Flex Space with Office
For Sale
$375,000
1057 E 350 N, Warsaw, IN 46582
Two-building commercial property combines separately metered office suites, storage areas, and multi-bay workspace with gravel parking.
Property Size4,500 SF
Lot Size0.60 Acres
Price / SF$83.33
Days on Market99
Property Features for 1057 E 350 N
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.60 Acres
Zoning
commercial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
2
Building Details
Year Built
1979
Buildings
2
Listing Agency:
Blackwell Real Estate
Listed By:
Dave Blackwell · License #RB14014777
(574) 453-8143
Source:
Callcriswell
Added: Jul 18
Changed: Oct 10
Last Checked: Oct 7 at 2:38PM
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 Blackwell Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property includes two commercial buildings totaling 4,500 square feet on six tenths of an acre. The 1979 east building measures 40x63 and combines two office suites with reception areas, kitchen-break rooms, private offices, full restrooms, and a rear storage area. Large sliding doors at both the front and rear provide access to the storage portion, which also includes loft space. Each office suite has separate gas and electric metering, newer Carrier high-efficiency furnaces, and newer AC units.
Constructed in 1991, the 30x66 south building is arranged as three units and can accommodate up to five. It has five overhead doors, with two doors serving each end unit and one serving the middle bay. The property also includes ample gravel parking, NIPSCO gas, REMC electric, fiber optic internet service available, a shared 4-inch well, and a private septic system. Located just northeast of Warsaw, the property is near US 30 and St Rd 15.
Constructed in 1991, the 30x66 south building is arranged as three units and can accommodate up to five. It has five overhead doors, with two doors serving each end unit and one serving the middle bay. The property also includes ample gravel parking, NIPSCO gas, REMC electric, fiber optic internet service available, a shared 4-inch well, and a private septic system. Located just northeast of Warsaw, the property is near US 30 and St Rd 15.
Key Highlights
- Two commercial buildings totaling 4,500 square feet on six tenths of an acre
- East building measures 40x63 and was constructed in 1979
- South building measures 30x66, was built in 1991, and has 5 overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,843
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,860
$516.9K
Cap Rate 7%
$369,186
$369.2K
Cap Rate 9%
$287,144
$287.1K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$42.7K $9.48/SF
− Vacancy
−$2.9K −$0.64/SF
EGI
$39.8K $8.84/SF
− OpEx
−$13.9K −$3.09/SF
NOI
$25.8K $5.74/SF
Area
Kosciusko County, IN
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,860
Cap Rate 7%
$369,186
Cap Rate 9%
$287,144
Alternative Uses
Best Use
Office B
$600.2K
$525.2K – $700.3K
NOI $42,015 @ 7.0% cap · market cap 11.20%
Second Best
Flex RnD
$369.2K
$323.0K – $430.7K
NOI $25,843 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$784.0K
$686.0K – $914.6K
NOI $54,878 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46582, IN
14,151
Population
7,064
Households
2
Avg Household Size
38
Median Age
35%
College-Educated
91%
High-School Grad
57.6 sq mi
ZIP Area
246
Density / Sq Mi
$67,161
Median Household Income
$43,031
Median Earnings
$1,085
Median Rent
$231,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property combines separately metered office suites, storage areas, and multi-bay workspace with gravel parking.
Where is this flex space located?
The property is located at 1057 E 350 N Warsaw, IN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two commercial buildings totaling 4,500 square feet on six tenths of an acre; East building measures 40x63 and was constructed in 1979; South building measures 30x66, was built in 1991, and has 5 overhead doors
