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616-721 E 8th St
Anderson, IN 46012
Anderson Professional Building · Office Property For Sale
Executive Summary
A rare chance to own a fully functional, lucrative income-generating commercial property in a strengthening market. This 6,647+/- SF office building boasts 7 total units, 5 commercial units and 2 residential units, blending historic charm with modern functionality, while delivering immediate rental income with significant upside. Zoned B-1 (Local Business District) and strategically located near downtown Anderson and I-69, this property presents flexibility and adaptability with tenants needs. Currently 3 out of 7 total units leased, this property offers immediate rental income, making it an attractive prospect for investors seeking a well-maintained property with enduring value. Tax and local incentives like Tax Increment Financing (TIF), Municipal Riverfront Development District and various credits enhance its appeal.
Adding to the appeal, the property is surrounded by a strong mix of amenities that support both commercial and residential tenants, including Anderson University, Purdue Polytechnic Institute, the Paramount Theatre Centre & Ballroom, Anderson Museum of Fine Arts, Dickmann Town Center, Ron Lahody’s Trust Your Butcher Steakhouse, and Mounds State Park. These cultural, educational, and lifestyle anchors strengthen the property’s ability to attract and retain tenants long term, adding to its investment allure.
Backed by a robust local economy led by Nestlé, Ascension St. Vincent Anderson, Community Hospital Anderson, and Anderson University, this asset sits in a market with stable employers. Anderson also supports a growing entrepreneurial and startup ecosystem through incubators like the Flagship Enterprise Center and InerG Impact, fostering new business creation and future tenant demand. Just minutes from I-69 and less than an hour from Indianapolis, Anderson offers investors affordability with real growth potential. This is a turnkey opportunity with immediate cash flow, 100% occupied/leased, and long-term stability.
Don't miss this chance to acquire a prime commercial and residential property in a thriving area with 616 & 618 E 8th St's immense potential!
616, 618, 620 & 622 E 8th St, Anderson, IN 46012
Adding to the appeal, the property is surrounded by a strong mix of amenities that support both commercial and residential tenants, including Anderson University, Purdue Polytechnic Institute, the Paramount Theatre Centre & Ballroom, Anderson Museum of Fine Arts, Dickmann Town Center, Ron Lahody’s Trust Your Butcher Steakhouse, and Mounds State Park. These cultural, educational, and lifestyle anchors strengthen the property’s ability to attract and retain tenants long term, adding to its investment allure.
Backed by a robust local economy led by Nestlé, Ascension St. Vincent Anderson, Community Hospital Anderson, and Anderson University, this asset sits in a market with stable employers. Anderson also supports a growing entrepreneurial and startup ecosystem through incubators like the Flagship Enterprise Center and InerG Impact, fostering new business creation and future tenant demand. Just minutes from I-69 and less than an hour from Indianapolis, Anderson offers investors affordability with real growth potential. This is a turnkey opportunity with immediate cash flow, 100% occupied/leased, and long-term stability.
Don't miss this chance to acquire a prime commercial and residential property in a thriving area with 616 & 618 E 8th St's immense potential!
616, 618, 620 & 622 E 8th St, Anderson, IN 46012
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
6,647 SF
Building Class
C
Year Built
1970
Price
$287,500
Price Per SF
$43.25
Cap Rate
9.04%
NOI
$25,990
Percent Leased
43%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,324 SF
Building FAR
0.44
Lot Size
0.35 AC
Zoning
B-1 - Neighborhood Business District
Parking
20 Spaces (3.01 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Signage
- Storage Space
- Outdoor Seating
- Air Conditioning
Property Taxes
| Parcel Number | 48-12-07-303-206.000-003 | Improvements Assessment | $101,200 |
| Land Assessment | $12,400 | Total Assessment | $113,600 |
Property Taxes
Parcel Number
48-12-07-303-206.000-003
Land Assessment
$12,400
Improvements Assessment
$101,200
Total Assessment
$113,600
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