,500 SF
Building Class
C
Year Built
1910
Price
$495,000
Price Per SF
$36.67
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,750 SF
Slab To Slab
14’
Building FAR
0.56
Lot Size
0.55 AC
Zoning
R-4 Office/Residential - Space is zoned for office use or could be redeveloped into multi-tenant residential.
Parking
28 Spaces (2.07 Spaces per 1,000 SF Leased)
Amenities
- Reception
- Storage Space
- Air Conditioning
1 1
Bike Score®
Very Bikeable (84)
Property Taxes
| Parcel Number | 20-14-31-351-010.000-029 | Total Assessment | $458,600 (2025) |
| Land Assessment | $54,600 (2025) | Annual Taxes | $11,745 ($0.87/SF) |
| Improvements Assessment | $404,000 (2025) | Tax Year | 2024 Payable 2025 |
Property Taxes
Parcel Number
20-14-31-351-010.000-029
Land Assessment
$54,600 (2025)
Improvements Assessment
$404,000 (2025)
Total Assessment
$458,600 (2025)
Annual Taxes
$11,745 ($0.87/SF)
Tax Year
2024 Payable 2025
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503 S Main St
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