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    3201 E Center Street Warsaw, IN 46582

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    Claim this Listing
    New
    For Sale
    $525,000

    Mixed Use - Warsaw, IN

    Type:Mixed Use
    Property size:
    4,482 SF
    Lot size:
    1.13 Acres
    Price / SF:
    $117/SF
    Added:
    May 4, 2026
    Days on Market:
    4
    Last Refresh:
    May 7 at 3:06 am

    Property Features for 3201 E Center Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Bathrooms
    5
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Kitchen, Office
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, Office Space, Reception Area
    Exterior features
    Office Space, Reception Area
    Standard status
    Active
    APN
    43-11-10-200-161.000-032
    Size
    4,482 SF
    Lot size
    1.13 Acres

    Taxes and HOA fees

    Tax Annual Amount
    10193.53

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1981
    Floors in Building
    1
    Flooring type
    Carpet, Other
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Brian Peterson

    Listing agent Brian Peterson License #RB14043309

    Listing office Brian Peterson Real Estate 2008 E Center Street, Warsaw, IN

    Listing date May 4, 2026

    MLS# 202616759 Listing URL

    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.

    HighLights

    • Prime commercial location with high visibility and easy access off US 30
    • Approximately 4,482 sq ft of finished above‑grade office space, plus 1,600 sq ft below grade
    • Mixed‑use zoning suitable for professional offices, medical use, or other commercial applications
    • Immediate occupancy available, allowing for customization
    • Functional layout with multiple offices, kitchen area, reception, and storage
    • Ample paved parking on a 1.13‑acre site with city utilities

    Overview

    Versatile Mixed-Use Building in Warsaw

    Located in a highly accessible area off US 30 in Warsaw, this well-maintained brick office building presents a prime commercial opportunity. Constructed in 1981, the property offers approximately 4,482 square feet of finished office space above grade, complemented by an additional 1,600 square feet below grade. The functional layout includes multiple offices, a kitchen area, storage space, and a reception area. The interior features drywall, carpet, and durable flooring, with a 9-foot ceiling height throughout. A forced-air system with central air conditioning provides year-round climate control. Situated on approximately 1.13 acres, the site includes paved parking. The building is serviced by city utilities and is currently vacant. Zoned for mixed use, this property is suitable for professional offices, medical use, or various commercial applications.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Worth Financial Service Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Warsaw
    County
    Kosciusko
    State
    Indiana
    Longitude
    -85.813166
    Latitude
    41.238727

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    FAQs

    What type of property is this?
    Mixed-use property - Well-maintained office building with ample space and mixed-use zoning.
    Where is this mixed-use property located?
    The property is located at 3201 E Center Street Warsaw, IN.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Prime commercial location with high visibility and easy access off US 30; Approximately **4,482 sq ft of finished above‑grade office space**, plus 1,600 sq ft below grade; Mixed‑use zoning suitable for professional offices, medical use, or other commercial applications
    (574) 268-1899
    We can help!
    Listing Contact
    Brian Peterson
    Real Estate License ID: RB14043309
    Learn More
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    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
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    3201 E Center Street, Warsaw, IN 46582-3907
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