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    1400 Wabash Ave Rochester, IN 46975

    Sponsored
    For Sale
    $775,000

    66,500 SF Warehouse, Fully Leased

    Property size:
    66,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional 66,500-square-foot industrial warehouse, located at 1400 Wabash Avenue in Rochester, Indiana, presents a compelling investment opportunity. Built in 1948 and renovated in 1970, this single-story building sits on a four-acre lot and is currently fully leased. The structure boasts steel/block construction, concrete floors (6" thick), fluorescent lighting, a sprinkler system, gas and radiant heating, and impressive ceiling heights ranging from 14 to 23 feet. The property features five loading docks, three dock-high doors, and convenient rail access, enhancing its operational efficiency. Power is supplied by 480-volt 3-phase service, and there is on-site parking for 25 vehicles. The property is zoned I-1 and its location near US 31 provides easy access to major metropolitan areas, including South Bend (approximately 45 miles), Indianapolis (approximately 90 miles), and Chicago (approximately 120 miles). This fully leased asset offers a stable income stream and significant potential for long-term growth in a desirable location within Fulton County, Indiana. The property's APN is 25-07-09-352-001.000-009. The asking price is $775,000.

    Property Features for 1400 Wabash Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    66,500 SF
    Lot Size
    174,240 SF

    Building Details

    Year Built/Renovated
    1948/1970
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Noah Davey, CCIM
    Noah Davey, CCIM

    Learn more

    Property Insight Report

    HighLights

    • 66,500 SF industrial manufacturing building, fully leased.
    • Rail access available.
    • Excellent location near US‑31, providing easy access to major cities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Fulton
    State
    Indiana
    Longitude
    -86.203716185417
    Latitude
    41.057700160301

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    FAQs

    What type of property is this?
    Distribution property - 66,500 SF Warehouse, Fully Leased
    Where is this distribution property located?
    The property is located at 1400 Wabash Ave Rochester, IN.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: 66,500 SF industrial manufacturing building, fully leased.; Rail access available.; Excellent location near US-31, providing easy access to major cities.
    Request Owner's contact information
    1400 Wabash Ave Rochester, IN 46975
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    Rochester, IN 46975
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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.

    More about this property
    1400 Wabash Ave Rochester, IN 46975
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    We can help!
    Listing Contact
    Noah Davey, CCIM
    Noah Davey, CCIM
    Real Estate License ID: IN RB14051375
    Learn more
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