202 E 5th Street, Fowler, IN 47944 (MLS# 818685)

202 E 5th Street, Fowler, IN 47944

$575,000

Property Type: Commercial Sale Square Footage: 15,560 Lot Size (sq. ft.): 11,108 Status: Closed

Current Price: $575,000 List Date: 4/08/2025 Last Modified: 1/09/2026

Overview

Description

INVESTMENT OPPORTUNITY, PASSIVE INCOME Looking to expand your real estate portfolio? This mulit-use, 16 unit commercial property is one you will want to take a look at! With a 9 percent CAP rate, over 100K in capital improvements last calendar year, this property is an excellent addition to your real estate investments. New roof, new exterior doors, new upper deck, all in the last 90 days! Currently rented with an 81 percent occupancy rate! Increase your earning potential with a 100 percent occupancy rate! Call an agent today!

Listing Details MLS# 818685

General Property Information

Number Of Units Total: 16
Living Area: 15560
Building Area Source: Assessor
Year Built: 1900
Parking Total: 14
Lot Size Acres: 0.255
Lot Size Square Feet: 11108
Lot Size Source: Assessor
Waterfront YN: No
Basement YN: Yes
Stories: 2

Property Features

Basement: Unfinished Building Features: Balcony; Mixed Use; Multi Tenant Business Type: Professional/Office; Retail Construction Materials: Brick; Vinyl Siding Cooling: Central Air Current Use: Commercial; Mixed Use; Multi-Family; Office Electric: 100 Amp Service; Circuit Breakers Exterior Features: Balcony Flooring: Carpet; Vinyl Heating: Forced Air; Natural Gas Laundry Features: Laundry Room; Upper Level Listing Terms: Cash; Conventional Owner Pays: Common Area Maintenance; Electricity; Exterior Maintenance; Grounds Care; Insurance; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water Parking Features: Additional Parking; Gravel; Off Street; On Street Possession: Close Of Escrow; Subject To Tenant Rights Possible Use: Commercial; Mixed Use; Multi-Family; Office Rail Availability: None Roof: Other Sewer: Public Sewer Special Listing Conditions: Standard Tenant Pays: Cable TV; Electricity; Gas; Telephone Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Water Source: Public

Contract Information

Auction YN: No
Original List Price: 690000
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Owner Name: Mccammon Kenneth E
Occupant Type: Tenant

Location Tax and Legal

Street Number: 202
Street Direction Prefix: E
Street Name: 5th
Street Suffix: Street
County: Benton
State: IN
Postal Code: 47944
Subdivision Name: Fowler

Remarks and Miscellaneous

Public Remarks: INVESTMENT OPPORTUNITY, PASSIVE INCOME Looking to expand your real estate portfolio? This mulit-use, 16 unit commercial property is one you will want to take a look at! With a 9 percent CAP rate, over 100K in capital improvements last calendar year, this property is an excellent addition to your real estate investments. New roof, new exterior doors, new upper deck, all in the last 90 days! Currently rented with an 81 percent occupancy rate! Increase your earning potential with a 100 percent occupancy rate! Call an agent today!

Status Change Information

Major Change Timestamp: 2026-01-09T17:33:25Z
Major Change Type: Status Change
Price Change Timestamp: 2025-07-28T22:38:11Z
Status Change Timestamp: 2026-01-09
Offer Acceptance Date: 2025-10-24
Close Date: 2026-01-09
Close Price: 575000
Concessions: No
Buyer Financing: Cash

More Information

Building Features

Number of Offices: 4
Balcony: Yes
Mixed Use: Yes
Multi Tenant: Yes

Exemption Information

Exemption YN: No

Income and Expenses

Cap Rate: 8.5
Electric Expense: 2793
Gross Income: 93720
Insurance Expense: 4176
Maintenance Expense: 3655
Net Operating Income: 66450
Trash Expense: 1164
Water Expense: 10132

Showing Requirements

Showing Instructions: Use showing time. 48 hour notice. Storefronts will be made available for showings, as well as 2 or 3 residential units. For showings and access to all 12 residential units- Letter of Intent required.

Location, Tax, and Legal

Tax Annual Amount: 5350
Tax Year: 2023
Tax Legal Description: OP LOT 408 N 22X109 1/3 OP LOTS 409-410-411 22X132 EACH
Parcel Number: 040815223018000004
Additional Parcels YN: Yes
Additional Parcels Description: 04-08-15-223-016.000-004 OP LOT 408 N 22X109 1/3 OP LOTS 409-410-411 22X132 EACH
Township: Center
Directions: US 52 to Fifth St. East to property.

Basement

Unfinished: Yes

Construction Materials

Brick: Yes
Vinyl Siding: Yes

Cooling

Central Air: Yes

Electric

100 Amp Service: Yes
Circuit Breakers: Yes

Exterior Features

Balcony: Yes

Flooring

Carpet: Yes
Vinyl: Yes

Heating

Forced Air: Yes
Natural Gas: Yes

Laundry Features

Laundry Room: Yes
Upper Level: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Parking Features

Additional Parking: Yes
Gravel: Yes
Off Street: Yes
On Street: Yes

Possession

Close Of Escrow: Yes
Subject To Tenant Rights: Yes

Roof

Other: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Standard: Yes

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Water Source

Public: Yes

Owner Pays

Common Area Maintenance: Yes
Electricity: Yes
Exterior Maintenance: Yes
Grounds Care: Yes
Insurance: Yes
Repairs: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Gas: Yes
Telephone: Yes

Current Use

Commercial: Yes
Mixed Use: Yes
Multi-Family: Yes
Office: Yes

Possible Use

Commercial: Yes
Mixed Use: Yes
Multi-Family: Yes
Office: Yes

Business Type

Professional/Office: Yes
Retail: Yes

Rail Availability

None: Yes

Listing Office: RE/MAX Executives

Last Updated: January - 09 - 2026

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