Mixed-Use Property with Private
For Sale
Under Contract
$255,000
207 W Lincoln Highway, New Haven, IN 46774
COMMERCIAL - New Haven, IN
Property Size1,250 SF
Lot Size0.76 Acres
Price / SF$204
Days on Market174
Property Features for 207 W Lincoln Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Garage
Fencing
Chain Link
Subdivision
Lincoln Highway Park
Lot features
City, Commercial
Directions
Quarter of block east of 207 W. Lincoln HWY
Standard status
Active Under Contract
APN
02-13-11-326-006.000-041
Lot size
0.76 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
W 128ft of E7.20a Ne Cor Sw 1/4 N of Rd Ex W 111.7 of S141 Sec 11
Tax Annual Amount
2707
Legal Description
W 128ft of E7.20a Ne Cor Sw 1/4 N of Rd Ex W 111.7 of S141 Sec 11
Utilities
Cooling system
Central Air
Building Details
Year built
1948
Flooring type
Laminate, Brick, Vinyl, Carpet
Roof type
Shingle, Flat
Listing Agency:
Lomont REALTORS
(260) 433-4107
Listed By:
Robert Lomont · License #RB14013364
(260) 433-4107
Added: Feb 18
Changed: Aug 4
Last Checked: Aug 11 at 9:06PM
MLS# 202605080
Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. 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.
A 0.76-acre mixed-use property under one roof, built in 1948, designed to support both living and operating a business. The residential side includes 1,325 sq. ft., while the commercial side includes 1,250 sq. ft. Additional workspace is available in the finished basement with fireplace, totaling 1320 sq ft.
A connecting private drive leads to asphalt parking for up to 10 vehicles, plus a separate large 2-car garage. The fully fenced back lot is set up for unrestricted usage, with a back entrance opening into a 25 ft X 29 ft multipurpose room. That space flows through glass French doors to an 18 ft. X 29 ft. office area. The basement includes a 12 ft. X 3 ft. cabinet wall, a 6 ft. X 11 ft. insulated storage room, and two work stations, each 4 ft. X 6 ft., with 110 electric outlets and running water. There is also a twin utility sink flanked by two 8 ft counters and 220 v. access.
The home features brick and exterior Limestone, central air, and a combination of shingle and flat roofing. The back deck is accessible through atrium doors from the dining room and includes a natural gas heater, electric ceiling fans, and an electric flat top grill.
A connecting private drive leads to asphalt parking for up to 10 vehicles, plus a separate large 2-car garage. The fully fenced back lot is set up for unrestricted usage, with a back entrance opening into a 25 ft X 29 ft multipurpose room. That space flows through glass French doors to an 18 ft. X 29 ft. office area. The basement includes a 12 ft. X 3 ft. cabinet wall, a 6 ft. X 11 ft. insulated storage room, and two work stations, each 4 ft. X 6 ft., with 110 electric outlets and running water. There is also a twin utility sink flanked by two 8 ft counters and 220 v. access.
The home features brick and exterior Limestone, central air, and a combination of shingle and flat roofing. The back deck is accessible through atrium doors from the dining room and includes a natural gas heater, electric ceiling fans, and an electric flat top grill.
Key Highlights
- 0.76‑acre mixed‑use property built in 1948
- 1,325 sq. ft. residential side and 1,250 sq. ft. commercial side under one roof
- Finished basement workspace totals 1320 sq ft with fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,457
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$329,140
$329.1K
Cap Rate 7%
$235,100
$235.1K
Cap Rate 9%
$182,856
$182.9K
Market Conditions
NOI Build-Up for 1,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.3K $19.44/SF
− Vacancy
−$2.4K −$1.89/SF
EGI
$21.9K $17.55/SF
− OpEx
−$5.5K −$4.39/SF
NOI
$16.5K $13.17/SF
Area
Allen County, IN
Vacancy
9.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$329,140
Cap Rate 7%
$235,100
Cap Rate 9%
$182,856
Alternative Uses
Best Use
Office B
$235.1K
$205.7K – $274.3K
NOI $16,457 @ 7.0% cap · market cap 6.45%
Second Best
Mixed Use
$156.7K
$137.1K – $182.8K
NOI $10,969 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$288.1K
$252.1K – $336.1K
NOI $20,168 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 46774, IN
17,341
Population
7,287
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
52.7 sq mi
ZIP Area
329
Density / Sq Mi
$70,758
Median Household Income
$44,034
Median Earnings
$961
Median Rent
$169,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A mixed-use ranch with central air, a chain-link fenced back lot, and asphalt parking accessed via a private drive.
Where is this mixed-use property located?
The property is located at 207 W Lincoln Highway New Haven, IN.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 0.76‑acre mixed‑use property built in 1948; 1,325 sq. ft. residential side and 1,250 sq. ft. commercial side under one roof; Finished basement workspace totals 1320 sq ft with fireplace
