Former Grocery and Gas
5418 S State Road 109 Columbia City, IN 46725
For Sale
Contact for pricing
7,920 SF former grocery and gas station on 4.72 acres along State Road 109, zoned C2 for general commercial use.
Property Size7,920 SF
Lot Size4.72 Acres
Price / SF$133.52
Days on Market276
Property Features for 5418 S State Road 109
General Information
Standard status
Active
Size
7,920 SF
Lot size
4.72 Acres
Property subtype
RETAIL
Listing Agency:
BND Commercial, LLC
(260) 410-3627
Listed By:
Karl Behrens
(260) 410-3627
Source:
Moodyscre
Added: Oct 27, 2025
Changed: Jul 27
Last Checked: Jul 28 at 1:53PM
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 BND Commercial, LLC
Investment Insights
Based on property information with market context.
This property includes a 7,920 SF former grocery and gas station building situated on 4.72 acres along State Road 109 in Columbia City. The site is zoned C2 – General Commercial and is positioned for flexible redevelopment, including convenience store or retail redevelopment, as well as mixed-use options. Existing site improvements include ample paved parking and existing gas infrastructure.
The property benefits from high-visibility exposure on State Road 109 along Big Lake, with proximity to US 33 and US 30 providing access to surrounding communities and through-traffic.
The offering also notes flexible parcel options for sale, which may allow for customized investment or redevelopment planning.
The property benefits from high-visibility exposure on State Road 109 along Big Lake, with proximity to US 33 and US 30 providing access to surrounding communities and through-traffic.
The offering also notes flexible parcel options for sale, which may allow for customized investment or redevelopment planning.
Key Highlights
- 7,920 SF former grocery and gas station on 4.72 acres along State Road 109 in Columbia City
- Zoned C2 – general commercial, suitable for convenience store, retail redevelopment, or mixed‑use use
- High‑visibility location on Big Lake with strong local traffic exposure
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.4k | $15.96 |
| − Vacancy | −$9.5k | −$1.20 |
| EGI | $116.9k | $14.76 |
| − OpEx | −$29.2k | −$3.69 |
| NOI | $87.7k | $11.07 |
7,920 SF · lease $15.96/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,692 @ 7.0% cap · market cap 8.29%
Second Best
Retail
$1.09M
$951.1K – $1.27M
NOI $76,091 @ 7.0% cap · market cap 7.20%
Theoretical Best
Multifamily LT 5
$6.62M
$5.79M – $7.72M
NOI $463,135 @ 7.0% cap · market cap 43.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - 7,920 SF former grocery and gas station on 4.72 acres along State Road 109, zoned C2 for general commercial use.
Where is this grocery and convenience store located?
The property is located at 5418 S State Road 109 Columbia City, IN.
What is the asking price?
The asking price for this property is $1,057,500.
What are key features of this property?
This property features: 7,920 SF former grocery and gas station on 4.72 acres along State Road 109 in Columbia City; Zoned C2 – general commercial, suitable for convenience store, retail redevelopment, or mixed‑use use; High‑visibility location on Big Lake with strong local traffic exposure
