Storage Warehouse
For Sale
$79,500
12771 N 825 E Road, Syracuse, IN 46567
COMMERCIAL, Syracuse, IN
Property Size960 SF
Lot Size7.00 Acres
Price / SF$82.81
Days on Market63
Property Features for 12771 N 825 E Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Directions
North side of Lake Wawasee, Located by former Lake Wawasee Airport. 12771 N 825 E Syracuse IN.
Subdivision
Kosciusko County
Standard status
Active
APN
43-04-11-400-084.000-025
Lot size
7.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
43-04-11-400-084.000-025
Tax Annual Amount
475
Legal Description
43-04-11-400-084.000-025
Building Details
Year built
2025
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Krueckeberg Auction And Realty
(260) 724-7402
Listed By:
Perry Glancy · License #RB19001559
(317) 873-0405
Added: Jul 12
Changed: Sep 2
Last Checked: Sep 12 at 5:06PM
MLS# 202627863
Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This warehouse condo is a 2025-built commercial storage unit measuring 24 by 40 feet. The building has insulated walls and ceilings, 16-foot ceilings, a 12-foot by 14-foot overhead door with opener, a 36-inch passage door, and 100-amp electrical service. Concrete flooring supports storage and work-oriented use.
Interior improvements include a 12-by-24-foot lofted room with a window and nine-light door, an 8-foot workbench, painted walls, additional overhead lighting, and added 110-volt outlets. The property also includes security lighting, a metal roof, fencing, and an electric gate opener.
Interior improvements include a 12-by-24-foot lofted room with a window and nine-light door, an 8-foot workbench, painted walls, additional overhead lighting, and added 110-volt outlets. The property also includes security lighting, a metal roof, fencing, and an electric gate opener.
Key Highlights
- 24x40 Storage Condo with 16' ceilings
- 12'x14' overhead door and 36" passage door
- 100‑amp electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$4,602
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$92,040
$92.0K
Cap Rate 7%
$65,743
$65.7K
Cap Rate 9%
$51,133
$51.1K
Market Conditions
NOI Build-Up for 960 SF
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.
Gross rent
$5.8K $6.00/SF
− Vacancy
−$346 −$0.36/SF
EGI
$5.4K $5.64/SF
− OpEx
−$812 −$0.85/SF
NOI
$4.6K $4.79/SF
Area
Kosciusko County, IN
Vacancy
6.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$92,040
Cap Rate 7%
$65,743
Cap Rate 9%
$51,133
Alternative Uses
Best Use
Warehouse
$65.7K
$57.5K – $76.7K
NOI $4,602 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$167.2K
$146.3K – $195.1K
NOI $11,707 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Protech Marine Inc — 12734 N Bishop Rd, Syracuse, IN 46567
- Red Barn Self-Storage — 8211 E 1290 N, Syracuse, IN 46567
Frequently Asked Questions
What type of property is this?
Warehouse - Insulated warehouse condo with lofted workspace, concrete flooring, and secured fenced access.
Where is this warehouse located?
The property is located at 12771 N 825 E Road Syracuse, IN.
What is the asking price?
The asking price for this property is $79,500.
What are key features of this property?
This property features: 24x40 Storage Condo with 16' ceilings; 12'x14' overhead door and 36" passage door; 100‑amp electrical service
