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256 S Mami St

4,752 SF 100% Leased Retail Building Wabash, IN 46992 $561,690 CAD ($118 CAD/SF) 12.86% Cap Rate

Investment Highlights

  • Downtown Wabash
  • Fully Renovated

Executive Summary

Ready to own your piece of Downtown Wabash? Now is your chance, as this beautifully renovated downtown building is for sale! The downstairs is currently set up for operation as a restaurant space while there are two upstairs rental units that are being ran as month-to-month furnished rentals. There have been countless upgrades to the property over the past few years, including but not limited to interior updates of a new tankless water heater, furnace, electric, fire alarms and exit signs, lighting, paint, flooring, gas line and meter, and exterior updates of painting, waterproofing, and tuck pointing the building. One wing of the restaurant currently has built in bar seating, obtaining a liquor license could allow you to grow income even further. The upstairs units could be kept at month-to-month units, or easily converted back to traditional rental units. This building would be an awesome opportunity for an investor looking to add to their portfolio, or an aspiring business operator wanting to take that next leap! Owners willing to sell on contract for the right buyers/terms.

Attachments

T12 Rents

Financial Summary (Actual - 2024) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual -
Annual Per SF -
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual $99,999
Annual Per SF $9.99
Operating Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,752 SF
Building Class
C
Year Built
1960
Price
$561,690 CAD
Price Per SF
$118 CAD
Cap Rate
12.86%
NOI
$72,236 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.05 AC

Nearby Major Retailers

CrossFit
The YMCA
First Merchants Bank
Scooter's Coffeehouse

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
85-14-11-304-223.000-009
Land Assessment
$10,433 CAD (2023)
Improvements Assessment
$186,248 CAD (2023)
Total Assessment
$196,681 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
  • Listing ID: 33108074

  • Date on Market: 2024-09-09

  • Last Updated:

  • Address: 256 S Mami St, Wabash, IN 46992

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