415 Columbia St - Office CONDO FOR SALE


Lafayette, IN 47901- Downtown Lafayette
$1,250,000 USD
317-281-8811
415 Columbia St, Lafayette, IN for Sale
$1,250,000 USD
Office CONDO - FOR SALE
1/17
null | Request Cap Rate

415 Columbia St
Lafayette, IN 47901
Downtown Lafayette


HIGHLIGHTS

  • Lafayette’s central business district
  • Surrounded with new developments
  • Class A office building below replacement cost
  • Structured parking owned by the City is attached to the building and available for rent

OVERVIEW

Unit 3A, the western half of the third floor, is available for sale for an asking price of $1,250,000.  The condo is currently demised in two suites and occupied, offering a buyer an in-place projected gross income of $112,679.25.  The projected net income is $95,619.  The smaller suite, approximately 2525 sf, is leased for below market rent on a shorter-term basis with a lease featuring termination rights.  The larger suite, leased to Morgan Stanley, has remaining term and renewal options.  This purchase opportunity is perfect for an investor looking for in-place income with upside potential from leasing the smaller suite at a higher rental rate, or for an owner that intends to use the smaller suite for their own business while receiving income from the other tenant.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$171 USD /SF

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Columbia Center

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

45,496 SF

STORIES

3

BUILDING CLASS

A

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

PD

APN/PARCEL ID

79-07-20-072-004.300-004,79-07-20-467-002.900-004,79-07-20-467-006.900-004

ASK ABOUT THIS PROPERTY

Jim PitoukkasShook Commercial Real EstateMore Info
317-281-8811

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Jim PitoukkasShook Commercial Real EstateMore Info
317-281-8811

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.