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831 Commerce Dr Kendallville, IN 46755-9388

Office Spaces Google Maps
7,556 SF 0.56 ac lot Built 1993
Entity Owned Absentee Owner Free & Clear
No photos on file
For Sale
Contact for pricing 7,556 SF
831 Commerce Dr, Kendallville, IN 46755-9388
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Estimated value (blended)
$225k
Range $203k – $248k (±10%)
Property ID US31-1804995

Property summary

AI-generated overview

This exceptional 7,556-square-foot medical office building in Kendallville, Indiana presents a unique investment or owner-occupancy opportunity. Built in 1993 and extensively renovated in 2021, the property boasts a single-story design with 18 parking spaces on a 0.56-acre lot. The building is zoned I-2 and features flexible floor plans, accommodating spaces ranging from 150 square feet to the entire 7,556 square feet. Multiple tenants are possible, with divisible spaces to suit various needs. Amenities include a kitchenette and shower accessible from Suites E and F. The property is in excellent condition, highlighted by a recently installed roof. The asking price for the sale is $298,000. Alternatively, the property is available for lease at a triple net rate of $5.50 per square foot. Triple net lease responsibilities include utilities, janitorial services, and snow/grass removal. The property's APN is 57-07-29-300-008.000-020. This versatile building offers significant potential for a variety of medical practices or businesses seeking a well-maintained and conveniently located space.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1993
Construction WOOD
Total area 7,556 SF
Lot 0.56 ac (24,394 SF)
APN 57-07-29-300-008.000-020
UPID US31-1804995

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$225k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$225k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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