Multi-Use Building With
For Sale
$1,475,000
832 E Center St, Warsaw, IN 46580
Accessible facility with offices, meeting rooms, classrooms, kitchen, storage, and a substantial parking area.
Property Size17,508 SF
Lot Size1.83 Acres
Price / SF$135.47
Days on Market66
Property Features for 832 E Center St
General Information
Standard status
Active
Size
17,508 SF
Total Parking Spaces
70
Lot size
1.83 Acres
Amenities
commercial kitchen
auditorium with balcony, pipe organ, and audio system
leaded stained glass windows
security system
handicapped accessible
meeting rooms
classrooms
storage rooms
Building Details
Year Built
1953
Buildings
1
Building Size
17,508 SF
Construction
stone
Listing Agency:
RE/MAX Results
Listed By:
Steve Savage · License #RB14027643
(574) 253-1313
Source:
Spencerchildersgroup
Added: Aug 4
Changed: Oct 6
Last Checked: Oct 7 at 2:06PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 17,508-square-foot mixed-use building, constructed in 1953, combines an auditorium, balcony, offices, meeting rooms, classrooms, storage areas, six bathrooms, and a commercial kitchen with commercial-sized appliances. The main-level auditorium includes a pipe organ, updated audio equipment, and seating for approximately 275 people. Leaded stained-glass windows have exterior plexiglass protection, and a vertical platform lift installed in 2023 supports handicapped access.
Building improvements include a new roof installed in 2013 with GAF 40-year warranty shingles. The stone exterior received mortar-joint inspection, re-tucking, and sealing with a 50-year sealant in 2017. Heating and cooling equipment has been updated and maintained. Exterior cameras and a security system are in place.
The property occupies 1.83 acres at 832 E Center Street in Warsaw, Indiana, with a 70-space asphalt parking lot. An additional 0.47-acre lot is included for expansion or green space.
Building improvements include a new roof installed in 2013 with GAF 40-year warranty shingles. The stone exterior received mortar-joint inspection, re-tucking, and sealing with a 50-year sealant in 2017. Heating and cooling equipment has been updated and maintained. Exterior cameras and a security system are in place.
The property occupies 1.83 acres at 832 E Center Street in Warsaw, Indiana, with a 70-space asphalt parking lot. An additional 0.47-acre lot is included for expansion or green space.
Key Highlights
- 17,508‑square‑foot mixed‑use building on a 1.83‑acre parcel
- Main‑level auditorium with balcony, pipe organ, updated audio system, and seating for 275 +/-
- 70‑space asphalt parking lot plus an included 0.47‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,349
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,366,980
$1.4M
Cap Rate 7%
$976,414
$976.4K
Cap Rate 9%
$759,433
$759.4K
Market Conditions
NOI Build-Up for 10,888 SF
Gross rent
$117.6K $10.80/SF
− Vacancy
−$8.2K −$0.76/SF
EGI
$109.4K $10.04/SF
− OpEx
−$41.0K −$3.77/SF
NOI
$68.3K $6.28/SF
Area
Kosciusko County, IN
Vacancy
7.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,366,980
Cap Rate 7%
$976,414
Cap Rate 9%
$759,433
Alternative Uses
Best Use
Mixed Use
$976.4K
$854.4K – $1.14M
NOI $68,349 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,780 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Accessible facility with offices, meeting rooms, classrooms, kitchen, storage, and a substantial parking area.
Where is this mixed-use property located?
The property is located at 832 E Center St Warsaw, IN.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 17,508‑square‑foot mixed‑use building on a 1.83‑acre parcel; Main‑level auditorium with balcony, pipe organ, updated audio system, and seating for 275 +/-; 70‑space asphalt parking lot plus an included 0.47‑acre lot
