1015 E Center Street Warsaw, IN 46580
COMMERCIAL - Warsaw, IN
- Added:
- Mar 18, 2026
- Days on Market:
- 117
- Last Refresh:
- Jul 12 at 3:06 pm
Property Features for 1015 E Center Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Rooms
- Basement
- Parking features
- Off Street
- Fencing
- Chain Link
- Standard status
- Active
- APN
- 43-11-09-300-672.000-032
- Lot size
- 0.55 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 004-047-075 Lot 2 Exc N 120' Boss Add
- Tax Annual Amount
- 6169
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1860
- Flooring type
- Carpet, Wood, Vinyl, Laminate
- Roof type
- Shake
Listing agent Phillip Kuhn License #RB18000061 (574) 386-9271
Listing office RE/MAX Results 358 Enterprise Drive, Warsaw, IN (574) 269-6911
Listing date Mar 18, 2026
Copyright © 2026 Kosciusko Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1015 E Center Street in Warsaw, Indiana, the building provides easy ingress and egress via a shared circular driveway off Center Street. The site includes 20 private parking spaces, which can support a wide range of customer-facing or tenant needs. The property is zoned R-2.
With its multiple entrances, separate HVAC, and flexible layout, the building can accommodate office users such as insurance, legal, or real estate, while also aligning with retail or multi-family living with up to three units if converted. It also presents a straightforward pathway for a tenant seeking a live-work setup, occupying one side and operating a business, studio, or similar use in the other. Conversion back to a single-family home is also possible, including a grand staircase and a fireplace that is currently non-working.
Key Highlights
- 4,400+ SF brick property built in 1860; has operated as a professional office for the past 50 years
- Zoned R‑2 with multiple possible uses including office, retail, conversion to single‑family, or multi‑family up to three units
- Three separate front entrances plus two front staircases and a rear staircase—suited for a live/work layout
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.2k | $15.96 |
| − Vacancy | −$15.4k | −$3.51 |
| EGI | $54.8k | $12.45 |
| − OpEx | −$13.7k | −$3.11 |
| NOI | $41.1k | $9.34 |