Patterson Property

Retail: Freestanding

890 S State St, North VernonIN 47265

Property Details

Location

Address
890 S State St, North VernonIN 47265
County
Jennings
Submarket
Parcels
401203100009000004

Building Size

Building Size
2,800 SF
Rentable Space
2,800 SF

Building Details

Type
 Retail: Freestanding
Number of Buildings
3
Occupancy Type
Multi-tenant
Percent Occupied
Building Class
Building Status
Existing
Floors
1
Year Built
Sprinklers
Total Parking
35
Parking Ratio

Land & Utilities

Land (Acres)
3.07 Acres
Land (SF)
133,729 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
COMMERCIAL
Lot Depth
Lot Width

Contacts

Current Listings

Patterson Property

2,800 SF$450,000

This site is a unique property. It has a very nice 2800 square foot building with frontage on SR. 7 & SR. 3. It has lots of parking. In fact, it was a car lot for many years and has been owned by the same family for years. It is licensed for up to 11 mobile home spaces that are grandfathered in along the rear of the property, however only six are in use and they do generate an income. There is a nice 1040 square foot building and a 1200 square foot pole barn both situated along the rear of the property. The 2800 square feet building is presently used by the Seller for his small business. All the income from the six mobile home spaces, the two outbuildings and the main building being used by the Seller generate an NOI of $33,500 per year. The Seller is planning on retiring and would continue to lease the main building for a short period or could vacate sooner if needed. This would be a great location for an owner/user or as a rental producing property. This also has the potential for a convenient store or several other street retail businesses.

This site is a unique property. It has a very nice 2800 square foot building with frontage on SR. 7 & SR. 3. It has lots of parking. In fact, it was a car lot for many years and has been owned by the same family for years. It is licensed for up to 11 mobile home spaces that are grandfathered in along the rear of the property, however only six are in use and they do generate an income. There is a nice 1040 square foot building and a 1200 square foot pole barn both situated along the rear of the property. The 2800 square feet building is presently used by the Seller for his small business. All the income from the six mobile home spaces, the two outbuildings and the main building being used by the Seller generate an NOI of $33,500 per year. The Seller is planning on retiring and would continue to lease the main building for a short period or could vacate sooner if needed. This would be a great location for an owner/user or as a rental producing property. This also has the potential for a convenient store or several other street retail businesses.

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CIE

Source: ICREX

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