Mixed-Use Property with
For Sale
$230,000
1422 E Center Street, Warsaw, IN 46580
INVESTMENT, One and Half Story, Warsaw, IN
Property Size2,166 SF
Lot Size0.20 Acres
Price / SF$106.19
Days on Market8
Property Features for 1422 E Center Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Basement, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Parking
9
Lot features
Level
Elementary school
Jefferson
Middle school
Lakeview
High school
Warsaw
Elementary school district
Warsaw Community
Middle school district
Warsaw Community
High school district
Warsaw Community
Directions
From US 30, head west on Center Street. Property is on the left.
Subdivision
Kosciusko County
Standard status
Active
APN
43-11-09-300-750.000-032
Size
2,166 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
004-047-370 LOT 164 WILLIAMS ADD
Tax Annual Amount
1800
Legal Description
004-047-370 LOT 164 WILLIAMS ADD
Utilities
Cooling system
Central Air
Building Details
Year built
1910
Floors in Building
1
Number of units
2
Flooring type
Carpet, Vinyl
Architectural style
Other
Listing Agency:
The Gingerich Group
(574) 306-7377
Listed By:
Scott Gingerich · License #RB15000998
(570) 707-5762
Added: Sep 30
Last Checked: Oct 7 at 12:06PM
MLS# 202640446
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 mixed-use property pairs main-floor office space with a separate apartment above. The office level includes a private room, two open work areas, a kitchen, and bathroom space; the apartment has its own kitchen and living area. Both floors can also be used residentially. Renovations completed in 2023 included flooring, electrical, plumbing, kitchens, bathrooms, and windows. The roof is approximately three years old.
The property occupies a 0.20-acre lot with approximately 10 parking spaces along Center Street. The location records approximately 9,500 vehicles per day and provides access to downtown Warsaw. Zoning is R2.
The property occupies a 0.20-acre lot with approximately 10 parking spaces along Center Street. The location records approximately 9,500 vehicles per day and provides access to downtown Warsaw. Zoning is R2.
Key Highlights
- Mixed‑use configuration with office space below and a separate apartment upstairs
- 2023 renovation covered flooring, electrical, plumbing, kitchens, bathrooms, and windows
- Approximately 0.20‑acre lot with approximately 10 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,342
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,840
$366.8K
Cap Rate 7%
$262,029
$262.0K
Cap Rate 9%
$203,800
$203.8K
Market Conditions
NOI Build-Up for 2,166 SF
Gross rent
$27.3K $12.60/SF
− Vacancy
−$1.1K −$0.50/SF
EGI
$26.2K $12.10/SF
− OpEx
−$7.9K −$3.63/SF
NOI
$18.3K $8.47/SF
Area
Kosciusko County, IN
Vacancy
3.99%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,840
Cap Rate 7%
$262,029
Cap Rate 9%
$203,800
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.3K – $305.7K
NOI $18,342 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$234.8K
$205.4K – $273.9K
NOI $16,434 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$377.4K
$330.2K – $440.3K
NOI $26,415 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
354
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A two-level layout combines professional workspace with a separate upstairs residence, offering both office and residential configuration.
Where is this mixed-use property located?
The property is located at 1422 E Center Street Warsaw, IN.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Mixed‑use configuration with office space below and a separate apartment upstairs; 2023 renovation covered flooring, electrical, plumbing, kitchens, bathrooms, and windows; Approximately 0.20‑acre lot with approximately 10 parking spaces
