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    215 E Van Buren St Columbia City, IN 46725

    Sponsored
    For Sale
    $495,000

    Office, Office/Showroom,Professional - Columbia City, IN

    Type:Office
    Property size:
    13,500 SF
    Lot size:
    0.94 Acres
    Days on Market:
    13
    Last Refresh:
    Feb 7 at 3:06 am

    Property Features for 215 E Van Buren St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Zoning
    CB Commercial Business
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Office
    Bathrooms
    4
    APN
    92-06-11-500-409.007-004
    Parking
    25
    Interior features
    Block, Drywall, None, Basement, Locker/Change Room, Office Space
    Exterior features
    None, Basement, Locker/Change Room, Office Space
    Size
    13,500 SF
    Lot size
    0.94 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1897
    Floors in Building
    2
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick
    Roof type
    Flat, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Santino Zurzolo

    Corporate Commercial Group (317) 502-3622

    Listing agent Santino Zurzolo (317) 502-3622 License #RB23001926

    Listing date Jan 26, 2026

    MLS# 202602631 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 Commercial Building in Columbia City

    Located in downtown Columbia City, this commercial building presents an opportunity for investors and business owners. The property, formerly a medical office and currently a multi-tenant business incubator, features a layout with private office suites and a large gym. The building generates income with potential for increased revenue through lease-up of vacant units. Spanning over 13,500 square feet across two stories, the building is situated on a 0.94-acre lot. The property is zoned CB (Commercial Business), accommodating a range of commercial uses including office, retail, studio, and professional services. It features over 50 on-site parking spaces and a freestanding pole sign. The location, just off Van Buren Street, provides exposure and accessibility. Recent improvements include updated shingle and flat roofs, along with maintained common areas and hallways. Originally built in 1897 with partial renovation in 2017, the structure combines historic character with modern upgrades. It is ADA compliant, features central air and heating, and includes four restrooms. The property has a gross annual income of over $38,000, with the potential to reach over $61,000 when fully leased. The location is near restaurants, shops, banks, and professional services, including The Square, Brew’ha Coffee, Tokyo Restaurant, and the Whitley County Courthouse. This property is suitable for expanding a business footprint, seeking an owner-occupied solution, or adding to an investment portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia City
    County
    Whitley
    State
    Indiana
    Longitude
    -85.485881
    Latitude
    41.157299

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    FAQs

    What type of property is this?
    Office building - Two-story commercial building with income potential in downtown Columbia City.
    Where is this office building located?
    The property is located at 215 E Van Buren St Columbia City, IN.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: - Prime downtown Columbia City location, steps from restaurants, shops, and amenities.; - Strong income potential with current gross annual income of over $38,000 and potential to reach over $61,000 fully leased.; - Flexible, multi-tenant commercial building with private office suites and a large gym.
    (317) 502-3622
    Request Owner's contact information
    215 E Van Buren St Columbia City, IN 46725
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    Columbia City, IN 46725
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    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
    215 E Van Buren St Columbia City, IN 46725
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    We can help!
    Listing Contact
    Santino Zurzolo
    Real Estate License ID: RB23001926
    (317) 502-3622
    Learn more
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