Flex Space with Overhead
For Sale
Contact for pricing
Pending
611 S Huntington St, Syracuse, IN 46567
Versatile flex building with a storefront hair salon frontage and rear warehouse/shop space, served by two 10-foot overhead doors.
Property Size3,330 SF
Days on Market157
Property Features for 611 S Huntington St
General Information
Standard status
Pending
Size
3,330 SF
Property subtype
Industrial, Mixed Use, Retail, Self Storage
Zoning
Commercial
Lease Type
Gross
Additional Details
Drive-In Doors
2
Building Details
Year Renovated
1990
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Results
Listed By:
Steve Miller · License #IN CO88900013
(574) 238-1436
Source:
Crexi
Added: Apr 2
Changed: Aug 8
Last Checked: Jul 25 at 10:59AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
Located at 611 S Huntington St, Syracuse, IN 46567, this well-maintained 3,300-square-foot commercial building offers a dual-purpose layout with a professional hair salon in the front and warehouse plus commercial shop space in the rear. The space is designed for practical day-to-day operations, with two 10-foot overhead doors providing access to the back portion of the building.
The property sits on a high-traffic street for strong street-level exposure. A solid roof and structure are in place, and the building is presented as move-in ready for an owner-operator or other buyer seeking a flexible setup that combines customer-facing space with back-of-house warehouse functions.
The property sits on a high-traffic street for strong street-level exposure. A solid roof and structure are in place, and the building is presented as move-in ready for an owner-operator or other buyer seeking a flexible setup that combines customer-facing space with back-of-house warehouse functions.
Key Highlights
- 3,300 SF versatile commercial building on a high‑traffic street
- Front space is currently a professional hair salon with storefront frontage
- Rear includes warehouse and commercial shop space with a dual‑purpose layout
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
$19,124
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
8.31%
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%
$382,480
$382.5K
Cap Rate 7%
$273,200
$273.2K
Cap Rate 9%
$212,489
$212.5K
Market Conditions
NOI Build-Up for 3,330 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
$31.6K $9.48/SF
− Vacancy
−$2.1K −$0.64/SF
EGI
$29.4K $8.84/SF
− OpEx
−$10.3K −$3.09/SF
NOI
$19.1K $5.74/SF
Area
Kosciusko County, IN
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$382,480
Cap Rate 7%
$273,200
Cap Rate 9%
$212,489
Alternative Uses
Best Use
Retail
$482.3K
$422.1K – $562.7K
NOI $33,764 @ 7.0% cap · market cap 14.68%
Second Best
Flex RnD
$273.2K
$239.1K – $318.7K
NOI $19,124 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$580.1K
$507.6K – $676.8K
NOI $40,610 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex building with a storefront hair salon frontage and rear warehouse/shop space, served by two 10-foot overhead doors.
Where is this flex space located?
The property is located at 611 S Huntington St Syracuse, IN.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 3,300 SF versatile commercial building on a high‑traffic street; Front space is currently a professional hair salon with storefront frontage; Rear includes warehouse and commercial shop space with a dual‑purpose layout
