21807 State Road 120 Road, Elkhart, IN 46516
Retail, House - Elkhart, IN
- Added:
- Apr 17, 2026
- Days on Market:
- 54
- Last Refresh:
- Jun 9 at 7:06 am
Property Features for 21807 State Road 120 Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Single Family Residence
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Kitchen
- Parking
- 8
- Parking features
- Offsite, Paved or Surfaced
- Interior features
- Drywall, 110 Volts, Basement
- Exterior features
- 110 Volts, Basement
- Standard status
- Active
- APN
- 20-03-31-151-033.000-030
- Size
- 1,392 SF
- Lot size
- 0.53 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3300
Utilities
- Heating system
- Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1958
- Floors in Building
- 1
- Flooring type
- Wood
- Building materials
- Brick
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Kevin Foy License #RB14012672 (574) 536-9218
Listing office RE/MAX Oak Crest - Elkhart 1815 E Bristol St, Elkhart, IN (574) 262-0770
Listing date Apr 17, 2026
Copyright © 2026 Elkhart County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- B‑1 zoning allows for versatile commercial use (retail, office, service‑based, mixed‑use).
- High‑traffic location provides excellent exposure for businesses.
- Approximately 0.53 acre site with 1,392 sq ft of usable space.
- On‑site parking accommodates approximately 8 vehicles.
- Full basement provides additional storage or workspace.
- Includes a one‑car garage.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.6k | $19.08 |
| − Vacancy | −$1.0k | −$0.74 |
| EGI | $25.5k | $18.34 |
| − OpEx | −$7.7k | −$5.50 |
| NOI | $17.9k | $12.84 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Elkhart
- County
- Elkhart
- State
- Indiana
- Longitude
- -85.886739
- Latitude
- 41.703108
