Building Details

Year Built 1904

Buildings 1

Stories 3

Listing Agency: RE/MAX Results

Listed By: Heather Marshall Show Phone

Source: Kmsrealestategroup

Added: Aug 9 Changed: Oct 7 Last Checked: Oct 12 at 9:28PM

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Investment Insights

Based on property information with market context.

Constructed in 1904, this three-story mixed-use property contains 9,019 square feet with open-plan areas, high ceilings, hardwood flooring, and substantial natural light. The ground floor includes a storefront with large display windows and street-facing exposure, while the upper floors provide additional space for offices, creative studios, or other configurations identified for the property.

Located in downtown Warsaw at 207 S Buffalo St, the building combines a visible retail-facing lower level with flexible space above. The source information also identifies potential for residential conversion on the upper levels, subject to applicable requirements and approvals.

Key Highlights

• 9,019‑square‑foot, three‑story mixed‑use building
• Built in 1904
• Ground‑floor storefront with large display windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,617

Cap Rate

7.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,132,340 $1.1M

Cap Rate 7%

$808,814 $808.8K

Cap Rate 9%

$629,078 $629.1K

Market Conditions

NOI Build-Up for 9,019 SF

Gross rent

$97.4K $10.80/SF

− Vacancy

−$6.8K −$0.76/SF

EGI

$90.6K $10.04/SF

− OpEx

−$34.0K −$3.77/SF

NOI

$56.6K $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%

$1,132,340

Cap Rate 7%

$808,814

Cap Rate 9%

$629,078

Alternative Uses

Best Use

Retail

$1.31M

$1.14M – $1.52M (±1% cap)

NOI $91,448 @ 7.0% cap · market cap 11.50%

Second Best

Office B

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $84,207 @ 7.0% cap · market cap 10.59%

Theoretical Best

Office A

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,987 @ 7.0% cap · market cap 13.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Kosciusko Economic Development ... Charitable Organization Bee Mortgage App Loan Service

Suggested Use

Top Pick Pharmacy Electrical Service Plumbing Service HVAC Service Storage Facility Bakery

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

746

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

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties 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?

Mixed-use property - Downtown commercial property with storefront presentation and adaptable upper-level space.

Where is this mixed-use property located?

The property is located at 207 S Buffalo St Warsaw, IN.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: 9,019‑square‑foot, three‑story mixed‑use building; Built in 1904; Ground‑floor storefront with large display windows