831 Commerce Dr, Kendallville, IN 46755-9388
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.