Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3620 Commerce Dr Warsaw, IN 46580

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3620 Commerce Dr Warsaw, IN 46580

    View on Map
    • Neighborhood centers
    • 31,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Uniforms & More / (Bike/Boat/Book/etc) Store

    Property Details for 3620 Commerce Dr

    Year built
    1986
    Property size
    31,000 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Woodland Plaza Shopping Center, located at 3620-3656 Commerce Drive in Warsaw, Indiana, presents a prime retail opportunity. This 31,000 square foot strip center, built in 1986, offers 15 suites with ample parking (170 spaces). Currently, there are 9,400 square feet of vacant space available for lease, divisible into units ranging from a minimum of 1,200 square feet to a maximum contiguous space of 4,800 square feet. The property is zoned C-3 (Arterial Commercial), ensuring high visibility and accessibility for businesses. Its location in Kosciusko County, Indiana, provides excellent access to a thriving community. The center's existing infrastructure and ample parking make it an ideal location for a variety of retail uses. This is a chance to establish or expand your business in a well-established shopping center with significant foot traffic potential. The property's strategic location and flexible space options make it an attractive investment for businesses seeking a strong presence in the Warsaw market. Contact us today to learn more about leasing opportunities and explore the possibilities of establishing your business at Woodland Plaza. The property's address is 3620-3656 Commerce Drive, Warsaw, IN 46580.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Warsaw
    County
    Kosciusko
    State
    Indiana
    Longitude
    -85.8034
    Latitude
    41.2302

    Comparable in this City

    • Value Estimation by Request
      11,557 SF

      388 Enterprise Dr

      SHOPPING CENTER, STRIP CENTER • 11,557 SF
      388 Enterprise Dr, Warsaw, IN 46580-2294
      View Details
    • Value Estimation by Request
      16,000 SF

      2882 Frontage Rd

      SHOPPING CENTER, STRIP CENTER • 16,000 SF
      2882 Frontage Rd, Warsaw, IN 46580-3912
      View Details
    • Value Estimation by Request
      5,202 SF

      3706 Lk City Hwy

      SHOPPING CENTER, STRIP CENTER • 5,202 SF
      3706 Lk City Hwy, Warsaw, IN 46580-3938
      View Details
    • Value Estimation
      $885,000
      49,712 SF

      540 Market St

      SHOPPING CENTER, STRIP CENTER • 49,712 SF
      540 Market St, Warsaw, IN 46580-3309
      View Details
    • Value Estimation by Request
      15,000 SF

      711 Winona Ave

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      711 Winona Ave, Warsaw, IN 46580-4508
      View Details
    • Value Estimation
      $995,000
      35,634 SF

      2874 Frontage Rd

      SHOPPING CENTER, STRIP CENTER • 35,634 SF
      2874 Frontage Rd, Warsaw, IN 46580-3912
      View Details

    Similar Nearby for Sale

    • $4,784,615
      14,480 SF

      Walgreens Investment Opportunity

      Established Walgreens in Warsaw, IN. Excellent location & strong lease.
      2400 E Center St, Warsaw, IN 46580
      View Details
    • Contact for pricing
      800 SF

      Downtown Retail Space for Sale

      Retail property in downtown Warsaw, Indiana, with high visibility.
      111 N High St, Warsaw, IN 46580
      View Details
    • $385,000
      0.07 Acres

      Downtown Warsaw Corner Building

      Corner building with retail and apartment in downtown Warsaw.
      123 W Center St, Warsaw, IN 46580
      View Details
    • $569,000
      4,400 SF

      Versatile Warsaw Property with High Visibility

      Adaptable property suitable for office, retail, or residential use.
      1015 E Center St, Warsaw, IN 46580
      View Details
    • $199,900

      Downtown Warsaw Retail Opportunity

      Affordable storefront in growing downtown Warsaw with high exposure.
      112 W Market St, Warsaw, IN 46580
      View Details
    • $795,000
      0.07 Acres

      Historic Warsaw Commercial Building

      Three-story building in downtown Warsaw with retail and office potential.
      207 S Buffalo St, Warsaw, IN 46580
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      2,000 SF

      Retail Center Suites Available

      Multiple suites in a 15-unit retail center for lease.
      3620-3646 Commerce Dr, Warsaw, IN 46580
      View Details
    • $12 SF/Yr

      Retail Center in Warsaw, Indiana

      Retail spaces available in a 15-unit center with high traffic.
      3620 Commerce Dr, Warsaw, IN 46580
      View Details
    • Contact for pricing

      Retail Space in Warsaw Center

      Anchored shopping center with diverse tenant mix in Warsaw.
      3300 Lake City Hwy, Warsaw, IN 46580
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail spaces available for lease at Commerce Drive, Warsaw.
      3620 Commerce Dr, Warsaw, IN 46580
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      1200 Lake City Hwy, Warsaw, IN 46580
      View Details
    • $5 SF/Yr
      16,046 SF

      Versatile Building on US-30

      Adaptable building suitable for office, retail, and flex-type uses.
      2691 Us Highway 30, Warsaw, IN 46580
      View Details
    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.
    3620 Commerce Dr
    Warsaw, IN 46580
    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!