Storefront Retail
For Sale
$399,900
507 S Huntington St, Syracuse, IN 46567
Flexible retail space offers a substantial footprint for a storefront business.
Property Size2,516 SF
Price / SF$158.94
Days on Market10
Property Features for 507 S Huntington St
General Information
Standard status
Active
Size
2,516 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1983
Listing Agency:
Northern Lakes Realty
Listed By:
Vince Beasley · License #RB14043460
(574) 275-3884
Source:
Kmsrealestategroup
Added: Oct 21
Changed: Oct 28
Last Checked: Sep 14 at 11:22AM
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 Northern Lakes Realty
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Investment Insights
Based on property information with market context.
This Syracuse storefront contains just over 2,500 square feet of retail space in an upgraded floor plan. The Gift Shop at Wawasee operated at the property for several years, establishing a history of retail use. Built in 1983, the building is suited to continued storefront occupancy.
The property is on State Road 13 in Syracuse, Indiana, a corridor described as carrying high traffic. Its position along the road provides access and visibility for commercial activity.
The property is on State Road 13 in Syracuse, Indiana, a corridor described as carrying high traffic. Its position along the road provides access and visibility for commercial activity.
Key Highlights
- Just over 2,500 square feet of retail space
- Located on State Road 13 in Syracuse, Indiana
- The Gift Shop at Wawasee operated at the property for several years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,511
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,220
$510.2K
Cap Rate 7%
$364,443
$364.4K
Cap Rate 9%
$283,456
$283.5K
Market Conditions
NOI Build-Up for 2,516 SF
Gross rent
$38.0K $15.12/SF
− Vacancy
−$1.6K −$0.64/SF
EGI
$36.4K $14.48/SF
− OpEx
−$10.9K −$4.35/SF
NOI
$25.5K $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%
$510,220
Cap Rate 7%
$364,443
Cap Rate 9%
$283,456
Alternative Uses
Best Use
Retail
$364.4K
$318.9K – $425.2K
NOI $25,511 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.3K
$383.5K – $511.4K
NOI $30,683 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 17%
Electronics 3%
Syracuse
Shops & Services
11,498 visits/mo
0.3 miles
Dollar General
Shops & Services
5,290 visits/mo
0.3 miles
SUBWAY
Dining
2,783 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
1,226 visits/mo
0.3 miles
KeyBank
Shops & Services
1,214 visits/mo
0.5 miles
Demographics for 46567, IN
9,773
Population
5,849
Households
1.7
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
57.3 sq mi
ZIP Area
171
Density / Sq Mi
$73,277
Median Household Income
$46,327
Median Earnings
$964
Median Rent
$228,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Pretty Petals Weddings — 311 N Harrison St, Syracuse, IN 46567
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible retail space offers a substantial footprint for a storefront business.
Where is this storefront property located?
The property is located at 507 S Huntington St Syracuse, IN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Just over 2,500 square feet of retail space; Located on State Road 13 in Syracuse, Indiana; The Gift Shop at Wawasee operated at the property for several years
