144 S Wabash St

Wabash, IN 46992

$399,000
Price
—
Beds
0.5
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
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Description

Fully leased and generating immediate income, this mixed-use investment opportunity is ideally positioned in the heart of downtown Wabash. Offering a strong in-place cash flow with additional upside potential, the property currently produces $42,120 in annual gross income, with the lower-level apartment leased at $1,160/month (with minor concessions), the upper apartment at $850/month, and the main-level commercial space at $1,500/month. The building features approximately 1,452 square feet of commercial...Fully leased and generating immediate income, this mixed-use investment opportunity is ideally positioned in the heart of downtown Wabash. Offering a strong in-place cash flow with additional upside potential, the property currently produces $42,120 in annual gross income, with the lower-level apartment leased at $1,160/month (with minor concessions), the upper apartment at $850/month, and the main-level commercial space at $1,500/month. The building features approximately 1,452 square feet of commercial space on the main level, complete with an open work area, conference room, kitchenette, and half bath, while the upper unit offers a 3-bedroom, 1-bath apartment with a private entrance, and the lower level includes a fully renovated 2-bedroom, 1-bath apartment. Significant updates completed approximately two years ago enhance the property’s appeal and reduce maintenance concerns, including updated plumbing, HVAC systems, electrical, and vinyl replacement windows throughout, along with renovations to both the lower apartment and commercial space featuring modern finishes. Each unit benefits from separate utilities and mechanical systems, contributing to a low-maintenance investment profile. With fully occupied tenancy and tenants who prefer to remain, this property provides reliable income from day one. In addition to its current performance, the property presents clear value-add opportunities. The upper apartment offers potential for increased rent with minor cosmetic updates, while the commercial space is currently below market rate, creating an opportunity to further improve net operating income. With immediate cash flow, solid fundamentals, and a straightforward path to enhanced returns, this is an exceptional investment opportunity in a prime downtown location.
  1. Listed by John Lundquist • Lundquist Appraisals & Real Estate • john@lundquistrealestate.com

Property Details for 144 South Wabash Street

Subdivision
None
Waterfront
No
LISTING UPDATED: 04/29/2026 05:07 PM

Property Details for 144 South Wabash Street

StatusActive
MLS #202608259
Days on Market64
Taxes$3,241 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMixed Use
MLS TypeCommercial / Mixed Use
Year Built1900
Lot Size0.03 AC / 1,307 SF
CountyWabash County
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Location

Listing Courtesy of Lundquist Appraisals & Real Estate
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Building Information for 144 South Wabash Street

Stories2Residences-Year Built1900Lot Size0.03 AC / 1,307 SF

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$2,279 per month

30 year fixed, 6.46% Interest

Principal and Interest

$2,009

Property Taxes

$270

HOA Dues

$0

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Property Information for 144 South Wabash Street

Summary
Location and General Information
  • Area: Wabash County
  • City: Wabash
  • Zip Code: 46992
  • State: IN
  • Township: Noble
  • Geo Latitude: 41
  • Geo Longitude: -86
  • Road Access: State
  • Fips Code: 18169
  • Directions To Property: Wabash street through Wabash building is in the first block north of Market st (down town square) across from the Museum parking lot.
Taxes and HOA
  • Annual Taxes: $3,241
  • Year Taxes Payable: 2026
  • Parcel Number Id: 85-14-11-304-113.000-009
Parking
  • Parking: Street
Property
Lot Information
  • Class: COMMERCIAL
  • Property Subtype: Mixed Use
  • Approx Lot Size Acres: 0.03
  • Lot Dimensions: 22 x 66
  • Approx Lot Size Sqft: 1307.0
Property and Assessments
  • New Construction: No
  • Year Built: 1900
  • Age: 126
  • Documents Available: Plat Map, Floor Plan, Income/Expenses, LBP Form, Owners Statement, Sellers Disclosure
  • Planned Unit Development: No
Utilities
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Exterior: Brick, Stone
  • Platted: Yes
  • Roof Material: Rubber
Interior Features
  • Basement: Yes
  • Basement/Foundation: Finished, Walk-Out Basement, Outside Entrance
  • Cooling: Central Air
  • Flooring: Carpet, Tile, Vinyl
  • Heating/Fuel: Gas, Forced Air
  • Stories: 2
Multi Family
Multi-Family Information
  • Number of Buildings: 1
Income & Expenses Information
  • Gross Monthly Rent: $3,550

Property History for 144 South Wabash Street

DateEvent & SourcePriceAppreciation
Mar 13, 2026

Price Change

Indiana Regional MLS #202608259

$425,000—
Mar 13, 2026

Listed (Active)

Indiana Regional MLS #202608259

$399,000—
Feb 10, 2021

Sold (Public Record)

Public Record #1512073023

$105,000

+15.5% / yr

DateEvent & SourcePrice
03/13/2026

Price Change

Indiana Regional MLS #202608259

$425,000
03/13/2026

Listed (Active)

Indiana Regional MLS #202608259

$399,000
02/10/2021

Sold (Public Record)

Public Record #1512073023

$105,000

+15.5% / yr

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 144 South Wabash Street

Taxable ValueLand$4,000Additions$271,300Total$275,300
Tax Record2024$6,174 ($514 / month)
Home Facts
Total Finished SqFt4,356 SqFtAbove Grade Finished SqFt4,356 SqFtStories3Lot Size1,452 SqFtStyleMulti-Family Res (5+ Units)Year Built1900CountyWABASHAPN85-14-11-304-113.000-009

Schools near 144 South Wabash Street

This home is within Wabash City Schools.
Rating
School
Type
Grades
Distance
O J Neighbours Elementary School
Public - PK to 4
Wabash Middle School
Public - 5 to 8
Wabash High School
Public - 9 to 12
Emmanuel Christian School
Private - PK to 12
Rating
School
Distance
O J Neighbours Elementary School
PublicPK to 4

Wabash Middle School
Public5 to 8

Wabash High School
Public9 to 12

Emmanuel Christian School
PrivatePK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 144 South Wabash Street, Wabash, IN 46992

144 South Wabash Street is a mixed use property for sale in Wabash, IN 46992. This property was listed for sale on March 13, 2026 by Lundquist Appraisals & Real Estate, it's currently listed at $399,000. It has been on the market for a total of 64 days and was last sold on February 10, 2021. This listing's school district is Wabash City Schools. Nearby schools include O J Neighbours Elementary School, Wabash Middle School and Wabash High School. 144 South Wabash Street is a 0-bed, 0.5-bath, mixed use property built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lundquist Appraisals & Real Estate

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.