316 S Cavin St 5,456 SF 65% Leased Retail Building Ligonier, IN 46767 For Sale

This mixed-use property in the heart of downtown Ligonier offers investors an opportunity to acquire a fully-leased building generating rental income upon purchase. The main level provides a commercial storefront of 1,926 sq. ft., currently adaptable for multiple retail or dining concepts. With prior infrastructure for a restaurant—including range hood wiring, plumbing, and on-demand water heating—the space is poised for future tenant conversions. Upstairs, two residential apartments (one 1-bedroom and one 2-bedroom) enhance income diversity and long-term stability. Many updates have been completed, including mini split A/C systems, flooring improvements, and appliance packages in each unit. Situated on a compact 0.08-acre parcel with public utilities, the asset is located within walking distance of neighborhood retail, dining establishments, and essential services in the downtown corridor. This property represents a favorable blend of immediate income and value-add potential for buyers seeking exposure in a growing Northern Indiana community.