This prime restaurant and retail space in Lowell offers three parcels totaling 0.88 acres with over 4,000 sq ft of fully equipped, turn-key restaurant and bar space!! Located just steps away from an exciting new city park development, which will feature an outdoor amphitheater, community building, splash pad, playground, and more, this property is positioned for high foot traffic and strong community engagement. The space includes a complete commercial kitchen, a full bar + equipment, a spacious dining area with booths, and a valuable 3-way liquor license, all set for immediate operation!!! With taxes under $10k per year and ample parking, this versatile property offers great potential for a variety of uses, whether as a casual dining spot, upscale restaurant, or event venue. Lowell is a thriving community, making this an ideal opportunity for entrepreneurs or investors looking to capitalize on a rapidly developing area!!
Perfect Retail location with High traffic volume, in a growing community. Rare Opportunity to own Two buildings located in the B2 District on Lowell's main commercial corridor, near major retailers. The Larger Parcel is 7560 sq ft and was the former Advance Auto Parts. The other parcel is leased by the Subway and is 1560 sq ft. Please don't hesitate to ask any questions.
The numbers herein don't lie - and the return on your money is not only STRONG - Its one of the best Ive seen with expanded use in the coming future. [I/R=V] : Rents Annual 48,000, Tax Annual 5,896, Insurance Annual 2,250 = Net MONTHLY Income $39,854 (This does not factor in an estimated annual budget for maintenance & repair and basically since all systems, roof & mechanicals are dialed in and for the most part have a LONG LONG life left: AGE: Roof 10+/-, AC 3-4, Boiler 15+/-, PAVED Lot NEW 2020) An investor will NO DOUBT and should factor that in but for now will leave it as a middle of the road base line scenario. NET ANNUAL INCOME=$478,248 and using the 10% rule for value for JUST the building WITHOUT any future increases (triple net here so you wont go down due to those expenses) is $480,000. And based on a bank appraisals INCOME APPROACH its very similar at $500,000. AS FOR THE EXTRA ACREAGE - even harder to find since SO FEW like places left along Commercial / State Rd 2 let alone w/entry access. The LOT ONLY portion of this package has 148'F/ 339'D which is 1.15 Acres VS O'Reilly's Auto Parts across the street having 258'F / 300' D and1.77 Acres that SOLD 2015 for 260K. A great comp since nothing like it LOCATION specific but there are a couple of the next most recent that incl Dunkin' Donuts w/tiny frontage of 100' / 222' for .51 Acre & SOLD for 250K in 2021 and then Taco Bell's Lot 158' / 175' .63 Acre SOLD for 300K in 2023 - JUST Sampling the 3 its clear the lots are selling for FAR more but for FAR less SF and simply taking the avg frontage @ $1,569 plf the xtra lot easily falls in the $232,000+ realm - and that's before factoring the access f/Commercial AND The West side parking lot of the current building. LOADS of expansion options, strip malls + stand alones. So VERY conservatively speaking a $712,000 value is substantiated - BUT, this is a complete package sale for $650,000 and set to move AS IS 2024 + 3 yr lease in place until January'27.
Current Leased restaurant location with 1540 SF at 108 W Commercial Ave with Multi year lease, newer plumbing throughout and recently remodeled interior. Office/Single Family building at 116 W Commercial Ave rented month to month with 2000 SF was remodeled in the last 10 years with a full bath & flooring on 2nd story. Tenants are responsible for all utilities & carry renters' insurance. Many possibilities with these properties as there is a vacant lot & side road for additional parking. Investor just needs some vision for what could be here considering the growth in the Lowell community. Property being sold AS-IS, seller to do no repairs.
Albert Wright Page, License RB14038157, Xome Inc., License RC51300094, [email protected], 844-400-XOME (9663), 4471 North Billman Estates, Shelbyville, IN 46176
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Lowell is located in Indiana. Lowell, Indiana has a population of 10,569. Lowell is more family-centric than the surrounding county with 42.79% of the households containing married families with children. The county average for households married with children is 27.11%.
The median household income in Lowell, Indiana is $71,463. The median household income for the surrounding county is $62,052 compared to the national median of $69,021. The median age of people living in Lowell is 37.5 years.
The average high temperature in July is 83.6 degrees, with an average low temperature in January of 15.6 degrees. The average rainfall is approximately 39.6 inches per year, with 23.5 inches of snow per year.
