Add Listing
    For Sale
    • 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

    2605 Marion Dr Kendallville, IN 46755

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Manufacturing-ready industrial property with significant office and mezzanine space.

    Type:Industrial
    Property size:
    179,160 SF
    Lot size:
    24.19 Acres
    Added:
    Nov 7, 2024
    Days on Market:
    520
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 2605 Marion Dr

    General Information

    Standard status
    Active
    Size
    179,160 SF
    Lot size
    24.19 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    Steven Zacher

    Listing agent Steven Zacher License #IN RB14014906

    Listing office The Zacher Company

    Listing date Nov 7, 2024

    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 The Zacher Company

    Overview

    Kendallville Industrial Property For Sale

    Located at 2605 Marion Dr. in Kendallville, IN, this industrial property is suited for manufacturing purposes. The facility includes 13,800 square feet of office space, a break room, and restrooms, along with a 20,000 square foot mezzanine. The east warehouse features a 27-foot ceiling height, the middle section has a 20-foot ceiling height, and the west section offers a 17-foot ceiling height. The property is equipped with ESFR/AFFF sprinkler systems and compressed air. It is also fully air conditioned. The property is situated on two parcels of land, one spanning 15.27 acres and the other 8.92 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Pharmacy Auto Parts Store Department Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Kendallville
    County
    Noble
    State
    Indiana
    Longitude
    -85.219628
    Latitude
    41.441145

    Nearby Similar for Sale

    • $420,000

      Kendallville Industrial Building on State Road

      5,461 sq ft commercial/industrial building on 0.53 acres.
      701 Krueger Street, Kendallville, IN 46755-1119
      View Details
    • $174,900

      Historic Mixed-Use Building, Kendallville, IN

      Iconic 4,800 SF mixed-use building in historic downtown Kendallville.
      101 N Main Street, Kendallville, IN 46755
      View Details
    • $364,000

      Historic Theater in Downtown Kendallville

      Well-known commercial building in high-visibility downtown location.
      221 S Main Street, Kendallville, IN 46755
      View Details
    • $209,900

      Downtown Kendallville Commercial Retail Building

      Prime commercial building in downtown Kendallville, zoned C1 retail.
      104 S Main Street, Kendallville, IN 46755
      View Details
    • $210,000

      Kendallville Mixed-Use Brick Building

      Free-standing brick building with retail and residential opportunity.
      111 E Rush Street, Kendallville, IN 46755-1737
      View Details
    • $210,000

      Kendallville House of Worship For Sale

      House of worship with seating, classrooms, kitchen, dining area.
      321 E Mitchell Street, Kendallville, IN 46755
      View Details
    • $209,999

      Historic Downtown Mixed-Use Opportunity

      6,000+ sq ft commercial property with endless potential.
      211/213 S Main Street, Kendallville, IN 46755
      View Details
    • $625,000
      2,640 SF

      Kendallville Commercial Property For Sale

      Former car lot with showroom, offices, and garage area.
      2505 E North St, Kendallville, IN 46755
      View Details
    • $1,900,000
      36,100 SF

      Kendallville Warehouse with Planned Roof

      Industrial warehouse in Kendallville, Indiana, with new roof planned.
      6886 N 400 E, Kendallville, IN
      View Details
    • $9,350,000
      63,900 SF

      Kendallville Age-Restricted Apartment Community

      74-unit multifamily property for sale in Kendallville, Indiana.
      1320 Knoll Crest Dr., Kendallville, IN 46755
      View Details
    • $1,840,000
      684 SF

      Scooter’s Coffee NNN Investment Opportunity

      Absolute NNN lease with corporate guaranty and rental increases.
      621 E N St, Kendallville, IN
      View Details
    • $2,475,000
      71,000 SF

      71,000 SF Industrial Building

      Industrial building on 4.12 acres available for sublease or sale.
      1101 Stonebraker Dr, Kendallville, IN
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - Manufacturing-ready industrial property with significant office and mezzanine space.
    Where is this manufacturing property located?
    The property is located at 2605 Marion Dr Kendallville, IN.
    What is the asking price?
    The asking price for this property is $8,600,000.
    What are key features of this property?
    This property features: Ideal for manufacturing with varied ceiling heights: 27' (east), 20' (middle), and 17' (west).; Equipped with ESFR/AFFF sprinkler systems, compressed air, and is fully air conditioned.; Large 15.27‑acre and 8.92‑acre parcels offer ample space for operations and expansion.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steven Zacher
    Real Estate License ID: IN RB14014906
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!