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    Butler Office Building For Rent Title is generated by Realmo AI

    408 E Washington St, Butler, IN 46721

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    Claim this Listing
    For Lease
    $14 SF/Yr $9,668/Mo (calc)

    8,287 SF office building suitable for various uses.

    Type:Office - General Office
    Property size:
    8,287 SF
    Added:
    May 14, 2026
    Days on Market:
    20
    Last Refresh:
    May 14 at 6:01 am

    Property Features for 408 E Washington St

    General Information

    Standard status
    Active
    Size
    8,287 SF
    Property subtype
    Office - General Office

    Building Details

    Year Built
    1992

    Spaces For Lease

    at 408 E Washington St Contact us

    We can help!

    Listing Contact
    Gary Buschman

    Listing agent Gary Buschman

    Listing office NAI Hanning & Bean

    Listing date May 14, 2026

    Source Commercialcafe

    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 NAI Hanning & Bean

    HighLights

    • Originally built as a daycare facility, the 8,287 sq ft building is ideally suited for childcare, educational programs, or community‑focused uses.
    • Features a fully equipped commercial kitchen and several large activity rooms, offering flexibility for various operational needs.
    • Conveniently located on E. Washington Street in Butler, Indiana, directly across from Eastside Jr./Sr. High School.
    • Functional layout adaptable for classrooms, offices, training areas, or community programming.
    • Includes five restrooms and ample interior space.
    • Easy access to nearby neighborhoods, local amenities, Auburn, and Interstate 69.

    Overview

    Located on E. Washington Street in Butler, Indiana, the property offers convenient access within the community and surrounding DeKalb County area. Situated directly across from Eastside Jr./Sr. High School, it benefits from proximity to local schools and community activity. Its location within Butler provides convenient access to nearby neighborhoods and local amenities, while remaining a short drive from Auburn and Interstate 69, allowing connectivity to the greater Northeast Indiana region. The site's visibility and proximity to the school campus make it suitable for educational, childcare, or community-focused uses. The 8,287-square-foot office building was originally constructed for use as a day care facility, offering a functional layout well-suited for a variety of educational, community, office, or childcare uses. It features several large activity rooms and a fully equipped commercial kitchen, providing flexibility for a wide range of operational needs. The facility also includes five restrooms and ample interior space that can be adapted for classrooms, offices, training areas, or community programming. Its design and existing infrastructure make it particularly well-suited for childcare, educational programs, or other service-oriented uses.
    Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

    Real Estate Agency Restaurant Dental Office Nail Salon Building Supply Accounting Firm Pharmacy Auto Repair Shop Big Box & Wholesale Store HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Butler
    County
    DeKalb
    State
    Indiana
    Longitude
    -84.866924
    Latitude
    41.431351

    FAQs

    What type of property is this?
    Day care center - 8,287 SF office building suitable for various uses.
    Where is this day care center located?
    The property is located at 408 E Washington St Butler, IN.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Originally built as a daycare facility, the 8,287 sq ft building is ideally suited for childcare, educational programs, or community‑focused uses.; Features a **fully equipped commercial kitchen** and several **large activity rooms**, offering flexibility for various operational needs.; Conveniently located on E. Washington Street in Butler, Indiana, directly across from Eastside Jr./Sr. High School.
    We can help!
    Listing Contact
    Gary Buschman
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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