102 W MARKET ST, Nappanee, IN 46550
Well-maintained office building currently built out as a dental office with reception, private rooms, and ADA-compliant restroom.
- Added:
- Jun 8, 2026
- Days on Market:
- 12
- Last Refresh:
- Jun 17 at 2:30 am
Property Features for 102 W MARKET ST
General Information
- Standard status
- Active
- Size
- 4,644 SF
- Property subtype
- Office
Building Details
- Year Built
- 1959
Listing agent Chad Martin License #IN-RB16000735
Listing office Red Barn Real Estate Group / KW
Listing date Jun 8, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Red Barn Real Estate Group / KW
HighLights
- Built in 1959 commercial office building currently built out as a dental office with reception and waiting area
- Multiple private rooms plus work areas, ADA‑compliant restroom, and updated plumbing
- Fiber optic internet service and two 200‑amp electrical panels
- Roof less than 5 years old; rooftop HVAC units approximately 10 years old
- Corner location with attached exterior signage for strong street presence
- Deed restriction prohibits dental office use at this location for 30 years; seller requires a rent‑back period until completion of their new building nearby
Overview
The building’s corner presence provides strong street-facing visibility for business signage and professional image. The roof is less than five years old, and the rooftop HVAC units are approximately 10 years old, supporting ongoing comfort and operational continuity.
While the space is currently configured as a dental office, the seller will require a rent-back period until completion of their new building nearby. Importantly, a deed restriction will prohibit dental office use at this location for 30 years. Beyond that limitation, the layout and improvements can support many other service-based uses such as professional or medical-style office, counseling and therapy, chiropractic or wellness services, financial and insurance services, legal and real estate activities, title-related services, and boutique retail, salon, or spa operations.
Local Financial Insights For Retail
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 | $88.6k | $19.08 |
| − Vacancy | −$3.5k | −$0.74 |
| EGI | $85.2k | $18.34 |
| − OpEx | −$25.5k | −$5.50 |
| NOI | $59.6k | $12.84 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Nappanee
- County
- Elkhart
- State
- Indiana
- Longitude
- -86.000555
- Latitude
- 41.442949
