3522 S Us Highway 31 Road

    Franklin, IN 46131
    • $495,000
    • STATUS: Active
    • ON SITE: 314 days
    • MLS #: 21610593
    Price Reduced
    UPDATED: 26 min ago
    $495,000
    • 0
      BEDS
    • 5.7
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1942
    County:

    School Ratings & Info

    School District:

    Description

    Outstanding INVESTMENT Opportunity on Busy US 31 in Franklin on 5.7 Acre Lot. "Desperation Depot" Bar & Grill along w MOTEL (8 units) & 2story Home (duplex). Property generates over $100,000/year in rent. Owner selling only because of relocating out-of-state. Motel Units are remodeled and in great shape. Laundry onsite. Bar w/ Apartment Above & Has New Siding & Roof. Motel w/ New Wiring/Plumbing & New Roof - Apartments $205/week. Leases are renewing in November, 2018. Bar lessor pays $1600/month. $165 x 4 units/week - $175 x 4 units/week. Owner Pays Utilities. Great highway visibility and location.

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    © 2019 Metropolitan Indianapolis Board of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the BLC® listing service or The Star Team | RE/MAX Realty Group.
    www.thestarhometeam.com/homes/90003554

    3522 S Us Highway 31 Road Franklin, IN 46131

    • Price: $495,000
    • Status: Active
    • Updated: 26 min ago
    • MLS #: 21610593
    0
    Beds
    0
    Baths
    0
    ½ Baths
    5.7
    Acres
    1942
    Built
    Neighborhood:
    No Subdivision
    County:
    Johnson
    Area:
    4109 - Johnson - Blue River
    School District:
    Franklin Community
    Property Description
    Outstanding INVESTMENT Opportunity on Busy US 31 in Franklin on 5.7 Acre Lot. "Desperation Depot" Bar & Grill along w MOTEL (8 units) & 2story Home (duplex). Property generates over $100,000/year in rent. Owner selling only because of relocating out-of-state. Motel Units are remodeled and in great shape. Laundry onsite. Bar w/ Apartment Above & Has New Siding & Roof. Motel w/ New Wiring/Plumbing & New Roof - Apartments $205/week. Leases are renewing in November, 2018. Bar lessor pays $1600/month. $165 x 4 units/week - $175 x 4 units/week. Owner Pays Utilities. Great highway visibility and location.
    Exterior Features

    Exterior Other Lifestyles Double/Duplex Lot Information Access StreetNot In SubdivisionTree Mature Lot Size 572X496 Road Access Seeremarks Roof Shingle Unit Parking Paved Area

    Interior Features

    Baths Total 0.00 Building Information Other HVAC Gas Central Air Laundry Common Rooms Total 0 Square Foot Main Upper 0

    Property Features

    Building Utilities ElectricWellSeptic System Contingency Act With No Contingency Conversion No Direct Soliciting No Disclosures Not Applicable Expenses 0 Gross Operating Income 0 Gross Potential Income 80000 Inspection Warranties Not Applicable Investment Yes Net Operating Income 59200 New Construction No Other Disclosures Not Applicable Possession Atclosing Present Use Commmulten Property Sub Type 1-4 Units Residential Proposed Use Commmulten Semi Annual Property Tax Amount 2095 Tax Exemption None Tenant Pays Other Township Blue River Transaction Type Sale Unit Count 0 Zoning Bus

    Listing provided courtesy of Jeff Paxson Team. © 2019 Metropolitan Indianapolis Board of REALTORS®. Information Deemed Reliable But Not Guaranteed.


    © 2019 Metropolitan Indianapolis Board of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the BLC® listing service or The Star Team | RE/MAX Realty Group.
     
    The Star Team | RE/MAX Realty Group
    1797 N. State Street
    Greenfield IN, 46140