Miller Building | 100 Northwestern Ave
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Miller Building 100 Northwestern Ave
14 Unit Apartment Building $4,950,000 ($353,571/Unit) 7.17% Cap Rate West Lafayette, IN 47906
Investment Highlights
- Heavy daytime foot traffic
- Nearby major redevelopment investment
- Located near major intersection
Executive Summary
The Marquis Group of KW Commercial Lafayette is pleased to present this exciting investment opportunity located in the heart of West Lafayette's downtown. This is an incredible opportunity to own one of the most iconic corners near Purdue University in West Lafayette. This unique property is home to Greyhouse Coffee, one of West Lafayette's most popular coffee houses and 9 apartments. The 2nd floor features several office spaces overlooking the intersection of Northwestern Avenue and South Street. This property would make an excellent corporate headquarters. The current owner is occupying the 2nd floor office space for their management staff.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$467,451
|
$23.37
|
| Other Income |
$62,554
|
$3.13
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$530,005
|
$26.50
|
| Taxes |
$79,892
|
$3.99
|
| Operating Expenses |
$95,364
|
$4.77
|
| Total Expenses |
$175,256
|
$8.76
|
| Net Operating Income |
$354,749
|
$17.74
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $467,451 |
| Annual Per SF | $23.37 |
| Other Income | |
|---|---|
| Annual | $62,554 |
| Annual Per SF | $3.13 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $530,005 |
| Annual Per SF | $26.50 |
| Taxes | |
|---|---|
| Annual | $79,892 |
| Annual Per SF | $3.99 |
| Operating Expenses | |
|---|---|
| Annual | $95,364 |
| Annual Per SF | $4.77 |
| Total Expenses | |
|---|---|
| Annual | $175,256 |
| Annual Per SF | $8.76 |
| Net Operating Income | |
|---|---|
| Annual | $354,749 |
| Annual Per SF | $17.74 |
Property Facts
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 400 - 825 |
| Studios | 1 | - | 410 |
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Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 79-07-19-278-001.000-026 | Total Assessment | $3,086,800 |
| Land Assessment | $0 | Annual Taxes | $79,892 ($3.99/SF) |
| Improvements Assessment | $3,086,800 | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
79-07-19-278-001.000-026
Land Assessment
$0
Improvements Assessment
$3,086,800
Total Assessment
$3,086,800
Annual Taxes
$79,892 ($3.99/SF)
Tax Year
2023 Payable 2024
zoning
| Zoning Code | CBW (Central Business West Lafayette) |
| CBW (Central Business West Lafayette) |
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Miller Building | 100 Northwestern Ave
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