2817 Highway Avenue, Highland, IN 46322 (MLS# 508023)

2817 Highway Avenue, Highland, IN 46322

$500,000

Property Type: Commercial Sale Square Footage: 8,256 Lot Size (sq. ft.): 7,056 Status: Closed

Current Price: $500,000 List Date: 2/24/2022 Last Modified: 2/24/2024

Overview

Description

Mixed use building in downtown Highland with 6,048SF Commercial space on main level and 3 fully rented apartments (Two 1 Bedroom & One 2 Bedroom) on the upper level. Main Level has approx 2208SF Office/Professional space with 8 offices, Reception area, Conference Room, File Room, Storage area and 2 Bathrooms + approx 3840SF of Shop/Warehouse space. There are 8 dedicated Parking spaces in the rear of building and Public street parking in the front of the building; Roof is 4 years old. Great location to locate a business with income from the apartments or lease the entire main floor. Main floor is currently occupied by owners business; business is moving to a new location. Note: There are 2 PIN's: 45-07-21-404-018.000-026 + 45-07-21-404-005.000-026

Listing Details MLS# 508023

General Property Information

Living Area: 8256
Building Area Source: Assessor
Year Built: 1949
Lot Size Acres: 0.162
Lot Size Square Feet: 7056
Lot Size Dimensions: 48 x 82 + 48 x 65
Stories: 2

Property Features

Building Features: Acoustical Ceiling(s); Business District Location; Meeting Room; Mixed Use; Multi Tenant; Private Restrooms; Sheet Rock Ceiling(s); Other Construction Materials: Block; Brick; Concrete Cooling: Central Air; Zoned Current Use: Mixed Use; Office; Retail; Warehouse Electric: 200+ Amp Service Flooring: Carpet; Concrete; Vinyl; Other Foundation Details: Concrete Perimeter Heating: Forced Air; Natural Gas; Zoned Interior Features: Elevator Listing Terms: Cash; Conventional Parking Features: Lighted; Paved; Private Possession: Subject To Tenant Rights Possible Use: Commercial; Medical/Dental; Office; Retail Rail Availability: None Road Frontage Type: City Street Roof: Flat; Rubber Security Features: Fire Sprinkler System Tenant Pays: None Utilities: Cable Available; Electricity Available; Electricity Connected; Natural Gas Available; Natural Gas Connected Water Source: Public Showing Requirements: 24 Hour Notice

Contract Information

Auction YN: No
Original List Price: 775000
Property Sub Type: Office
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant

Location Tax and Legal

Street Number: 2817
Street Name: Highway
Street Suffix: Avenue
County: Lake
State: IN
Postal Code: 46322
Subdivision Name: Highland

Remarks and Miscellaneous

Public Remarks: Mixed use building in downtown Highland with 6,048SF Commercial space on main level and 3 fully rented apartments (Two 1 Bedroom & One 2 Bedroom) on the upper level. Main Level has approx 2208SF Office/Professional space with 8 offices, Reception area, Conference Room, File Room, Storage area and 2 Bathrooms + approx 3840SF of Shop/Warehouse space. There are 8 dedicated Parking spaces in the rear of building and Public street parking in the front of the building; Roof is 4 years old. Great location to locate a business with income from the apartments or lease the entire main floor. Main floor is currently occupied by owners business; business is moving to a new location. Note: There are 2 PIN's: 45-07-21-404-018.000-026 + 45-07-21-404-005.000-026

Status Change Information

Major Change Timestamp: 2024-02-18T02:07:42Z
Major Change Type: Price Reduced
Price Change Timestamp: 2024-02-18T02:07:42Z
Status Change Timestamp: 2022-07-28
Offer Acceptance Date: 2022-07-10
Close Date: 2022-07-28
Close Price: 500000
Concessions: No
Buyer Financing: Cash

More Information

Building Features

Building Dimensions: 48x82
Number of Offices: 9
Office SqFt: 2208
Acoustical Ceiling(s): Yes
Business District Location: Yes
Meeting Room: Yes
Mixed Use: Yes
Multi Tenant: Yes
Private Restrooms: Yes
Sheet Rock Ceiling(s): Yes
Other: Yes

Exemption Information

Exemption YN: Y

Income and Expenses

Electric Expense: 3660
Expense Year: 2021
Gross Scheduled Income: 79500
Insurance Expense: 2507
Net Operating Income: 62297
New Taxes Expense: 4789
Professional Management Expense: 2597
Total Actual Rent: 79500
Trash Expense: 3200
Gross Income: 0
Maintenance Expense: 0
Manager Expense: 0
Other Expense: 0
Sewer Expense: 0
Supplies Expense: 0
Water Expense: 0

Showing Requirements

Showing Instructions: use showing assist. 24 hour notice requested due to tenants
24 Hour Notice: Yes

Historical Information

Public Historical Remarks: Utilities: On, Parking: Public Parking, Roof Coverings: Reflective Coating, Fire Protect: Fire Extinguishers

Location, Tax, and Legal

Postal Code +4: 1676
Tax Legal Description: Legal Description: Highland L.21 BL.13
Parcel Number: 450721404018000026
Township: North
Directions: Ridge Road East of Indianapolis/41 to Fifth Street, North to Highway Ave, West to 2817 Highway

Construction Materials

Block: Yes
Brick: Yes
Concrete: Yes

Cooling

Central Air: Yes
Zoned: Yes

Electric

200+ Amp Service: Yes

Flooring

Carpet: Yes
Concrete: Yes
Vinyl: Yes
Other: Yes

Foundation Details

Concrete Perimeter: Yes

Heating

Forced Air: Yes
Natural Gas: Yes
Zoned: Yes

Interior Features

Elevator: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Parking Features

Lighted: Yes
Paved: Yes
Private: Yes

Possession

Subject To Tenant Rights: Yes

Road Frontage Type

City Street: Yes

Roof

Flat: Yes
Rubber: Yes

Security Features

Fire Sprinkler System: Yes

Utilities

Cable Available: Yes
Electricity Available: Yes
Electricity Connected: Yes
Natural Gas Available: Yes
Natural Gas Connected: Yes

Water Source

Public: Yes

Auction

Minimum Opening Bid: 0
Buyer Premium Amount: 0

Tenant Pays

None: Yes

Current Use

Mixed Use: Yes
Office: Yes
Retail: Yes
Warehouse: Yes

Possible Use

Commercial: Yes
Medical/Dental: Yes
Office: Yes
Retail: Yes

Rail Availability

None: Yes

Listing Office: Evers Realty Group

Last Updated: February - 24 - 2024

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