Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    116 N Main St Kendallville, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Adaptable warehouse space with loading docks and office space.

    Type:OFFICE
    Property size:
    8,300 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $57/SF
    Added:
    Nov 1, 2022
    Days on Market:
    1277
    Last Refresh:
    Apr 5 at 8:19 pm

    Property Features for 116 N Main St

    General Information

    Standard status
    Active
    Size
    8,300 SF
    Lot size
    0.08 Acres
    Property subtype
    OFFICE

    Properties For Sale

    at 116 N Main St Contact us

    We can help!

    Listing Contact
    Neal Worden
    Neal Worden

    Listing agent Neal Worden

    Listing office Xplor Commercial Real Estate

    Listing date Nov 1, 2022

    Source Moodyscre

    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 Xplor Commercial Real Estate

    Overview

    Versatile Warehouse in Historical District

    Located within the Historical Kendallville District, 116 N. Main Street is a versatile property that was formerly a newspaper production and warehouse facility. The property offers an array of features designed to meet diverse business needs. It includes three 9' x 9' dock doors and one 9'x12' overhead door with a designated loading area, providing logistics support. Ceiling heights vary from 9' to 14', and additional basement storage space offers flexibility for warehouse or storage operations. Adjacent office space enhances its appeal, making it suitable for businesses seeking a unique and adaptable workspace. The property has a total size of 8300 square feet. Short term leases are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Stowaway Mini Storage — 910 Harlash St, Kendallville, IN 46755

    Location Insight

    • Map
    • Local Demand
    City
    Kendallville
    County
    Noble
    State
    Indiana
    Longitude
    -85.2656
    Latitude
    41.4444

    Nearby Similar for Sale

    • $420,000

      Kendallville Industrial Building on State Road

      5,461 sq ft commercial/industrial building on 0.53 acres.
      701 Krueger Street, Kendallville, IN 46755-1119
      View Details
    • $174,900

      Historic Mixed-Use Building, Kendallville, IN

      Iconic 4,800 SF mixed-use building in historic downtown Kendallville.
      101 N Main Street, Kendallville, IN 46755
      View Details
    • $210,000

      Kendallville Mixed-Use Brick Building

      Free-standing brick building with retail and residential opportunity.
      111 E Rush Street, Kendallville, IN 46755-1737
      View Details
    • $210,000

      Kendallville House of Worship For Sale

      House of worship with seating, classrooms, kitchen, dining area.
      321 E Mitchell Street, Kendallville, IN 46755
      View Details
    • $209,999

      Historic Downtown Mixed-Use Opportunity

      6,000+ sq ft commercial property with endless potential.
      211/213 S Main Street, Kendallville, IN 46755
      View Details
    • $625,000
      2,640 SF

      Kendallville Commercial Property For Sale

      Former car lot with showroom, offices, and garage area.
      2505 E North St, Kendallville, IN 46755
      View Details
    • $199,000

      Downtown Kendallville Commercial Property For Sale

      Prime commercial building in downtown Kendallville, ideal for retail.
      104 S Main Street, Kendallville, IN 46755
      View Details
    • $1,900,000
      36,100 SF

      Kendallville Warehouse with Planned Roof

      Industrial warehouse in Kendallville, Indiana, with new roof planned.
      6886 N 400 E, Kendallville, IN
      View Details
    • $9,350,000
      63,900 SF

      Kendallville Age-Restricted Apartment Community

      74-unit multifamily property for sale in Kendallville, Indiana.
      1320 Knoll Crest Dr., Kendallville, IN 46755
      View Details
    • $1,840,000
      684 SF

      Scooter’s Coffee NNN Investment Opportunity

      Absolute NNN lease with corporate guaranty and rental increases.
      621 E N St, Kendallville, IN
      View Details
    • $2,475,000
      71,000 SF

      71,000 SF Industrial Building

      Industrial building on 4.12 acres available for sublease or sale.
      1101 Stonebraker Dr, Kendallville, IN
      View Details
    • $8,600,000
      179,160 SF

      Kendallville Industrial Manufacturing Facility

      Premier industrial property ideal for manufacturing with expansion potential.
      2605 Marion Dr, Kendallville, IN
      View Details

    FAQs

    What type of property is this?
    Warehouse - Adaptable warehouse space with loading docks and office space.
    Where is this warehouse located?
    The property is located at 116 N Main St Kendallville, IN.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Strategically located within the Historical Kendallville District.; Features three 9' x 9' dock doors and one 9'x12' overhead door with a designated loading area for seamless logistics.; Varied ceiling heights ranging from 9' to 14' offering operational flexibility.
    (260) 705-8823 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Neal Worden
    Neal Worden
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!