Building Details

Year Built 1984

Buildings 2

Listing Agency: Metzger Property Services, LLC

Listed By: Chad Metzger · License #RB14045939 Show Phone

Source: Callcriswell

Added: Aug 3 Changed: Oct 9 Last Checked: Oct 12 at 11:01PM

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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 Metzger Property Services, LLC

Investment Insights

Based on property information with market context.

This 2,320-square-foot commercial property includes two buildings: an updated storefront with lake-inspired interior décor and a separate pole barn. The main building is configured for convenience-oriented retail, while the additional structure provides space for inventory, equipment, storage, or workshop activities. The property was built in 1984 and has been modernized for continued commercial use.

Located at 3774 N Barbee Rd in Warsaw, the site serves the Barbee Chain of Lakes area. Its setting supports a retail operation focused on snacks, ice, boating supplies, ice cream, and everyday necessities. The two-building layout also provides flexibility for organizing customer-facing retail and back-of-house functions across separate structures.

Key Highlights

• 2,320 SF commercial property with two buildings
• Updated storefront with lake‑inspired interior décor
• Separate pole barn for storage, inventory, equipment, or workshop use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,524

Cap Rate

9.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$470,480 $470.5K

Cap Rate 7%

$336,057 $336.1K

Cap Rate 9%

$261,378 $261.4K

Market Conditions

NOI Build-Up for 2,320 SF

Gross rent

$35.1K $15.12/SF

− Vacancy

−$1.5K −$0.64/SF

EGI

$33.6K $14.48/SF

− OpEx

−$10.1K −$4.35/SF

NOI

$23.5K $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%

$470,480

Cap Rate 7%

$336,057

Cap Rate 9%

$261,378

Alternative Uses

Best Use

Specialty Retail

$357.2K

$312.6K – $416.7K (±1% cap)

NOI $25,004 @ 7.0% cap · market cap 9.62%

Second Best

Retail

$336.1K

$294.1K – $392.1K (±1% cap)

NOI $23,524 @ 7.0% cap · market cap 9.05%

Theoretical Best

Office A

$404.2K

$353.7K – $471.6K (±1% cap)

NOI $28,293 @ 7.0% cap · market cap 10.88%

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

Property Analytics

Current Use

WAKE N LAKE Grocery & Convenience Store Jot'em Down Store Grocery & Convenience Store

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Electrical Service Kitchen & Bath Showroom Big Box & Wholesale Store Grocery & Convenience Store

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

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Balanced

Demand for This Use

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 Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Two-building commercial property with a storefront and separate pole barn for storage or workshop use.

Where is this grocery and convenience store located?

The property is located at 3774 N Barbee Rd Warsaw, IN.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: 2,320 SF commercial property with two buildings; Updated storefront with lake‑inspired interior décor; Separate pole barn for storage, inventory, equipment, or workshop use