Office Building with Backup
New
For Sale
$325,000
3790 E Lake City Hwy, Warsaw, IN 46580
Dedicated server-room circuits and standby power support technology-dependent operations.
Property Size1,848 SF
Price / SF$175.87
Days on Market2
Property Features for 3790 E Lake City Hwy
General Information
Standard status
Active
Size
1,848 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
high-visibility signage
industrial-grade power upgrades
mini-split system
dedicated server room
full-house standby backup generator
Building Details
Year Built
1956
Buildings
1
Building Size
1,848 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
Patton Hall Real Estate
Listed By:
Jeff Owens · License #RB14026136
(574) 527-1387
Source:
Callcriswell
Added: Sep 24
Last Checked: Sep 24 at 2:04PM
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 Patton Hall Real Estate
Investment Insights
Based on property information with market context.
This 1,848-square-foot office property, built in 1956, has a central reception or open work area measuring nearly 25' x 26', several private offices, and an 11' x 27' executive suite. The layout also includes a kitchen and dining area with pantry storage, a separate storage room, and restroom facilities. Upgrades include an 18,000 BTU mini-split system, dedicated server-room circuits, industrial-grade power, and a standby generator on an exterior concrete pad.
The building is on Highway 30 in Warsaw, with highway access and dedicated parking. Fort Wayne is under 50 minutes away by car, and South Bend is approximately 55 minutes away. The current tenant is scheduled to vacate October 1st, 2026.
The building is on Highway 30 in Warsaw, with highway access and dedicated parking. Fort Wayne is under 50 minutes away by car, and South Bend is approximately 55 minutes away. The current tenant is scheduled to vacate October 1st, 2026.
Key Highlights
- 1,848‑square‑foot office building, built in 1956
- Open central area measuring nearly 25' x 26'
- Executive office measures 11' x 27'
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,254
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,080
$345.1K
Cap Rate 7%
$246,486
$246.5K
Cap Rate 9%
$191,711
$191.7K
Market Conditions
NOI Build-Up for 1,848 SF
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.
Gross rent
$29.5K $15.96/SF
− Vacancy
−$6.5K −$3.51/SF
EGI
$23.0K $12.45/SF
− OpEx
−$5.8K −$3.11/SF
NOI
$17.3K $9.34/SF
Area
Kosciusko County, IN
Vacancy
22.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,080
Cap Rate 7%
$246,486
Cap Rate 9%
$191,711
Alternative Uses
Best Use
Office B
$246.5K
$215.7K – $287.6K
NOI $17,254 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$321.9K
$281.7K – $375.6K
NOI $22,536 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Explore this area
Business Placement
Demographics for 46580, IN
22,381
Population
8,873
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
71.1 sq mi
ZIP Area
315
Density / Sq Mi
$70,978
Median Household Income
$40,231
Median Earnings
$963
Median Rent
$175,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Dedicated server-room circuits and standby power support technology-dependent operations.
Where is this office building located?
The property is located at 3790 E Lake City Hwy Warsaw, IN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,848‑square‑foot office building, built in 1956; Open central area measuring nearly 25' x 26'; Executive office measures 11' x 27'
