Building Details

Year Built 1985

Listing Agency: Forge Commercial Advisors

Listed By: Troy Reimschisel · License #IN RB14027532 Show Phone

Source: Crexi

Added: Feb 18 Changed: Oct 6 Last Checked: Oct 12 at 6:07PM

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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 Forge Commercial Advisors

Investment Insights

Based on property information with market context.

This 4,500 SF commercial building is located in the center of North Webster. The building features an open retail area in the front, along with a restroom and storage/warehouse space in the back. This layout provides flexibility for various uses, including retail, professional services, office space, storage, or a showroom/warehouse. Situated on the main highway through North Webster, the property benefits from strong visibility and close proximity to restaurants, community amenities, lake attractions, and shopping, attracting both local residents and tourists. The location offers a prime opportunity for local business owners or investors looking to become part of a thriving commercial community.

Key Highlights

• Prime location in the heart of North Webster with high visibility on the main highway.
• Versatile 4,500 SF commercial building suitable for retail, professional services, office, storage, or showroom/warehouse.
• Flexible layout with open retail area, restroom, and storage/warehouse space.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,573

Cap Rate

7.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$431,460 $431.5K

Cap Rate 7%

$308,186 $308.2K

Cap Rate 9%

$239,700 $239.7K

Market Conditions

NOI Build-Up for 4,500 SF

Gross rent

$27.0K $6.00/SF

− Vacancy

−$1.6K −$0.36/SF

EGI

$25.4K $5.64/SF

− OpEx

−$3.8K −$0.85/SF

NOI

$21.6K $4.79/SF

Area

Kosciusko County, IN

Vacancy

6.00%

Lease Rate

$6.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$431,460

Cap Rate 7%

$308,186

Cap Rate 9%

$239,700

Alternative Uses

Best Use

Retail

$651.8K

$570.4K – $760.5K (±1% cap)

NOI $45,628 @ 7.0% cap · market cap 15.79%

Second Best

Mixed Use

$403.6K

$353.1K – $470.8K (±1% cap)

NOI $28,249 @ 7.0% cap · market cap 9.77%

Theoretical Best

Office A

$784.0K

$686.0K – $914.6K (±1% cap)

NOI $54,878 @ 7.0% cap · market cap 18.99%

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

Property Analytics

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Current Use

Auto Value North ... Auto Parts Store Link Accounting Group Accounting Firm

Suggested Use

Top Pick Building Supply HVAC Service Garden Center Big Box & Wholesale Store Grocery & Convenience Store Law Firm

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

200

Businesses Nearby

Explore this area Business Placement

Demographics for 46555, IN

2,729

Population

1,770

Households

1.5

Avg Household Size

45

Median Age

24%

College-Educated

92%

High-School Grad

10.1 sq mi

ZIP Area

270

Density / Sq Mi

$70,268

Median Household Income

$36,034

Median Earnings

$977

Median Rent

$203,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 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 mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - 4,500 SF commercial building with retail and warehouse space.

Where is this mixed-use property located?

The property is located at 405 N Main St North Webster, IN.

What is the asking price?

The asking price for this property is $289,000.

What are key features of this property?

This property features: Prime location in the heart of North Webster with high visibility on the main highway.; Versatile 4,500 SF commercial building suitable for retail, professional services, office, storage, or showroom/warehouse.; Flexible layout with open retail area, restroom, and storage/warehouse space.