Building Details

Year Built 1957

Listing Agency: ERA Crossroads

Listed By: Kay Young · License #RB14019200 Show Phone

Source: Theferrellgroupkw

Added: Aug 22 Changed: Oct 5 Last Checked: Oct 5 at 9:36PM

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Investment Insights

Based on property information with market context.

This commercial land offering consists of three parcels totaling approximately 1.79 acres, with an existing building constructed in 1957 and additional vacant ground. The current improvement is described as suitable for small retail use, while the balance of the property provides room for further commercial development.

The site occupies a corner position in North Webster with 180 feet of frontage on SR 13. Road frontage across three streets totals over 700 linear feet, and the most recent traffic volume report identifies 10,181 vehicles per day. The property is addressed at 504 & 518 S Main St.

Key Highlights

• Approximately 1.79 acres across three parcels
• 180' frontage on SR 13
• Over 700 linear feet of road frontage across three streets

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,098

Cap Rate

3.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$141,960 $142.0K

Cap Rate 7%

$101,400 $101.4K

Cap Rate 9%

$78,867 $78.9K

Market Conditions

NOI Build-Up for 700 SF

Gross rent

$10.6K $15.12/SF

− Vacancy

−$445 −$0.64/SF

EGI

$10.1K $14.48/SF

− OpEx

−$3.0K −$4.35/SF

NOI

$7.1K $10.14/SF

Area

Kosciusko County, IN

Vacancy

4.20%

Lease Rate

$15.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$141,960

Cap Rate 7%

$101,400

Cap Rate 9%

$78,867

Alternative Uses

Best Use

Retail

$101.4K

$88.7K – $118.3K (±1% cap)

NOI $7,098 @ 7.0% cap · market cap 3.58%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$122.0K

$106.7K – $142.3K (±1% cap)

NOI $8,537 @ 7.0% cap · market cap 4.31%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick HVAC Service Grocery & Convenience Store Law Firm (Bike/Boat/Book/etc) Store Bakery Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

196

Businesses Nearby

10k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 60% Home Improvements & Furnishings 40%

Family Express Shops & Services

5,024 visits/mo 0.2 miles

North Webster Ace Hardware Home Improvements & Furnishings

4,068 visits/mo 0.3 miles

Napa Auto Parts Shops & Services

987 visits/mo 0.3 miles

Demographics for 46555, IN

2,729

Population

1,770

Households

1.5

Avg Household Size

45

Median Age

24%

College-Educated

92%

High-School Grad

10.1 sq mi

ZIP Area

270

Density / Sq Mi

$70,268

Median Household Income

$36,034

Median Earnings

$977

Median Rent

$203,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Commercial land - Three parcels include an existing small-retail building and additional vacant ground for commercial development.

Where is this commercial land located?

The property is located at 504 & 518 S Main St North Webster, IN.

What is the asking price?

The asking price for this property is $198,000.

What are key features of this property?

This property features: Approximately 1.79 acres across three parcels; 180' frontage on SR 13; Over 700 linear feet of road frontage across three streets