Remarks

SPECTACULAR AND RARE OPPORTUNITY TO OWN A CITY BLOCK IN GROWING BATESVILLE, INDIANA & 82,000+ SQUARE FEET OF INCOME PRODUCING PROPERTY AT 10% OF REPLACEMENT COST! This property offers a variety of areas including a renovated boutique hotel (22 rooms), a premier restaurant with adjoining bar, a 7,200 square foot Bier Hall with rare 50 foot copper topped bar, an outdoor Biergarten venue, a huge banquet room with capacity for 120 guest, two separate dining / conference rooms (capacity of 25 & 12), a retail space currently occupied by tenant, and a 21,000+ square foot warehouse with 3 levels & endless possibilities to monetize! The 22 room boutique hotel has been accepted into the Historic Hotels of America. Just some of the recent improvements include: new roof and gutters, upgraded electrical, new airflow systems, new lighting, new windows, complete renovations of restrooms, addition of custom bar, replacement of 95% of exterior Tudor trim, restoration of all stucco, new signage, and new flooring & paint throughout much of the property. Over 82,000 total square feet broken down as follows: First floor Sherman House: 13,876 sq ft, first floor factory: 7,859 sq ft, first floor visitors center: 1,746 sq ft, Second floor Sherman House: 10,320 sq ft, second floor factory: 9,612 sq ft, third floor factory: 12,239 sq ft, fourth floor factory: 11,847 sq ft, basement Sherman House 6,760 sq ft, Basement factory: 6,689 sq ft. Total sq ft Sherman House: 32,702 sq ft. Total Factory sq ft: 48,246 sq ft. Visitors Center: 1,746 sq ft. Total facility: 82,694 square feet. Batesville is conveniently located near metropolitan areas of Indianapolis, Cincinnati, Dayton, and Louisville with an attractive average household income of $85K+ a year. This is truly once in a lifetime opportunity to bring a historic property to it's highest and best use! Property is priced at less than $21 per square foot...hurry!

Details

MLS#: 22024594
Price: $1,695,000

Style: Warehouse
Sq Ft: 82694
Year Built: 1920

County: Ripley
Tax Fee: 55630.0

School Elementary: Batesville Primary School
School Middle: Batesville Middle School
School High: Batesville High School
School District: Batesville Community School Corp