Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    221 Main St Winchester, IN 47394

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime location, flexible suites, recent renovation.

    Lot size:
    5,400 SF

    Property Features for 221 Main St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,400 SF
    Class
    B
    Total Rate
    4500

    Building Details

    Year Built/Renovated
    1935/2022
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 221 Main St, Winchester, IN 47394 Contact us
    Unit Available Space 1

    $10 /Mo

    Size
    3,700 SF
    Contact us

    We can help!

    Listing Contact
    Alan Stamper
    Alan Stamper

    Listing Agent: Alan Stamper

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property at 221 N Main St, Winchester, IN, offers 5,400 square feet of versatile office space in a renovated building. Located in Randolph County, this single-story, Class B building boasts a prime location on a busy Winchester street. Built in 1935 and extensively renovated in 2022, the property features three suites, with a minimum divisible space of 800 square feet and a maximum contiguous space of 3,700 square feet currently available. The total vacant space is 3,700 square feet, ideal for a single tenant or multiple occupants. The 0.35-acre lot provides ample parking. The property is zoned C1 Commercial, allowing for a variety of office or retail uses. This is a rare opportunity to secure a well-maintained, conveniently located office space in a thriving community. The building's recent renovation ensures modern amenities and functionality. Its central location and flexible layout make it suitable for a wide range of businesses. Don't miss this chance to establish your presence in a vibrant commercial area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Winchester
    County
    Randolph
    State
    Indiana
    Longitude
    -84.981307643731
    Latitude
    40.174240465731

    Nearby Similar for Lease

    • $12 SF/Yr
      1,300 SF

      Winchester Office or Retail Space

      High-traffic location with offices, lobby, and showcase windows.
      957 E Washington St, Winchester, IN 47394
      View Details
    • $650 /Mo
      15,246 SF

      Winchester Parking Lot For Lease

      Convenient parking lot for lease near established businesses in Winchester.
      302 N Main St, Winchester, IN 47394
      View Details
    • $2,104,760

      Taco Bell NNN Lease Property

      Long-term NNN-leased Taco Bell in Winchester, Indiana.
      951 E Greenville Pike, Winchester, IN 47394
      View Details
    • $6 SF/Yr

      Retail Space on Highway 32

      Highly visible retail space in a bustling Winchester shopping center.
      918 E Washington St, Winchester, IN 47394
      View Details
    • $950 /Mo
      7,475 SF

      Downtown Winchester Office Building

      Office building with customizable space in downtown Winchester, Indiana.
      108 S Meridian St, Winchester, IN 47394
      View Details

    FAQs

    What type of property is this?
    Office space - Prime location, flexible suites, recent renovation.
    Where is this office space located?
    The property is located at 221 Main St Winchester, IN.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 5,400 SF of versatile office space in a renovated building at 221 N Main St, Winchester, IN.; Single-story, Class B building on a busy street in Randolph County.; Three suites available, with 3,700 SF of contiguous space currently vacant, divisible to 800 SF minimum.
    (727) 771-8773 Call to check price and availability
    Request Owner's contact information
    221 Main St Winchester, IN 47394
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    221 Main St
    Winchester, IN 47394
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    221 Main St Winchester, IN 47394
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alan Stamper
    Alan Stamper
    Real Estate License ID: RB16001438
    (727) 771-8773 (727) 443-0032 (765) 966-1581
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!