Property Listing No Longer Available for Sale

2700 SR-261, Newburgh, IN

Retail for Sale - $299,000 - 9,880 Sq. Ft. on 0.85 acres


Property Info

CIMLS#1055018
Location
  2700 SR-261
  Newburgh IN 47629
UpdatedAugust 13th, 2019
TypeRetail
Price$299,000
Building9,880 Sq. Ft.
Land0.85 acres

Property Description

Located on IN-261 near Castle High School.

Ideal for retail or storage facility.

Great visibility and high traffic location.

Currently Paradise Organics grocery store and 29-unit self-storage

facility. Both businesses still in operation.

Self-storage business has not been aggressively marketed in the past. Approximately 50% of the units are currently leased.

Self-storage income potential is $1345 per month if fully leased, based on current lease rates.

Billboard on property generates $1000 per year.

New public sewer installed in 2003 at a cost of approximately $25,000.

Approximately 15 freezers located in the grocery.

Large walk-in cooler located in the grocery.

2 new HVAC units installed within the past 2 years.

Some roof repairs needed in self-storage area.


Financials