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Listed by Steven Childers • Keller Williams Lafayette • Agt: 765-413-6046
$ 439,000
Est. payment /mo
Active
12150 N US HWY 421 Monticello, IN 47960
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202614859
Year Built 1974
Annual Tax Amount $2,159
Tax Year 2026
Lot Size 0.330 Acres
Property Sub-Type Retail
Property Description
Fully leased, income-producing multi-tenant retail property located along US Hwy 421 in Monticello, serving both local traffic and strong seasonal demand from nearby lakes and attractions. The property consists of approximately 4,376 SF across three suites (Units A, B, and C), all secured with leases through 1/1/2028. The property generates total gross rental income of $3,200 per month ($38,400 annually). Tenants reimburse their share of utilities and operating expenses, allocated at 40% (Units A and B) and 20% (Unit C). These expenses—including gas/electric, sewer, trash, internet, and exterior maintenance—are passed through to tenants, with ownership primarily responsible for taxes and insurance. The tenant mix includes a diner, bakery, and dog grooming business, all operated by established ownership, providing stable, service-based occupancy with consistent local demand. The property has undergone extensive renovations, including new roof, siding, windows, doors, electrical, plumbing, paved parking lot, and a lighted roadside sign. Interior buildout includes commercial-grade improvements, and most fixtures, equipment, and furnishings transfer with the sale. An additional adjacent parcel is available for purchase, offering future development or expansion potential. This is an ideal opportunity for investors seeking stable income with limited landlord responsibilities and future upside through rent adjustments. Contact listing broker for additional financials, lease details, and to schedule a private tour.
Location
State IN
County Carroll County
Area Carroll County
Direction North on US HWY 421 to location.
Interior
Flooring Concrete
Appliance Building, Land, Lease
Laundry , 18
Exterior
Fence Chain Link, Partial
Roof Type Shingle
Total Parking Spaces 18
Building
Story 1
New Construction No
Others
Financing Cash,Conventional
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202614859
IDX information provided by the Indiana Regional MLS