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$ 125,000
Est. payment /mo
Active
1114 N Fox Ridge Links Drive Vincennes, IN 47591
6,185 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other/Unknown
Listing Status Active
Purchase Type For Sale
Subdivision Fox Ridge Links
MLS Listing ID 202622466
Year Built 2009
Annual Tax Amount $1,260
Lot Size 6,185 Sqft
Property Sub-Type Other/Unknown
Property Description
This well-maintained five-unit storage building offers a solid income-producing opportunity within the established Fox Ridge community. Each unit contains approximately 312 square feet, providing versatile storage solutions for tenants or personal use. The property currently demonstrates strong occupancy, with four of the five units in use. Two units are secured under one-year leases paid in advance, while one unit is leased on a month-to-month basis, offering both stability and flexibility in rental income. One unit is presently vacant, allowing opportunity for immediate additional revenue or owner use. The building generates consistent rental income, with units renting for $170 per month, equating to $2,040 annually per leased unit. Operating expenses are predictable and manageable. Association dues are $900 annually, billed quarterly. Additional costs include building shell insurance and utilities, with property taxes paid current. The storage building is governed by the Fox Ridge Condominium Association declarations and by-laws, ensuring uniform standards for maintenance and operation. Notably, the property operates independently without affiliation to Lakeview One, LLC and is not subject to LVO dues or assessments. This property presents a low-maintenance investment with reliable cash flow potential, ideal for investors seeking stable income or an owner-user needing secure storage space with supplemental rental income.
Location
State IN
County Knox County
Area Knox County
Direction North on 6th St. Right on Old Wheatland Road, continue onto Bruceville Road. Turn right onto Hillcrest Rd. .2 miles to Fox Ridge Drive.
Interior
Flooring Concrete
Appliance Building
Laundry , 5
Exterior
Roof Type Asphalt
Total Parking Spaces 5
Building
Story 1
New Construction No
Others
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202622466
IDX information provided by the Indiana Regional MLS
Listed by Beth Meeks • Meeks Real Estate Inc. • Cell: 812-291-4000