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    Free-Standing Medical Office Building Title is generated by Realmo AI

    824 HUNTINGTON AVE, Warren, IN 46792

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    Vacant, free-standing building with two ingress/egress points, strong frontage, and 27 surface parking spaces.

    Type:Retail, Office
    Property size:
    3,170 SF
    Lot size:
    1.71 Acres
    Price / SF:
    $47/SF
    Added:
    May 31, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 6 at 5:33 am

    Property Features for 824 HUNTINGTON AVE

    General Information

    Standard status
    Active
    Size
    3,170 SF
    Lot size
    1.71 Acres
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Philip Kates

    Listing agent Philip Kates License #FL 3235872

    Listing office Marcus & Millichap - Fort Lauderdale

    Listing date May 31, 2026

    Source Crexi

    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 Marcus & Millichap - Fort Lauderdale

    HighLights

    • Vacant, free‑standing retail/medical office building built in 1962 at 824 Huntington Avenue, Warren, IN 46792
    • 3,170 SF building on 1.71‑acre parcel (74,705 SF) with 27 surface parking spaces
    • 1198 ft of frontage on N Huntington Avenue with two ingress/egress points at a hard corner entrance to Warren Professional Office Park
    • Monument signage and strong visibility along N Huntington Avenue, which carries more than 3,000 vehicles per day
    • Zoned POD (Professional Office District), supporting a wide range of professional services and office uses
    • Approximately 3 minutes from I‑69; Fort Wayne ~40 minutes north, Muncie ~50 minutes, Indianapolis ~90 minutes

    Overview

    Built in 1962, this vacant, free-standing medical/office property totals approximately 3,170 SF on a 1.71-acre parcel. The site includes 27 surface parking spaces and features two points of ingress/egress. Previously occupied by Lutheran Health Physicians, the building offers an existing medical/office foundation suited to owner-users, adaptive reuse, or repositioning.

    The property is positioned at the entrance to Warren Professional Office Park on a hard corner along one of Warren’s primary thoroughfares. It provides 198 feet of frontage along N Huntington Avenue and includes monument signage. The remarks note convenient access and strong visibility, with N Huntington Avenue carrying more than 3,000 vehicles per day. The property is also described as being approximately three minutes from I-69, with Fort Wayne about 40 minutes north and Muncie and Indianapolis about 50 and 90 minutes away, respectively.

    Zoned POD (Professional Office District), the property is presented as flexible for a range of professional services. With the building previously leased on a full-service basis and described as an opportunity for re-tenanting, it may suit tenants seeking a stand-alone medical/office presence and investors or operators evaluating re-lease strategies in an existing professional setting. CoStar is cited in the remarks with office rental rate estimates in the $14 to $17/SF (FS) range.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Riverside Veterinary Clinic — 160 S Wayne St, Warren, IN 46792
    • Vita Vet Labs — 159 Dogwood Dr, Warren, IN 46792

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Huntington
    State
    Indiana
    Longitude
    -85.4279884
    Latitude
    40.6891251

    Nearby Similar for Sale

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      Office Space For Sale

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    • $149,000
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      Historic Church in Downtown Warren

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    FAQs

    What type of property is this?
    Medical Office Space - Vacant, free-standing building with two ingress/egress points, strong frontage, and 27 surface parking spaces.
    Where is this medical office space located?
    The property is located at 824 HUNTINGTON AVE Warren, IN.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Vacant, free‑standing retail/medical office building built in 1962 at 824 Huntington Avenue, Warren, IN 46792; 3,170 SF building on 1.71‑acre parcel (74,705 SF) with 27 surface parking spaces; 1198 ft of frontage on N Huntington Avenue with two ingress/egress points at a hard corner entrance to Warren Professional Office Park
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Philip Kates
    Real Estate License ID: FL 3235872
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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.

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