Flex Space with
For Sale
$995,000
114 South Main Street, Goshen, IN 46526
The property combines private offices with warehouse functionality and a full basement.
Property Size10,454 SF
Price / SF$95.18
Days on Market485
Property Features for 114 South Main Street
General Information
Standard status
Active
Size
10,454 SF
Property subtype
Commercial / Mixed Use
Taxes and HOA fees
Annual Taxes
$21,827
Amenities
Central Air
2
Yes
Mixed
Gas
Full Basement
Aluminum, Brick
Rubber
Building Details
Year Built
1837
Buildings
4
Listing Agency:
Century 21 Circle
Listed By:
Patricia Miller · License #RB14033480
(574) 293-2121
Source:
Compass
Added: Jun 20, 2025
Changed: Oct 15
Last Checked: Oct 16 at 10:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Circle
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Investment Insights
Based on property information with market context.
This commercial property at 114 South Main Street combines an office-oriented main building with a separate warehouse component. The office area includes multiple private offices, six restrooms, a conference room, and a staff break room, with a layout that has served professional, creative, coworking, and institutional functions. Central air and a full basement are also identified among the property features.
The separate warehouse includes two overhead doors, two restrooms, office space, and loft space. The property is situated on a high-traffic street in downtown Goshen and previously housed The Goshen News. Built in 1837, the building offers a combination of office and warehouse improvements at a central Goshen address.
The separate warehouse includes two overhead doors, two restrooms, office space, and loft space. The property is situated on a high-traffic street in downtown Goshen and previously housed The Goshen News. Built in 1837, the building offers a combination of office and warehouse improvements at a central Goshen address.
Key Highlights
- Separate warehouse includes two overhead doors, two restrooms, office space, and loft space
- Main building provides multiple private offices, six restrooms, a conference room, and a staff break room
- Office and warehouse components support a range of commercial layouts and functions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,067
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,340
$1.5M
Cap Rate 7%
$1,086,671
$1.1M
Cap Rate 9%
$845,189
$845.2K
Market Conditions
NOI Build-Up for 10,454 SF
Gross rent
$99.1K $9.48/SF
− Vacancy
−$9.6K −$0.92/SF
EGI
$89.5K $8.56/SF
− OpEx
−$13.4K −$1.28/SF
NOI
$76.1K $7.28/SF
Area
Elkhart County, IN
Vacancy
9.70%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,340
Cap Rate 7%
$1,086,671
Cap Rate 9%
$845,189
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $107,980 @ 7.0% cap · market cap 10.85%
Second Best
Warehouse
$1.09M
$950.8K – $1.27M
NOI $76,067 @ 7.0% cap · market cap 7.64%
Theoretical Best
Specialty Retail
$1.94M
$1.69M – $2.26M
NOI $135,484 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46526, IN
33,170
Population
12,570
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
67.1 sq mi
ZIP Area
494
Density / Sq Mi
$65,864
Median Household Income
$36,446
Median Earnings
$1,061
Median Rent
$192,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The property combines private offices with warehouse functionality and a full basement.
Where is this flex space located?
The property is located at 114 South Main Street Goshen, IN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Separate warehouse includes two overhead doors, two restrooms, office space, and loft space; Main building provides multiple private offices, six restrooms, a conference room, and a staff break room; Office and warehouse components support a range of commercial layouts and functions
