221 Main StGreenwood, IN 46142

For Sale
$749,900

High-return retail investment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
91
This 2,660 square foot storefront at 221 W. Main Street, Greenwood, IN 46142, is a prime retail investment property boasting a 6.27% cap rate and a $47,000 NOI. Completely remodeled in 2020, this two-story building features exposed brick, a new roof, updated HVAC, new flooring and windows, a remodeled upstairs kitchen and bathroom, and a large rear deck. Located in the heart of downtown Greenwood's Waterfront District, it benefits from excellent visibility and convenient parking within 200 feet. The ground floor currently houses a thriving coffee shop with a liquor license, a Greenwood staple. The second floor offers versatile space, ideal for office use, with the option for the seller to lease it back. The property sits on a 0.05-acre lot (APN: 41-02-32-042-019.000-026) and is zoned OT. Asking price is $749,900 ($281.92/sq ft). This is a strong addition to any investment portfolio. The building's exterior was also enhanced by a facade grant.

Highlights

  • Prime Main Street location in Greenwood's downtown core, offering excellent visibility.
  • Completely renovated in 2020, including a facade grant-funded exterior remodel.
  • Features exposed brick, new roof, HVAC, flooring, windows, kitchen, and bathroom. Includes a large rear deck.
  • Situated in the Greenwood Waterfront District with parking within 200 feet.
  • Ground floor features a thriving, licensed coffee shop, a local favorite.
  • Second floor offers flexible use; buyer occupancy or leaseback option available.

Property Details for 221 Main St

Property type
Other retail properties, Individual retail properties
Square Feet
2,660 SF
Year Renovated
2020
Buildings
1
Stories
2
Lot Size (sq. ft)
2,178 SF

Location Insight

City
Greenwood
County
Johnson
State
Indiana
Latitude
39.6135198
Longitude
-86.1090243
221 Main St, Greenwood, Indiana

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221 Main St
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