Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1621 S 350 E Bluffton, IN 46714

    Sponsored
    For Lease
    $5 SF/Yr ($7,973 /Mo)

    Special Purpose, Other - Bluffton, IN

    Property size:
    19,136 SF
    Lot size:
    7.00 Acres
    Days on Market:
    162
    Last Refresh:
    Jan 20 at 10:06 am

    Property Features for 1621 S 350 E

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Kitchen, Office
    APN
    90-08-10-400-012.000-003
    Parking
    75
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, Handicap Access, Locker/Change Room, Office Space, Reception Area
    Exterior features
    Fence
    Fencing
    Fenced
    Accessibility
    Accessible Approach with Ramp
    Size
    19,136 SF
    Lot size
    7.00 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1981
    Floors in Building
    2
    Flooring type
    Carpet, Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Isaac Stoller
    Isaac Stoller

    Steffen Group (260) 824-3006

    Listing agent Isaac Stoller (260) 824-3006 License #RB14048493

    Listing date Aug 12, 2025

    MLS# 202516223 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Educational Facility with Gym

    Up to 19,000 square feet is available in this versatile educational facility. Formerly a daycare and preschool, the well-maintained building is located behind Grace Baptist Church. It features a functional layout suitable for educational, childcare, community, or ministry use. The property includes 6 classrooms, 4 bathrooms, a full kitchen, and 2 main-floor office rooms, with an additional 2 office spaces on the second level. A full-size gym provides a multi-purpose area for recreation or large gatherings. Outside, there is a large fenced-in playground and ample parking available Monday through Saturday. The property is located in Bluffton, IN, in Wells County, and sits on a 7-acre lot. This property is ready to serve school, daycare, community, or ministry needs with room to grow.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Schools

    Suggested Use

    Restaurant Realty agency Wholesale Shop Auto Repair Shop Clothing Store Hotel & Motel Gym & Fitness Auto Parts Store Department Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bluffton
    County
    Wells
    State
    Indiana
    Longitude
    -85.153794142189
    Latitude
    40.719017500228

    Nearby Similar for Lease

    • $10 SF/Yr
      17,962 SF

      Dutch Mill Landing Office Suites

      Bluffton, IN office space available.
      360 Main St, Bluffton, IN 46714
      View Details
    • $3 SF/Yr
      85,588 SF

      Bluffton Industrial Space For Lease

      85,588 SF Warehouse/Manufacturing Space
      130 Harvest Rd, Bluffton, IN 46714
      View Details
    • $10 SF/Yr
      8,578 SF

      Bluffton Office Space Available

      Two-story office space with private offices and open workspaces.
      3140 E State Road 124, Bluffton, IN 46714
      View Details
    • $10 SF/Yr
      2,021 SF

      Retail Space in Landmark Location

      Retail suites available in highly visible Bluffton location.
      370 N Main St, Bluffton, IN 46714
      View Details
    • $3 SF/Yr
      59,972 SF

      Bluffton Warehouse and Industrial Space

      59,972 SF warehouse/industrial space in Bluffton, Indiana for lease.
      200 E Spring St, Bluffton, IN 46714
      View Details

    FAQs

    What type of property is this?
    School - Former daycare/preschool with gym, classrooms, offices, and playground.
    Where is this school located?
    The property is located at 1621 S 350 E Bluffton, IN.
    What is the lease rate?
    The lease rate is $5 SF/Yr.
    What are key features of this property?
    This property features: - Up to 19,000 sq. ft. versatile space suitable for educational, childcare, community, or ministry use.; - Includes a **full-size gym** for recreation or large gatherings.; - Features 6 classrooms, 4 bathrooms, a full kitchen, and 4 office spaces.
    (260) 413-3515
    Request Owner's contact information
    1621 S 350 E Bluffton, IN 46714
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1621 S 350 E
    Bluffton, IN 46714
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1621 S 350 E Bluffton, IN 46714
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Isaac Stoller
    Isaac Stoller
    Real Estate License ID: RB14048493
    (260) 413-3515
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.