Mixed-Use Brick Office
For Sale
$475,000
Pending
3201 E Center Street, Warsaw, IN 46582
COMMERCIAL - Warsaw, IN
Property Size4,482 SF
Lot Size1.13 Acres
Days on Market94
Property Features for 3201 E Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Directions
From Warsaw, take Center St East across US 30.
Subdivision
Kosciusko County
Standard status
Pending
APN
43-11-10-200-161.000-032
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
51
Tax Description
4-52-46.CA TR W 1/2 SE 10-32-6 1.13A
Tax Annual Amount
10194
Legal Description
4-52-46.CA TR W 1/2 SE 10-32-6 1.13A
Utilities
Cooling system
Central Air
Building Details
Year built
1981
Flooring type
Carpet
Roof type
Shingle
Listing Agency:
Brian Peterson Real Estate
(574) 268-1899
Listed By:
Brian Peterson
(574) 268-1899
Added: May 4
Changed: Aug 5
Last Checked: Aug 5 at 3:06PM
MLS# 202616759
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 well-maintained brick office building, built in 1981, includes finished office space above grade plus additional finished space below grade. The functional layout features multiple offices, a kitchen area, storage space, and a welcoming reception area. Interior finishes include drywall and carpet with other durable flooring, supported by 9-foot ceiling height. Heating and cooling are provided by a forced-air system with central air conditioning.
The property sits on approximately 1.13 acres and includes paved parking for staff and visitors. It is located in Warsaw, Indiana on E Center Street and is described as being just off US 30, supporting convenient access for clients and day-to-day operations. The building is serviced by city utilities and the site offers visibility and convenience.
Currently vacant, the building provides flexibility for immediate occupancy or business-specific customization. With mixed-use zoning noted in the materials, the space can fit professional office and medical office users, as well as other commercial applications consistent with the zoning designation. The combination of reception, multiple private offices, and centralized HVAC makes the property practical for organizations seeking a straightforward, ready-to-use office environment with room to expand within the existing footprint.
The property sits on approximately 1.13 acres and includes paved parking for staff and visitors. It is located in Warsaw, Indiana on E Center Street and is described as being just off US 30, supporting convenient access for clients and day-to-day operations. The building is serviced by city utilities and the site offers visibility and convenience.
Currently vacant, the building provides flexibility for immediate occupancy or business-specific customization. With mixed-use zoning noted in the materials, the space can fit professional office and medical office users, as well as other commercial applications consistent with the zoning designation. The combination of reception, multiple private offices, and centralized HVAC makes the property practical for organizations seeking a straightforward, ready-to-use office environment with room to expand within the existing footprint.
Key Highlights
- 1981 brick office building with approx. 4,482 SF finished above‑grade office space plus approx. 1,600 SF below‑grade
- Functional layout with multiple offices, kitchen area, storage, and a reception area
- 9‑foot ceiling height and interior finishes include drywall and carpet
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.7k | $18.00 |
| − Vacancy | −$8.1k | −$1.80 |
| EGI | $72.6k | $16.20 |
| − OpEx | −$29.0k | −$6.48 |
| NOI | $43.6k | $9.72 |
4,482 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$622.4K
$544.6K – $726.1K
NOI $43,565 @ 7.0% cap · market cap 9.17%
Second Best
Office B
$597.8K
$523.1K – $697.5K
NOI $41,847 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$780.8K
$683.2K – $911.0K
NOI $54,658 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Explore this area
Business Placement
Demographics for 46582, IN
14,151
Population
7,064
Households
2
Avg Household Size
38
Median Age
35%
College-Educated
91%
High-School Grad
57.6 sq mi
ZIP Area
246
Density / Sq Mi
$67,161
Median Household Income
$43,031
Median Earnings
$1,085
Median Rent
$231,900
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?
Office building - Well-maintained office building with finished above- and below-grade space, reception, and forced-air HVAC on paved parking.
Where is this office building located?
The property is located at 3201 E Center Street Warsaw, IN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1981 brick office building with approx. 4,482 SF finished above‑grade office space plus approx. 1,600 SF below‑grade; Functional layout with multiple offices, kitchen area, storage, and a reception area; 9‑foot ceiling height and interior finishes include drywall and carpet
