Multi-Use Office Building with
832 E Center Street Warsaw, IN 46580
For Sale
$1,475,000
COMMERCIAL - Warsaw, IN
Property Size17,508 SF
Lot Size1.83 Acres
Price / SF$84.25
Days on Market51
Property Features for 832 E Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Standard status
Active
APN
43-11-08-200-195.000-032
Lot size
1.83 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
004-044-342 LOTS 11,12,13 & 14 & TR W LOTS .80A LONG & LIGHTFOOT ADD 004-044-358 6 1/2' Vac Alley S Lots 9 & 10 & Lots 9 & 10 Long & Lightfoot's Add Replat 004-044-340 N 60 Ft Lots 15 & 16 & Pt Vac Alley & Stp Long & Lightfoot's Add Replat
Utilities
Cooling system
Multi Units
Building Details
Year built
1953
Flooring type
Vinyl, Stone, Tile, Carpet
Roof type
Asphalt
Listing Agency:
RE/MAX Results
(574) 269-6911
Listed By:
Steve Savage · License #RB14027643
(574) 253-1313
Added: Jun 8
Changed: Jul 6
Last Checked: Jul 28 at 4:06AM
MLS# 202622352
Copyright © 2026 Kosciusko Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 17,508-square-foot multi-use building offers a flexible mix of offices, meeting rooms, classrooms, and storage, supported by six bathrooms. The property includes a large commercial-style kitchen with commercial-sized appliances, along with heating and cooling units that have been updated and maintained. The main level features an auditorium with a balcony, a pipe organ, and an updated audio system with seating for about 275. The building also has a vertical platform lift for handicapped access, leaded stained glass windows with exterior plexiglass protection, and multiple security measures including exterior cameras.
Set on a 1.83-acre parcel in Warsaw, IN, the site includes a large asphalt parking lot with 70 spaces. There is also a 0.47-acre lot included for potential expansion or green space. Exterior improvements include a unique stone façade with mortar joints inspected and re-tucked and sealed with a 50-year sealant completed in 2017, and a new roof installed in 2013 with GAF 40-year warranty shingles.
Designed for organizations that need both workspaces and an event-style venue, this building can support office-based operations alongside classroom or meeting use and a kitchen-equipped operation. With handicapped accessibility and a range of room sizes, it may fit tenants looking for a turnkey, operational facility with substantial built-in capacity and functional support spaces.
Set on a 1.83-acre parcel in Warsaw, IN, the site includes a large asphalt parking lot with 70 spaces. There is also a 0.47-acre lot included for potential expansion or green space. Exterior improvements include a unique stone façade with mortar joints inspected and re-tucked and sealed with a 50-year sealant completed in 2017, and a new roof installed in 2013 with GAF 40-year warranty shingles.
Designed for organizations that need both workspaces and an event-style venue, this building can support office-based operations alongside classroom or meeting use and a kitchen-equipped operation. With handicapped accessibility and a range of room sizes, it may fit tenants looking for a turnkey, operational facility with substantial built-in capacity and functional support spaces.
Key Highlights
- 17,508 SF multi‑use, fully operational building on a 1.83‑acre parcel
- 50‑year sealant work on stone exterior mortar joints completed in 2017
- New asphalt roof with GAF 40‑year warranty shingles installed in 2013
Financial Insights For Industrial
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 | $115.6k | $6.60 |
| − Vacancy | −$5.8k | −$0.33 |
| EGI | $109.8k | $6.27 |
| − OpEx | −$32.9k | −$1.88 |
| NOI | $76.8k | $4.39 |
17,508 SF · lease $6.60/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$2.70M
$2.36M – $3.14M
NOI $188,692 @ 7.0% cap · market cap 12.79%
Second Best
Office B
$2.34M
$2.04M – $2.72M
NOI $163,465 @ 7.0% cap · market cap 11.08%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,511 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Multi-use office building with a large commercial kitchen and main-level auditorium seating about 275.
Where is this office building located?
The property is located at 832 E Center Street Warsaw, IN.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 17,508 SF multi‑use, fully operational building on a 1.83‑acre parcel; 50‑year sealant work on stone exterior mortar joints completed in 2017; New asphalt roof with GAF 40‑year warranty shingles installed in 2013
