Historic Downtown Restaurant
For Sale
$615,000
108 & 110 E Market St, Warsaw, IN 46580
Renovated restaurant space offers dining areas, a bar, commercial kitchen, event room, and additional operational areas.
Property Size2,970 SF
Price / SF$207.07
Days on Market76
Property Features for 108 & 110 E Market St
General Information
Standard status
Active
Size
2,970 SF
Zoning
C-4
Amenities
full-service bar
commercial kitchen
private event room
basement storage
Building Details
Year Built
1890
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Brian Peterson Real Estate
Listed By:
Jan Orban · License #RB14039951
(574) 551-0121
Source:
Kmsrealestategroup
Added: Aug 10
Changed: Oct 9
Last Checked: Oct 7 at 3:24PM
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 Brian Peterson 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.
Located at 108 & 110 E Market Street in Warsaw, this restaurant property dates to 1890 and is zoned C4. The renovated main level combines two dining areas with a full-service bar, open commercial kitchen, private event room, two public restrooms, a staff restroom, and additional back-of-house space. Exposed original brick, high ceilings, wood accents, large display windows, and natural light define the interior. The property is currently leased to Rocksteady Pizza.
A largely unfinished second floor provides space for future offices, loft-style apartments, additional commercial use, or a mixed-use configuration, subject to applicable approvals. The building also includes a full basement for storage and operational needs. Its downtown setting places the property among restaurants, boutiques, entertainment venues, and year-round community events.
A largely unfinished second floor provides space for future offices, loft-style apartments, additional commercial use, or a mixed-use configuration, subject to applicable approvals. The building also includes a full basement for storage and operational needs. Its downtown setting places the property among restaurants, boutiques, entertainment venues, and year-round community events.
Key Highlights
- 1890‑built restaurant property at 108 & 110 E Market Street in Warsaw, IN
- C4 zoning supports the property’s commercial restaurant classification
- Renovated main level with two dining areas, bar, kitchen, event room, and restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,009
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,180
$640.2K
Cap Rate 7%
$457,271
$457.3K
Cap Rate 9%
$355,656
$355.7K
Market Conditions
NOI Build-Up for 2,970 SF
Gross rent
$44.6K $15.00/SF
− Vacancy
−$1.9K −$0.63/SF
EGI
$42.7K $14.37/SF
− OpEx
−$10.7K −$3.59/SF
NOI
$32.0K $10.78/SF
Area
Kosciusko County, IN
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,180
Cap Rate 7%
$457,271
Cap Rate 9%
$355,656
Alternative Uses
Best Use
Specialty Retail
$457.3K
$400.1K – $533.5K
NOI $32,009 @ 7.0% cap · market cap 5.20%
Second Best
Retail
$430.2K
$376.4K – $501.9K
NOI $30,114 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$517.4K
$452.7K – $603.7K
NOI $36,219 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
87k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 50%
McDonald's
Dining
24,588 visits/mo
0.3 miles
BP
Shops & Services
13,638 visits/mo
0.4 miles
Dollar General
Shops & Services
8,495 visits/mo
0.3 miles
KFC
Dining
7,547 visits/mo
0.4 miles
Pizza Hut
Dining
6,857 visits/mo
0.4 miles
Demographics for 46580, IN
22,381
Population
8,873
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
71.1 sq mi
ZIP Area
315
Density / Sq Mi
$70,978
Median Household Income
$40,231
Median Earnings
$963
Median Rent
$175,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated restaurant space offers dining areas, a bar, commercial kitchen, event room, and additional operational areas.
Where is this conventional restaurant located?
The property is located at 108 & 110 E Market St Warsaw, IN.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 1890‑built restaurant property at 108 & 110 E Market Street in Warsaw, IN; C4 zoning supports the property’s commercial restaurant classification; Renovated main level with two dining areas, bar, kitchen, event room, and restrooms
