Building Details

Year Built 1955

Buildings 3

Listing Agency: eXp Realty, LLC

Listed By: Cara Warren · License #18871 Show Phone

Source: Housesinfortwayne

Added: Oct 14 Changed: Oct 15 Last Checked: Oct 16 at 6:09AM

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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 eXp Realty, LLC

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Investment Insights

Based on property information with market context.

This retail property spans 12.6 acres and includes a 2,365-square-foot commercial building built in 1955, plus two outbuildings with electrical service and concrete floors. About 80% of the improved acreage is cleared and graded. A gravel loop drive connects the site, which also includes a pond and wooded ground. Commercial and Agricultural zoning applies.

The property has 180 feet of frontage along State Road 13, across from the Barbee Chain of Lakes and near Jellystone Park. Two access points connect to the highway, with an additional gated entry from E 350 N.

Key Highlights

• 12.6 acres, with approximately 80% of improved acreage cleared and graded
• 2,365‑square‑foot commercial building; built in 1955
• 180 feet of frontage on State Road 13

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,980

Cap Rate

4.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$479,600 $479.6K

Cap Rate 7%

$342,571 $342.6K

Cap Rate 9%

$266,444 $266.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,365 SF

Gross rent

$35.8K $15.12/SF

− Vacancy

−$1.5K −$0.64/SF

EGI

$34.3K $14.48/SF

− OpEx

−$10.3K −$4.35/SF

NOI

$24.0K $10.14/SF

Area

Kosciusko County, IN

Vacancy

4.20%

Lease Rate

$15.12 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$479,600

Cap Rate 7%

$342,571

Cap Rate 9%

$266,444

Alternative Uses

Best Use

Retail

$342.6K

$299.8K – $399.7K (±1% cap)

NOI $23,980 @ 7.0% cap · market cap 4.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$412.0K

$360.5K – $480.7K (±1% cap)

NOI $28,841 @ 7.0% cap · market cap 4.81%

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

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Garden Center Real Estate Agency Accounting Firm Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 46562, IN

4,718

Population

2,593

Households

1.8

Avg Household Size

42

Median Age

14%

College-Educated

85%

High-School Grad

60.3 sq mi

ZIP Area

78

Density / Sq Mi

$61,599

Median Household Income

$39,271

Median Earnings

$795

Median Rent

$185,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - A roadside commercial building is paired with two electrified outbuildings and multiple points of entry.

Where is this retail space located?

The property is located at 3522 N State Road 13 Pierceton, IN.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: 12.6 acres, with approximately 80% of improved acreage cleared and graded; 2,365‑square‑foot commercial building; built in 1955; 180 feet of frontage on State Road 13