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Monica Proenza

monica.proenza@exprealty.com +1(812) 558-6941

Listed by Keller Williams Lafayette

$ 399,000

Est. payment -/mo

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Active

12150 N US HWY 421 *** Monticello, IN 47960

2 Baths

0.33 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID IRM202614859

HOA Y/N No

Year Built 1974

Annual Tax Amount $2,159

Tax Year 2026

Lot Size 0.330 Acres

Acres 0.33

Lot Dimensions 100x125

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

Rooms

Basement Slab

Interior

Heating Forced Air

Inclusions Building, Land, Lease

Fireplace N

Exterior

Parking Features Paved

Fence Chain Link, Partial

Waterfront Description None

View Y/N true

Total Parking Spaces 18

Building

Sewer Public Sewer

Water City

New Construction No

Others

Pets Allowed No

Tax ID 08-04-03-000-232.000-011

Acceptable Financing IRM202614859

Listing Terms IRM202614859

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/irmls/202614859

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