Insulated Warehouse Unit with Yard
For Sale
$70,000
12771 N 825 E Road, Syracuse, IN 46567
COMMERCIAL - Syracuse, IN
Property Size960 SF
Lot Size6.84 Acres
Price / SF$72.92
Days on Market51
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 WAWASEE AIRPORT, NOTH SIDE OF TRACKS.
Subdivision
Kosciusko County
Standard status
Active
APN
43-04-11-400-084.000-025
Lot size
6.84 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
007-042-003.JAE2 UNIT E 2 MILESTONE AIRPORT STORAGE CONDOS SOUTH
Tax Annual Amount
510
Legal Description
007-042-003.JAE2 UNIT E 2 MILESTONE AIRPORT STORAGE CONDOS SOUTH
Building Details
Year built
2025
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Keller Williams Realty Group
(260) 222-6970
Listed By:
Rex Heil · License #RB14040080
(574) 528-0537
Added: Jun 18
Changed: Aug 4
Last Checked: Aug 7 at 1:06PM
MLS# 202624410
Copyright © 2026 Kosciusko Board of Realtors MLS. 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 property is a single 24-by-40 warehouse unit with 960 square feet of enclosed space. The building includes a 14-foot height overhead door for vehicle and equipment access, plus a 36-inch passage door for foot traffic. Inside, it is set up with overhead lights and includes electrical service noted as 100 amp. The interior walls are wrapped with OSB board, and all outside walls are insulated to support basic temperature control for storage and light work.
The unit is part of a secured yard environment with a security fence and an electric gate opener. The property is located at 12771 N 825 E Road in Syracuse, Indiana, in Kosciusko County.
For buyers seeking a straightforward, enclosed storage and work space, this warehouse configuration offers practical drive-in access through the overhead door and separate passage entry for daily operations. The insulated, OSB-wrapped interior supports use cases such as equipment storage, workshop-style organization, and other operations that benefit from a secure, fenced setting. The included 100 amp service and overhead lighting provide a baseline for inside activity without requiring additional setup beyond normal tenant or buyer enhancements.
The unit is part of a secured yard environment with a security fence and an electric gate opener. The property is located at 12771 N 825 E Road in Syracuse, Indiana, in Kosciusko County.
For buyers seeking a straightforward, enclosed storage and work space, this warehouse configuration offers practical drive-in access through the overhead door and separate passage entry for daily operations. The insulated, OSB-wrapped interior supports use cases such as equipment storage, workshop-style organization, and other operations that benefit from a secure, fenced setting. The included 100 amp service and overhead lighting provide a baseline for inside activity without requiring additional setup beyond normal tenant or buyer enhancements.
Key Highlights
- 40‑ft x 24‑ft unit with 960 SF, under construction (Year built: 2025)
- 14‑ft overhead door height and 36‑inch passage door
- 100‑amp service; inside receipts and overhead lights included
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
6.57%
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 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$167.2K
$146.3K – $195.1K
NOI $11,707 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
16
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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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 - A 24-by-40 warehouse unit with an overhead door and insulated construction, secured by a fenced yard with an electric gate opener.
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 $70,000.
What are key features of this property?
This property features: 40‑ft x 24‑ft unit with 960 SF, under construction (Year built: 2025); 14‑ft overhead door height and 36‑inch passage door; 100‑amp service; inside receipts and overhead lights included
