Modern Office Building with GC
For Sale
$865,000
5978 S 600 E, Columbia City, IN 46725
A 2013-built office building offering GC zoning flexibility in Columbia City, IN.
Property Size4,430 SF
Price / SF$195.26
Days on Market117
Property Features for 5978 S 600 E
General Information
Standard status
Active
Size
4,430 SF
Class
C
Property subtype
Office - General Office
Zoning
GC
Building Details
Building Size
4,430 SF
Year Built
2013
Listing Agency:
The Zacher Company
Listed By:
Fletcher S. Moppert · License #ER.000130491
(260) 422-8474
Source:
Commercialcafe
Added: May 14
Changed: Sep 5
Last Checked: Sep 7 at 4:55AM
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 The Zacher Company
Investment Insights
Based on property information with market context.
This office building was constructed in 2013 and contains 4,430 square feet. It’s positioned to support a range of office uses with GC zoning, offering investors and tenants a versatile setup within a modern, purpose-built structure.
Located in Columbia City, Indiana, the property sits in the Out of Allen County market and is described as being close to the historic downtown district, which features dining, retail, and entertainment options. The surrounding area is also described as having strong connectivity to major transportation routes.
For buyers or office users looking for a modern office facility with GC zoning, this property provides a straightforward platform in a commercially oriented part of Columbia City.
Located in Columbia City, Indiana, the property sits in the Out of Allen County market and is described as being close to the historic downtown district, which features dining, retail, and entertainment options. The surrounding area is also described as having strong connectivity to major transportation routes.
For buyers or office users looking for a modern office facility with GC zoning, this property provides a straightforward platform in a commercially oriented part of Columbia City.
Key Highlights
- 4,430 SF office building built in 2013 in Columbia City, IN
- GC zoning offers versatile usage possibilities for office users
- Sale price: $865,000 ($195.25/SF)
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
$48,882
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
5.65%
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%
$977,640
$977.6K
Cap Rate 7%
$698,314
$698.3K
Cap Rate 9%
$543,133
$543.1K
Market Conditions
NOI Build-Up for 4,430 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
$75.5K $17.04/SF
− Vacancy
−$10.3K −$2.33/SF
EGI
$65.2K $14.71/SF
− OpEx
−$16.3K −$3.68/SF
NOI
$48.9K $11.03/SF
Area
Whitley County, IN
Vacancy
13.66%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$977,640
Cap Rate 7%
$698,314
Cap Rate 9%
$543,133
Alternative Uses
Best Use
Office B
$698.3K
$611.0K – $814.7K
NOI $48,882 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.70M
$3.24M – $4.32M
NOI $259,051 @ 7.0% cap · market cap 29.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 46725, IN
23,917
Population
10,435
Households
2.3
Avg Household Size
42
Median Age
25%
College-Educated
93%
High-School Grad
202.8 sq mi
ZIP Area
118
Density / Sq Mi
$76,214
Median Household Income
$47,059
Median Earnings
$907
Median Rent
$216,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - A 2013-built office building offering GC zoning flexibility in Columbia City, IN.
Where is this office building located?
The property is located at 5978 S 600 E Columbia City, IN.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: 4,430 SF office building built in 2013 in Columbia City, IN; GC zoning offers versatile usage possibilities for office users; Sale price: $865,000 ($195.25/SF)
