Commercial Building in North
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405 N Main St, North Webster, IN 46555
4,500 SF commercial building with retail and warehouse space.
Property Size4,500 SF
Price / SF$64.22
Days on Market191
Property Features for 405 N Main St
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Retail, Industrial
Building Details
Year Built
1985
Listing Agency:
SVN | Parke Group Fort Wayne
(260) 489-8500
Listed By:
Troy Reimschisel · License ##RB14027532
Source:
Crexi
Added: Feb 18
Changed: Aug 28
Last Checked: Aug 21 at 8:39PM
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 SVN | Parke Group Fort Wayne
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 = 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
$21,573
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
7.46%
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%
$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
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
$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 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%
$431,460
Cap Rate 7%
$308,186
Cap Rate 9%
$239,700
Alternative Uses
Best Use
Retail
$651.8K
$570.4K – $760.5K
NOI $45,628 @ 7.0% cap · market cap 15.79%
Second Best
Mixed Use
$403.6K
$353.1K – $470.8K
NOI $28,249 @ 7.0% cap · market cap 9.77%
Theoretical Best
Office A
$784.0K
$686.0K – $914.6K
NOI $54,878 @ 7.0% cap · market cap 18.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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.
