Renovation Started- Historic Bldg Crothersville IN

Retail-Commercial for Sale
Catylist Listing ID: 30034712
Property Subtypes: Free-Standing Building, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 4,060 SF
Sale Price: $69,500
Unit Price: $17.12 PSF
Property Use Type: Vacant/Owner-User
Building Name: Crothersville Odd Fellows Lodge
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/4/2017

Overview / Comments

This historical and prominent corner in Crothersville had once served as the Odd Fellows Lodge. The address is 121 E. Howard Street, Crothersville, Indiana.
Highly visible corner of US 31 and Howard Street. This two story brick commercial building was constructed in 1891 and originally housed an apothecary/pharmacy on the first floor and the local Odd Fellows Lodge on the second floor. Indiana Landmarks took ownership of the building in November 2015 and embarked on a stabilization and exterior rehabilitation of the building. That including selective masonry repointing, roof repairs, new guttering system, window restoration, storefront repairs, cornice work, exterior painting, and internal structural repairs. With approximately 3,300 square feet of usable space and a storefront on both Hwy 31 and Howard Street. This corner building sets at a main 4 way traffic light and offers a great opportunity for a live-work arrangement with retail or office use on the first floor and upstairs residential unit(s) or event hall use. Conceptual architectural plans are available to show how the second floor can be converted to a single residential unit or up to three efficiency apartments.
The building will be sold subject to preservation covenants held by Indiana Landmarks governing exterior improvements and requiring retention of significant interior architectural details such as the pressed metal ceiling and woodwork.
Interested in owning and preserving one of Crothersvilles more historically noted buildings, here's your chance. The buyer for this property can get a lot of building and they can make it their own. A suitable buyer needs to have access and/or ability to bring in contractors to finish the space for tenants as it needs all mechanicals updated to code. However when completed, what a place it will be.

Additional Details

Nearest MSA: Seymour
County: Jackson
Tax ID/APN: 36-46-10-403-067.000-016
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business
Property Located Between: At Howard Street and Hwy 31
Property Visibility: Excellent
Largest Nearby Street: Hwy 31
Highway Access: It is on Hwy 31 which runs form up toward Columbus to Clarksville in Southern Indiana
Airports: Clark County and Louisville International Airport
Site Description: What a fantastic opportunity to have 1,2 3 or 4 tenants. Living space on the 2nd floor and first floor can be restaurant, retail or business offices. Original building features include a pressed metal ceiling in the main first floor space, original cast iron and wood storefronts, color glass Queen Anne style storefront transom windows, and original interior wood trim with distinctive “bull’s eye” corner blocks. Two monumental historic landscape paintings on canvas survive from the Odd Fellows Lodge and are displayed in and included with the building.
Area Description: Small Town USA- Crothersville is a town of approximately 1,600 people located in southern Jackson County approximately 40 miles north of Louisville, KY, and 10 miles south of Seymour. The town is conveniently located on the I-65 corridor.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,030 SF
Property Condition: Average
Year Built: 1891
Year Renovated: 2016
Construction/Siding: Brick
Exterior Description: Typical of the period this building has many of its original building features that include pressed metal ceiling, original cast iron and wood storefronts, color glass Queen Anne style storefront transom windows, and original interior wood trim with distinctive “bull’s eye” corner blocks. Two monumental historic landscape paintings on canvas survive from the Odd Fellows Lodge and are displayed in and included with the building.
Parking Type: Surface
Parking Description: Free street parking
Sprinklers: None
Interior Description: Interior needs some plaster work. In some of the historic building people have simply used thin drywall and covered up the cracked plaster. Others remove the plaster and expose the bricks.
Zoning Description: Downtown Commercial
Water Service: Municipal
Sewer Type: Municipal
Easements: Preservation
Easements Description: Though most would not have an issue with the preservation, it is important to note that the building will be sold subject to preservation covenants held by Indiana Landmarks governing exterior improvements and requiring retention of significant interior architectural details such as the pressed metal ceiling and woodwork.
Land Ownership: Indiana Landmarks
Legal Description: ORIG PT LOT 24

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,528 3,431 9,904
Median Age: 39.4 39.34 39.28
Households: 982 1,311 3,806
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