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    539 N Line St Columbia City, IN 46725

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    For Lease
    $12 SF/Yr

    Retail space available in Columbia Plaza strip center off US 30.

    Property size:
    19,940 SF
    Added:
    Jan 27, 2026
    Days on Market:
    66
    Last Refresh:
    Jan 6 at 9:13 pm

    Property Features for 539 N Line St

    General Information

    Standard status
    Active
    Size
    19,940 SF

    Building Details

    Year Built
    1985

    Spaces For Lease

    at 539 N Line St Contact us

    We can help!

    Listing Contact
    Melissa Perme

    Listing agent Melissa Perme License #IN RB14003860

    Listing office Bradley Company | Fort Wayne

    Listing date Jan 27, 2026

    Source Bradleyco

    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 Bradley Company | Fort Wayne

    Overview

    Retail Space For Lease

    Located just off US 30, the Columbia Plaza strip center offers retail space for lease. This newly renovated 19,940 square foot neighborhood shopping center is adjacent to U.S. 30 at a signalized intersection. Tenants include T-Mobile, H&R Block, Division of Family Resources, Transcat Medical, and Neighborhood Health Clinics. The center is shadow-anchored by Aldi Foods, which occupies a newly renovated 22,185 square foot freestanding building with a long-term lease. Pylon signage is available along U.S. 30. The location is 14 miles west of the new Amazon warehouse and Sweetwater Sound. It is a prime location for restaurants, home improvement, and other retail or service businesses. Two new white box suites are available.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia City
    County
    Whitley
    State
    Indiana
    Longitude
    -85.4932
    Latitude
    41.168

    Nearby Similar for Lease

    • $22/mo

      Retail Space on 1.47 Acres

      14,820 SF retail space for lease until July 2030.
      535 N Line St, Columbia City, IN
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      Retail Space in Columbia City

      Retail space for lease in the heart of Columbia City.
      405 N Line St, Columbia City, IN
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      New Industrial Facility in Columbia

      New construction industrial facility with customizable space, available Summer 2024.
      1035 Rogers Drive, Columbia City, IN, Columbia City, IN 46725
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      Retail Space in Columbia Square

      Retail space available in Columbia City's Columbia Square.
      621 Countryside Dr, Columbia City, IN
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    • Contact for pricing

      Retail Space in Columbia City

      Retail space for lease in Columbia Plaza strip center.
      539 N Line St, Columbia City, IN 46725
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space available in Columbia Plaza strip center off US 30.
    Where is this strip mall located?
    The property is located at 539 N Line St Columbia City, IN.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Prime location adjacent to U.S. 30 at a signalized intersection.; Shadow‑anchored by Aldi Foods with a long‑term lease.; Two newly renovated "white box" suites available.
    (260) 423-4311
    We can help!
    Listing Contact
    Melissa Perme
    Real Estate License ID: IN RB14003860
    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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