107, 109, 111 Market Street

Description

Great redevelopment opportunity in the heart of Downtown Nappanee. Located on the Southeast corner of Market St and Main St, this two story mixed-use building features 5 retail/office spaces on the ground level and approximately 7,700 sqft of potential residential space on the second floor with 14 foot ceilings. 3 of 5 retail/office spaces are occupied and cash-flowing, with annual revenues of $39,300, including one second-story 3-bed 1-bath apartment which is also occupied. This building presents an investor the opportunity to redevelop the second story into 8-12 apartments and increase NOI significantly. Located a short distance from several new restaurants, bars and breweries, new apartments would be well situated to attract tenants. Comparable upper-market apartments are renting for $1,200 for 2-beds.