Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2604 - 2616 Shelden Street Warsaw, IN 46582

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Corner retail and office spaces available for lease.

    Type:Retail, Office, Restaurant
    Added:
    May 17, 2023
    Days on Market:
    1067
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 2604 - 2616 Shelden Street

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    2004

    Spaces For Lease

    at 2604 - 2616 Shelden Street Contact us

    Suite #2612 $9 /Mo

    Size
    2,140 SF
    Type
    Retail
    Contact us

    Suite #2604 $9 /Mo

    Size
    4,200 SF
    Type
    Retail
    Contact us

    Suite #2606 $9 /Mo

    Size
    2,100 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Gage Hudak, CCIM
    Gage Hudak, CCIM

    Listing agent Gage Hudak, CCIM License #IN RB17000264

    Listing office Bradley Company South Bend

    Listing date May 17, 2023

    Source Crexi

    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 Bradley Company South Bend

    Overview

    Retail/Office Space on Shelden Street

    Located at the corner of Shelden Street and Petro Drive, this property offers retail and office spaces for lease. The property is suitable for retail, office, and restaurant businesses.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Warsaw
    County
    Kosciusko
    State
    Indiana
    Longitude
    -85.872
    Latitude
    41.2783

    Nearby Similar for Lease

    • Contact for pricing

      Updated Office Space in Warsaw

      Modern 1620 SF office space available for lease.
      4068 N State Road 15 Suite A, Warsaw, IN 46582-7751
      View Details
    • Contact for pricing

      Move-in Ready Warsaw Office Space

      Office space in a popular business district, ready for occupancy.
      2150 North Pointe Drive, Warsaw, IN 46582-9043
      View Details
    • $5/mo

      Warsaw Office Building For Lease

      Office building with high visibility and traffic, multiple space options.
      713 S Buffalo Street, Warsaw, IN 46580-4312
      View Details
    • $12/mo

      Retail Center in Warsaw, Indiana

      Retail spaces available in a 15-unit center with high traffic.
      3620 - 3656 Commerce Drive, Warsaw, IN 46580
      View Details
    • $10/mo

      Retail Center Near Walmart

      16,700 SF retail center with pylon sign visibility.
      2604-2616 Shelden St, Warsaw, IN
      View Details
    • $10/mo

      Retail Center Near Walmart

      16,500 SF retail center on Warsaw's north side.
      2580-2596 Walton Blvd, Warsaw, IN
      View Details
    • $18/mo

      Professional Office Space Available

      Office space for rent in a multi-tenant building.
      2176 Biomet Dr, Warsaw, IN
      View Details
    • $5/mo

      Versatile Building on US-30

      Adaptable building suitable for office, retail, and flex-type uses.
      2691 US-30, Warsaw, IN
      View Details
    • Contact for pricing

      Industrial Space in Technology Park

      70,000 SF available for lease in Warsaw Technology Park.
      1395 Polk Drive, Warsaw, IN 46582
      View Details
    • $18/mo

      Versatile Office Space Available

      Adaptable office space featuring private offices, conference rooms, and ample parking.
      902 Provident Dr, Warsaw, IN
      View Details
    • Contact for pricing

      Office Space Near US 30

      Office space with open workspace, private offices, and breakroom.
      2280 Provident Ct, Warsaw, IN
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      1200 Lake City Hwy, Warsaw, IN 46580
      View Details

    FAQs

    What type of property is this?
    Retail space - Corner retail and office spaces available for lease.
    Where is this retail space located?
    The property is located at 2604 - 2616 Shelden Street Warsaw, IN.
    What are key features of this property?
    This property features: Corner location; Located on Shelden Street; Located on Petro Drive
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gage Hudak, CCIM
    Gage Hudak, CCIM
    Real Estate License ID: IN RB17000264
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!