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    Howe Mixed-Use Commercial Building Title is generated by Realmo AI

    418 Defiance Street, Howe, IN 46746

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    For Sale
    $235,000

    Business Service,Light Industry Mfg,Service,Warehouse - Mixed Use

    Type:Manufactured Home
    Lot size:
    0.10 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    61
    Last Refresh:
    May 30 at 5:06 pm

    Property Features for 418 Defiance Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Manufactured Home
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Kitchen, Office
    Parking
    10
    Parking features
    Off Street
    Interior features
    Concrete, Drywall, Metal, Wood, 220 Volts, Living Space, Basement, Delivery Door, Display Room, Display Window(s), Office Space, Public Restrooms, Reception Area, Other, Clear Span
    Exterior features
    220 Volts, Living Space, Basement, Delivery Door, Display Room, Display Window(s), Office Space, Public Restrooms, Reception Area, Other, Clear Span
    Standard status
    Active
    APN
    44-02-30-300-001.100-012
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    708.76

    Utilities

    Heating system
    Forced Air, Heat Pump (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1965
    Floors in Building
    2
    Flooring type
    Laminate, Tile
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Daniel Orlando

    Listing agent Daniel Orlando License #RB14051647

    Listing office Mike Thomas Associates 116 E. Wayne St., LaGrange, IN

    Listing date Mar 31, 2026

    MLS# 202610756 Listing URL

    Copyright © 2026 Northeastern Indiana Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility location on State Road 120 with steady traffic, ideal for business exposure.
    • Two separate units with individual gas and electric meters (both with 200 amp service), offering flexible mixed‑use options and rental income potential.
    • Tenant in place (dog grooming business) providing immediate income.
    • New well installed in 2024.
    • B4 zoning supports a range of commercial uses.
    • Convenient access to I‑80/90 Toll Road (Exit 121) and US 20 for regional travel.

    Overview

    Located on State Road 120 in Howe, this commercial building offers high visibility and is suitable for business or investment purposes. The structure is divided into two separate units with individual gas and electric meters, allowing for mixed-use options, including owner-occupancy with rental income or full investment use. One side is currently leased to a dog grooming business, providing immediate income. The other side is set up as open commercial space, previously used by an HVAC company, making it suitable for service, retail, storage, or light commercial use. The layout offers multiple entry points and the ability to modify for overhead doors. Utilities include a new well installed in 2024, city sewer, and NIPSCO gas and electric, with both units having individual 200-amp service. The metal roof is approximately 10 years old, and drainage has been improved with downspouts routed to underground piping. Additional features include a basement area for storage or storm use, finished upper-level storage above one unit, exterior outlets, lighted signage, and keypad entry on a secondary entrance. Parking is available on the east side with additional nearby overflow options. The property is approximately 2 miles from the I-80/90 Toll Road (Exit 121 at SR 9) and about 5 miles from US 20, providing convenient access for regional travel, service routes, or commuting. Zoning is B4, supporting a range of commercial uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Puppy Love Pet Grooming Service

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Hotel & Motel Nail Salon Auto Parts Store Food Market Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Howe
    County
    LaGrange
    State
    Indiana
    Longitude
    -85.421379
    Latitude
    41.720202

    Nearby Similar for Sale

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    • $459,900
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    FAQs

    What type of property is this?
    Mixed-use property - Commercial building with two units, rental income, and high visibility.
    Where is this mixed-use property located?
    The property is located at 418 Defiance Street Howe, IN.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: High‑visibility location on State Road 120 with steady traffic, ideal for business exposure.; Two separate units with individual gas and electric meters (both with 200 amp service), offering flexible mixed‑use options and rental income potential.; Tenant in place (dog grooming business) providing immediate income.
    (260) 463-2881
    We can help!
    Listing Contact
    Daniel Orlando
    Real Estate License ID: RB14051647
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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.

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