Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    County Road 113 Elkhart, IN 46514

    Sponsored
    For Sale
    $1,860,000

    Agricultural Land - Elkhart, IN

    Lot size:
    124.00 Acres
    Days on Market:
    6
    Last Refresh:
    Mar 2 at 3:06 pm

    Property Features for County Road 113

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    20-02-23-251-001.000-026
    Lot size
    124.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jesse Riegsecker

    Bright Star Realty and Auctions LLC (574) 825-0704

    Listing agent Jesse Riegsecker (574) 821-7653 License #RB14046169

    Listing date Feb 25, 2026

    MLS# 202605862 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    124 Acres Premium Elkhart Land

    This property consists of 124 acres of premium real estate located in Elkhart County, Indiana. The land has access from County Road 113, County Road 13, and County Road 4. It borders the Indiana Toll Road along its entire south side. The property includes a large irrigation pivot and is currently being cash rented for growing crops. This agricultural land is being sold at online auction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land

    Map

    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.91315334
    Latitude
    41.7331982

    Nearby Similar for Sale

    • New
      $315,000
      Pending

      Updated Mixed-Use Building on Bristol

      Recently updated mixed-use building with high visibility and ample parking.
      1842 E Bristol St, Elkhart, IN 46514
      View Details
    • $459,900
      30,000 SF

      Elkhart Industrial Property on Lusher

      30,000 SF industrial property on 2.83 acres in Elkhart.
      1627 W Lusher Ave, Elkhart, IN 46517
      View Details
    • $280,000
      Pending

      Elkhart Industrial Flex Space

      7,720 SF industrial space suitable for various businesses.
      1727 Lusher St, Elkhart, IN 46517
      View Details
    • New
      $625,000
      Pending

      Elkhart House of Worship on 3 Acres

      5,116 SF church or special purpose property on 3 acres.
      2913 E Bristol St. St, Elkhart, IN 46514
      View Details
    • $89,900
      8,500 SF

      Elkhart Industrial Property with M1 Zoning

      Industrial property with M1 zoning, suitable for auto repair.
      510 State St, Elkhart, IN 46516
      View Details
    • $175,000
      Pending

      Elkhart Mixed-Use Commercial Building

      Renovated mixed-use building in high-traffic area with business and residential potential.
      23957 Us Highway 33, Elkhart, IN 46517
      View Details
    • $225,900
      1.11 Acres

      Versatile Mixed-Use Building in Elkhart

      Updated brick building with showroom, office, storage, and expansion potential.
      24266 County Road 45, Elkhart, IN 46516
      View Details
    • $850,000
      Pending

      Elkhart Industrial/Warehouse Opportunity

      Industrial/warehouse property in Elkhart with easy access and expansion potential.
      3505 Cooper Dr, Elkhart, IN 46514
      View Details
    • $375,000
      Pending

      Versatile Commercial Space in Elkhart

      Flexible commercial property suitable for various business uses.
      25810 Miner Rd, Elkhart, IN 46514
      View Details
    • New
      $775,000
      1,054 SF

      Income-Producing Retreat on 9.3 Acres

      Successful Airbnb retreat near Notre Dame with expansion potential.
      57507 Red Bud Ln, Elkhart, IN 46517
      View Details
    • $650,000
      0.13 Acres

      Winchester Mansion: Event Center Potential

      Stunning property with income potential as event center or B&B.
      529 S 2Nd St, Elkhart, IN 46516
      View Details
    • $145,000
      0.11 Acres

      Elkhart Restaurant/Bar For Sale

      Cozy diner with equipment ready for your personal touch.
      822 N Michigan St St, Elkhart, IN 46514
      View Details

    FAQs

    What type of property is this?
    Agricultural land - 124 acres of premium Elkhart County real estate.
    Where is this agricultural land located?
    The property is located at County Road 113 Elkhart, IN.
    What is the asking price?
    The asking price for this property is $1,860,000.
    What are key features of this property?
    This property features: - 124 acres of premium Elkhart County real estate.; - Currently cash rented for growing crops.; - Large irrigation pivot included.
    (574) 612-7277
    Request Owner's contact information
    County Road 113 Elkhart, IN 46514
    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.
    County Road 113
    Elkhart, IN 46514
    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
    County Road 113 Elkhart, IN 46514
    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

    We can help!
    Listing Contact
    Jesse Riegsecker
    Real Estate License ID: RB14046169
    (574) 612-7277 (574) 821-7653
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!