Versatile Commercial Space in
151 S High St, Warsaw, IN 46580
For Sale
$625,000
Former Cox Studio with office, showroom, and warehouse space.
Property Size7,060 SF
Lot Size0.40 Acres
Price / SF$100.10
Days on Market185
Property Features for 151 S High St
General Information
Standard status
Size
Class
Lot size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
Brian Peterson Real Estate
Listed By:
Brian Peterson
(574) 268-1899
Source:
Thebrokerlist
Added: May 8
Changed: Aug 8
Last Checked: May 8 at 2:38PM
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 Brian Peterson Real Estate
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Investment Insights
Based on property information with market context.
This property, formerly a Cox Studio, features a combination of front office space, a showroom, a workroom/studio, and a warehouse. An additional 816 square feet of storage space is located above the main level. The property measures 132x132 and offers the possibility of additional parking on the green space. The 6,244 square foot main level space, plus the 816 square foot upper storage space, can accommodate single or multiple tenants. Located in the Central Business District C-4 in downtown Warsaw, the corner lot provides great visibility. The main level includes a showroom, work rooms, and offices, with ceiling heights ranging from 8 to 13 feet. The warehouse space is equipped with a hanging heater and an overhead door. Onsite and offsite parking are available. City utilities are in place, with gas and electric services at the property. Heating is provided by gas forced air and baseboard heat, supplemented by two central air units. An unfinished storage room is located above the main level.
Key Highlights
- Prime Location: Corner lot in downtown Warsaw's Central Business District (C‑4) offers excellent visibility.
- Versatile Space: 6244 SF main level is suitable for single or multiple tenants, including showroom, workrooms, offices, and warehouse.
- Warehouse Features: Includes overhead door and hanging heater.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,934
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,680
$598.7K
Cap Rate 7%
$427,629
$427.6K
Cap Rate 9%
$332,600
$332.6K
Market Conditions
NOI Build-Up for 6,244 SF
Gross rent
$37.5K $6.00/SF
− Vacancy
−$2.2K −$0.36/SF
EGI
$35.2K $5.64/SF
− OpEx
−$5.3K −$0.85/SF
NOI
$29.9K $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 Rate 5%
$598,680
Cap Rate 7%
$427,629
Cap Rate 9%
$332,600
Alternative Uses
Best Use
Retail
$904.4K
$791.4K – $1.06M
NOI $63,311 @ 7.0% cap · market cap 10.13%
Second Best
Office B
$832.8K
$728.7K – $971.6K
NOI $58,298 @ 7.0% cap · market cap 9.33%
Theoretical Best
Office A
$1.09M
$951.8K – $1.27M
NOI $76,146 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Former Cox Studio with office, showroom, and warehouse space.
Where is this office unit located?
The property is located at 151 S High St Warsaw, IN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Prime Location: Corner lot in downtown Warsaw's Central Business District (C‑4) offers excellent visibility.; Versatile Space: 6244 SF main level is suitable for single or multiple tenants, including showroom, workrooms, offices, and warehouse.; Warehouse Features: Includes overhead door and hanging heater.
