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    Renovated Retail Building on State Road Title is generated by Realmo AI

    608 N Jefferson Street, Silver Lake, IN 46982

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    For Sale
    $73,000

    Retail, Retail,Shopping - Silver Lake, IN

    Type:Retail
    Lot size:
    0.17 Acres
    Added:
    Jan 6, 2026
    Days on Market:
    122
    Last Refresh:
    May 8 at 11:06 pm

    Property Features for 608 N Jefferson Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    Commercial
    Bathrooms
    1
    Rooms
    Bathroom 1, Kitchen
    Parking
    6
    Parking features
    Paved or Surfaced
    Interior features
    Metal, Wood, Other, Display Room
    Exterior features
    Display Room
    Standard status
    Active
    APN
    43-18-05-300-032.000-014
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    894.16

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1974
    Floors in Building
    1
    Flooring type
    Vinyl, Wood
    Building materials
    Block, Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Chad Metzger

    Listing agent Chad Metzger License #RB14045939

    Listing office Metzger Property Services, LLC 1582 W. State Road 114, North Manchester, IN

    Listing date Jan 6, 2026

    MLS# 202600460 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High Traffic Location: Situated on State Road 15 with an average daily traffic count of 5,733 vehicles.
    • Renovated and Move‑In Ready: Freshly updated commercial retail building.
    • Rustic Charm: The store is designed with a rustic aesthetic.
    • Functional Space: Includes a retail/showroom area, quaint kitchen, and utility room.
    • Low Maintenance: Features a durable metal roof.
    • Convenient Location: Located just minutes from Warsaw.

    Overview

    This renovated commercial retail building is located on State Road 15. The property features a retail/showroom space, a kitchen area, and a utility room. A metal roof provides for easy maintenance. The location on State Road 15 has an average daily traffic count of 5,733 vehicles. The property is located minutes from Warsaw. The lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Olde House Bakery ... Bakery

    Suggested Use

    Restaurant Big Box & Wholesale Store Auto Parts Store Grocery & Convenience Store Bar & Pub Grocery & Convenience Store Cafe & Coffee Shop Bakery Barber Shop Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Silver Lake
    County
    Kosciusko
    State
    Indiana
    Longitude
    -85.892185
    Latitude
    41.078229

    Nearby Similar for Sale

    • $27,000

      Silver Lake Restaurant Opportunity

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    • $149,900

      Silver Lake B&K Drive-In

      Turn-key restaurant opportunity in Silver Lake, Indiana.
      606 N Jefferson St, Silver Lake, IN 46982
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    • $39,500

      Commercial Building in Silver Lake, IN

      Commercial building with high traffic exposure and potential rental dwelling.
      101 E Main St, Silver Lake, IN 46982
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    FAQs

    What type of property is this?
    Storefront property - Updated commercial retail building with rustic charm, move-in ready!
    Where is this storefront property located?
    The property is located at 608 N Jefferson Street Silver Lake, IN.
    What is the asking price?
    The asking price for this property is $73,000.
    What are key features of this property?
    This property features: High Traffic Location: Situated on State Road 15 with an average daily traffic count of 5,733 vehicles.; Renovated and Move‑In Ready: Freshly updated commercial retail building.; Rustic Charm: The store is designed with a rustic aesthetic.
    (260) 982-9050
    We can help!
    Listing Contact
    Chad Metzger
    Real Estate License ID: RB14045939
    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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    608 N Jefferson Street, Silver Lake, IN 46982-8976
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