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Investment Highlights

  • Downtown location - closet to events, shopping, and restaurants
  • East commercial unit will also have access to the gated courtyard and has rough-in for hood
  • Completely redone throughout

Executive Summary

Incredible investment opportunity in downtown Wabash! This exceptional offering includes two commercial units plus seven well-maintained apartments, all selling together. Whether you're looking to expand your business, launch a new venture, or secure income-producing residential units, this property delivers unmatched versatility and potential. 80 W Canal Street – This 20' x 60' commercial space is move-in ready for a new or expanding business. With large display windows, beautiful hardwood floors, and 14 ft. ceilings, the storefront offers excellent visibility and inviting character. The building is commercially sprinkled and includes a half bath, storage room, and a clean full basement—ideal for additional storage. ADA compliant. 78 W Canal Street – An impressive 123' x 19' building, currently a white-box space prepped for restaurant use and ready for your final vision. This property is also ADA compliant and equipped with a hood system, commercial sprinklers, on-demand gas heat, new PEX plumbing, and sump pumps in both basements. A full basement provides excellent storage, and alley access enhances functionality. Outside features include a custom paved courtyard—perfect for outdoor dining or entertainment—and an exterior grease pit already in place. Seven Apartments Included – All seven apartments have been thoughtfully maintained and offer open-concept layouts with spacious kitchens and living areas. Each unit is equipped with an electric range, microwave, dishwasher, and refrigerator, along with vinyl plank flooring, gas-log fireplaces, gas forced-air heat, central air, and on-demand water heaters. Mechanical rooms are located outside the units for added convenience. A shared 13' x 13' common laundry area includes three coin-operated washers and three coin-operated dryers. This is a rare opportunity to own a versatile, income-producing property in an unbeatable downtown location. These buildings not only offer the space, infrastructure, and potential to make it all happen they were completely rebuilt from the foundations up just six years ago the investor/owner spared no expense ensuring these structures were ready for another 100 years of service, You have likely not seen historic downtown buildings in literally new construction condition elsewhere, a complete breakdown of the renovation is available.

Property Facts

Price $2,043,240 CAD
Price Per Unit $227,027 CAD
Sale Type Investment
No. Units 9
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Low-Rise
Building Class B
Lot Size 0.13 AC
Building Size 8,316 SF
Average Occupancy 78%
No. Stories 3
Year Built/Renovated 1900/2017
Zoning HD - Historic Downtown. Allows commercial use on the main level and residential uses on the upper levels.

Amenities

  • Smoke Detector

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Fireplace
  • Microwave
  • Heating
  • Ceiling Fans
  • Kitchen
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Double Pane Windows
  • Island Kitchen
  • Loft Layout
  • Pantry
  • Quartz Countertops

Site Amenities

  • 24 Hour Access
  • Tenant Controlled HVAC
  • Walk-Up
  • Smoke Detector

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 9 - -
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 85-14-11-304-230.000-009
  • 85-14-11-304-229.000-009
Land Assessment
$14,711 CAD
Improvements Assessment
$656,152 CAD
Total Assessment
$670,864 CAD
  • Listing ID: 40322025

  • Date on Market: 2026-04-28

  • Last Updated:

  • Address: 78 W Canal St, Wabash, IN 46992

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