Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1490 Indiana 205 Columbia City, IN

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,722,000

    Three-parcel site suitable for office or retail development.

    Lot size:
    19.25 Acres

    Property Features for 1490 Indiana 205

    General Information

    Lot size
    19.25 Acres

    We can help!

    Listing Contact
    John Caffray
    John Caffray
    Source: Moodyscre

    Listing Agent: John Caffray

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land Ready for Development

    This three-parcel site is located at the corner of US 30 and SR 205 in Columbia City, Indiana, and is suitable for office or retail use. The property borders Faith Christian Academy and Eagle Glen Golf Club. It is situated across the street from Parkview Whitley Hospital and has access at a signalized intersection. The site is surrounded by the Peabody Public Library, Whitley County Family YMCA, and Morsches Park. Located 15.4 miles from I-69 at Goshen Rd. in Fort Wayne, Indiana, the area experiences traffic counts exceeding 24,000 vehicles per day on US 30 and over 6,000 vehicles per day on SR 205.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Columbia City
    County
    Whitley
    State
    Indiana
    Longitude
    -85.4883127
    Latitude
    41.1572686

    Nearby Similar for Sale

    • New
      $495,000
      13,500 SF

      Versatile Commercial Building in Columbia City

      Two-story commercial building with income potential in downtown Columbia City.
      215 E Van Buren St, Columbia City, IN 46725
      View Details
    • $289,900
      0.77 Acres

      Adaptable Commercial Building with Infrastructure

      Spacious commercial building with strong infrastructure and business potential.
      550 W Old Trail Rd, Columbia City, IN 46725
      View Details
    • New
      $399,900
      1.90 Acres

      Versatile Mixed-Use Property

      Mixed-use property in prime location with parking and operational space.
      505 W Business 30, Columbia City, IN 46725
      View Details
    • $235,000
      Pending

      Remodeled Office Building with Rental Units

      Prime commercial property with remodeled office and rental income potential.
      207 W North St, Columbia City, IN 46725
      View Details
    • $189,000
      0.04 Acres

      Mixed-Use Retail Space with Apartment

      Retail space with apartment in downtown Columbia City, Indiana.
      207 W Van Buren St, Columbia City, IN 46725
      View Details
    • $289,900
      0.20 Acres

      Remodeled Mixed-Use Commercial Building

      Queen Anne-style building in downtown Columbia City with mixed-use zoning.
      126 N Main St, Columbia City, IN 46725
      View Details
    • $1,999,000
      1.70 Acres

      Columbia City Mixed-Use Opportunity

      Versatile commercial/industrial property in thriving business corridor.
      665 W Connexion Way, Columbia City, IN 46725
      View Details
    • $137,500
      2,142 SF

      Columbia City Triplex Investment Opportunity

      Triplex with three units, ideal for savvy investors.
      220 E Van Buren St, Columbia City, IN 46725
      View Details
    • $1,200,000
      0.64 Acres

      Commercial Daycare Center Opportunity

      Purpose-built daycare center with expansion potential in Columbia City.
      609 East Van Buren St St, Columbia City, IN 46725
      View Details
    • $549,900
      0.17 Acres

      Commercial Property in Columbia City

      Commercial property approved for restaurant with duplex and convenience store potential.
      201 E Chicago St, Columbia City, IN 46725
      View Details
    • $137,500
      2,026 SF

      Columbia City Triplex Investment Opportunity

      Triplex in Columbia City offering investment potential and versatility.
      311 N Walnut St, Columbia City, IN 46725
      View Details
    • $289,900
      3,754 SF

      Columbia City Sixplex Investment Opportunity

      Fully occupied six-unit apartment building near downtown Columbia City.
      208 E Van Buren St, Columbia City, IN 46725
      View Details

    FAQs

    What type of property is this?
    Land - Three-parcel site suitable for office or retail development.
    Where is this land located?
    The property is located at 1490 Indiana 205 Columbia City, IN.
    What is the asking price?
    The asking price for this property is $1,722,000.
    What are key features of this property?
    This property features: - High traffic counts: Over 24,000 VPD on US 30 and over 6,000 VPD on SR 205; - Strategic location at the corner of US 30 and SR 205; - Signalized intersection access
    (260) 425-2065
    Request Owner's contact information
    1490 Indiana 205 Columbia City, IN
    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.
    1490 Indiana 205
    Columbia City, IN
    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
    1490 Indiana 205 Columbia City, IN
    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

    We can help!
    Listing Contact
    John Caffray
    John Caffray
    Real Estate License ID: RB14048907
    (260) 425-2065
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.