53 S 2nd St

7,459 SF Retail Building Lafayette, IN 47901 $2,495,000 ($334/SF)

INVESTMENT HIGHLIGHTS

  • Former bank branch for redevelopment
  • Opportunity zone
  • High visibility site

EXECUTIVE SUMMARY

Jim Pitoukkas of Coldwell Banker Commercial Shook is proud to present this tremendous redevelopment opportunity in thriving Downtown Lafayette. The site offers the opportunity to redevelop a former bank branch on one of the most visible downtown corners. The half city block is the first right hand read signalized location for those traveling east from West Lafayette into Lafayette along South Street. South Street eventually turns into SR26E, the region’s most desired retail corridor and the busiest Interstate 65 interchange in the area. The subject property is an important redevelopment site for downtown Lafayette and is within an Opportunity Zone.
The subject property is in downtown Lafayette and just moments from Purdue University. The area is vibrant and bustling with restaurants, bars, a beautifully restored historic Main Street which is home to many outdoor festivals, locally owned businesses, and many desirable housing options. Surrounding the subject property, one will find housing rental rates and occupancy rates amongst the highest in the MSA. To the northeast of the subject property is a planned $50,000,000 redevelopment of what is referred to as the John Purdue Block. Construction could start in 2024. Other prominent and successful recent developments in downtown Lafayette include Nova Tower, The Press Apartments, Luna Apartments, Pullman Station, Ellsworth, and more.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,459 SF
Building Class
B
Year Built
2002
Price
$2,495,000
Price Per SF
$334
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.21
Lot Size
0.80 AC
Opportunity Zone
Yes
Zoning
CB - Central Business District
Frontage
137 FT on South Street
Walk Score®
Very Walkable (84)

NEARBY MAJOR RETAILERS

Anytime Fitness
Fifth Third Bank
Horizon Bank
Regions Bank
Centier Bank
Old National Bank
1st Source Bank
Kokoro
First Merchants Bank
Starbucks

PROPERTY TAXES

  • Listing ID: 32407232

  • Date on Market: 7/10/2024

  • Last Updated:

  • Address: 53 S 2nd St, Lafayette, IN 47901