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Listed by Justin Lowe • Ellsbury Commerical Group
$575,000
Est. payment /mo
3,300 SqFt
New
101 W Washington ST Thorntown, IN 46071
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Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 3,300 sqft
Price per Sqft $174
MLS Listing ID 22047381
Year Built 1972
Tax Year 2024
Lot Size 10,018 Sqft
Acres 0.23
Property Sub-Type Multi-Family 5+
Property Description
Ellsbury Group is excited to offer Thorntown Village Apartments, a compelling value-add investment opportunity located in the thriving Boone County, Indiana market. Boone County is experiencing robust market growth, evidenced by a 13% increase in median sales prices year-over-year. The multifamily rental market, especially in nearby areas like Zionsville, Whitestown, and Lebanon, shows strong demand and increasing rental rates. Currently, 2-bedroom apartments in the region command average rents of $1,135 - $2,695, signaling significant upside potential for this property. This opportunity is further bolstered by the LEAP Project, Indiana's ambitious initiative to become a leader in advanced industries. The LEAP Project, while large-scale, promises significant economic growth and job creation within Boone County, driving long-term demand for housing. To ensure minimal disruption for current tenants, property tours will be conducted once a month, with only one unit shown until the property is under contract. Link to Leap Project: https://iedc.in.gov/leap-lebanon
Location
State IN
County Boone
Zoning MultiFamily 4-19
Rooms
Basement Finished
Interior
Heating Electric, Baseboard
Cooling Wall Unit(s)
Fireplace N
Exterior
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Building
Story One
Structure Type Brick
New Construction false
Schools
School District Western Boone Co Com Sch Dist
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