256 S Mami St
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256 S Mami St
4,752 SF 100% Leased Retail Building Wabash, IN 46992 $395,000 ($83/SF) 12.86% Cap Rate
Investment Highlights
- Downtown Wabash
- Fully Renovated
Executive Summary
Ready to own your piece of Downtown Wabash? Now is your chance, as this beautifully renovated downtown building is for sale! The downstairs is currently set up for operation as a restaurant space while there are two upstairs rental units that are being ran as month-to-month furnished rentals. There have been countless upgrades to the property over the past few years, including but not limited to interior updates of a new tankless water heater, furnace, electric, fire alarms and exit signs, lighting, paint, flooring, gas line and meter, and exterior updates of painting, waterproofing, and tuck pointing the building. One wing of the restaurant currently has built in bar seating, obtaining a liquor license could allow you to grow income even further. The upstairs units could be kept at month-to-month units, or easily converted back to traditional rental units. This building would be an awesome opportunity for an investor looking to add to their portfolio, or an aspiring business operator wanting to take that next leap! Owners willing to sell on contract for the right buyers/terms.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,752 SF
Building Class
C
Year Built
1960
Price
$395,000
Price Per SF
$83
Cap Rate
12.86%
NOI
$50,799
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.05 AC
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 85-14-11-304-223.000-009 | Total Assessment | $139,500 (2023) |
| Land Assessment | $7,400 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $132,100 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
85-14-11-304-223.000-009
Land Assessment
$7,400 (2023)
Improvements Assessment
$132,100 (2023)
Total Assessment
$139,500 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Presented by
Terrell Realty Group, Llc
256 S Mami St
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