Retail Storefront with Central
For Sale
$399,900
507 S Huntington Street, Syracuse, IN 46567
COMMERCIAL, Syracuse, IN
Property Size2,500 SF
Lot Size0.33 Acres
Price / SF$159.96
Days on Market47
Property Features for 507 S Huntington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Howard & Lamm
Directions
Per Google
Standard status
Active
APN
43-04-08-400-515.000-026
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
008-030-031 Lot 34 & S 10' Lot 32,33 & N 30' Lot 33 Village Of Wawasee OP
Tax Annual Amount
2673
Legal Description
008-030-031 Lot 34 & S 10' Lot 32,33 & N 30' Lot 33 Village Of Wawasee OP
Utilities
Cooling system
Central Air
Building Details
Year built
1983
Flooring type
Concrete, Finished
Roof type
Shingle
Listing Agency:
Northern Lakes Realty
(574) 275-3884
Listed By:
Vince Beasley · License #RB14043460
(574) 457-2880
Added: Aug 5
Changed: Sep 13
Last Checked: Sep 20 at 1:06PM
MLS# 202631681
Copyright © 2026 Kosciusko Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail storefront at 507 S Huntington Street in Syracuse, Indiana, offers a finished commercial interior with concrete flooring and central air conditioning. The building was constructed in 1983 and has a shingle roof, providing a straightforward physical configuration for continued storefront operations.
The property sits along State Road 13 in Kosciusko County, with visibility and accessibility identified as key site characteristics. Its established commercial setting in Syracuse has supported gift shop operations and offers a documented context for retail or specialty-shop use.
The property sits along State Road 13 in Kosciusko County, with visibility and accessibility identified as key site characteristics. Its established commercial setting in Syracuse has supported gift shop operations and offers a documented context for retail or specialty-shop use.
Key Highlights
- Storefront retail property at 507 S Huntington Street in Syracuse, IN 46567
- Located along State Road 13 with documented visibility and accessibility
- Finished interior with concrete flooring
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
$25,349
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
6.34%
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%
$506,980
$507.0K
Cap Rate 7%
$362,129
$362.1K
Cap Rate 9%
$281,656
$281.7K
Market Conditions
NOI Build-Up for 2,500 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
$37.8K $15.12/SF
− Vacancy
−$1.6K −$0.64/SF
EGI
$36.2K $14.48/SF
− OpEx
−$10.9K −$4.35/SF
NOI
$25.3K $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 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%
$506,980
Cap Rate 7%
$362,129
Cap Rate 9%
$281,656
Alternative Uses
Best Use
Retail
$362.1K
$316.9K – $422.5K
NOI $25,349 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.5K
$381.1K – $508.1K
NOI $30,488 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Finished interiors, central air, and State Road 13 access support continued retail use.
Where is this storefront property located?
The property is located at 507 S Huntington Street 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: Storefront retail property at 507 S Huntington Street in Syracuse, IN 46567; Located along State Road 13 with documented visibility and accessibility; Finished interior with concrete flooring
