Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property on Main Street Title is generated by Realmo AI

    118-116 North Main Street Unit 116, Goshen, IN 46526

    View on Map
    Claim this Listing
    For Sale
    $350,000

    Historic mixed-use property with parking in Goshen, Indiana.

    Type:Commercial / Mixed Use
    Property size:
    6,970 SF
    Price / SF:
    $50/SF
    Added:
    Dec 17, 2025
    Days on Market:
    168
    Last Refresh:
    Mar 13 at 4:35 pm

    Property Features for 118-116 North Main Street Unit 116

    General Information

    Standard status
    Active
    Size
    6,970 SF
    Property subtype
    Commercial / Mixed Use

    Building Details

    Year Built
    1872

    We can help!

    Listing Contact
    Lori Snyder
    Lori Snyder

    Listing agent Lori Snyder License #RB14022203

    Listing office Berkshire Hathaway HomeServices Elkhart

    Listing date Dec 17, 2025

    Source Compass

    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 Berkshire Hathaway HomeServices Elkhart

    HighLights

    • Prime Main Street location in Goshen, Indiana.
    • Mixed‑use property suitable for office, retail, restaurant, or residential.
    • Significant square footage across two buildings with a parking lot.
    • Historic building (built in 1872) with unique architectural details, including limestone and sandstone exterior, and original 1930s interior features.
    • Second floor with potential for living quarters or apartments, featuring hardwood floors, trim, transom windows, and skylights.
    • Full and partial basement.

    Overview

    This mixed-use property is located directly on Main Street in Goshen, Indiana. The property consists of two buildings, 118 and 116 N Main, offering a total of 6,970 square feet and its own parking lot. Building 116 features a cornice limestone facade with "STATE BANK" inscribed at the top, with limestone and sandstone comprising the exterior. The main level is currently configured with offices and conference rooms, but it could be converted into retail or restaurant space. The second floor retains architectural details from the early 1930s, including trim, transom windows, and hardwood floors. The second floor may be suitable for living quarters or apartments. According to local lore, the second floor once housed a "Speakeasy" with a dance floor, stage, large skylights (currently covered), and an original drawing on one wall.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Goshen
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.834034
    Latitude
    41.587227

    Nearby Similar for Sale

    • $1,150,000
      28,700 SF

      Downtown Goshen Mixed-Use Opportunity

      Iconic property with office and warehouse space in Goshen.
      114 S Main Street, Goshen, IN 46526
      View Details
    • $149,500
      1,364 SF

      Versatile Office Building in Goshen

      Office building with five private offices, ideal for professionals.
      2700 W Wilden Avenue, Goshen, IN 46528
      View Details
    • $850,000
      2,560 SF

      Renovated Duplex on 10+ Acres

      Updated duplex on 10.8 acres with income potential.
      65940 US 33, Goshen, IN 46526
      View Details
    • $1,444,900

      Multi-Level Office Building with Drive-Through

      Multi-level office building with multiple restrooms, storage, and a drive-through entry plus attached garage access.
      301 W Lincoln Avenue, Goshen, IN 46526-3227
      View Details
    • $179,900
      2,196 SF

      Goshen Duplex with Tenant History

      Duplex in Goshen with long-term tenants.
      313 S 7th Street, Goshen, IN 46528
      View Details
    • $255,000

      Goshen Church Building For Sale

      Church building with commercial zoning and vacant lot included.
      14052 County Road 34 Road, Goshen, IN 46528
      View Details
    • $299,000

      Mixed-Use Property on Main Street

      Historic mixed-use property with office/retail space and residential potential.
      118 116 N Main Street, Goshen, IN 46526
      View Details
    • $1,295,000

      Goshen Manufacturing and Industrial Facility

      Manufacturing and industrial facility with recent updates in Goshen, Indiana.
      2211 W Wilden Avenue, Goshen, IN 46526
      View Details
    • $790,000

      NNN Specialty Investment with Lease

      NNN investment featuring a lease scheduled to expire in 2027 with a remaining one-year option period.
      804-808 W Lincoln Ave, Goshen, IN 46526
      View Details
    • $1,400,000
      3,132 SF

      Elkhart Road Commercial Property

      Office and garage/shop space with high visibility on US 33.
      2600 Elkhart Rd, Goshen, IN
      View Details
    • $325,000
      11,882 SF

      Goshen Retail and Storage Opportunity

      Three buildings suitable for retail and storage in Goshen.
      311 High St, Goshen, IN 46528
      View Details
    • $152,500
      1,364 SF

      Versatile Office Building For Sale

      Office building with five private offices and partial basement.
      2700 W Wilden Ave, Goshen, IN 46528
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Historic mixed-use property with parking in Goshen, Indiana.
    Where is this mixed-use property located?
    The property is located at 118-116 North Main Street Unit 116 Goshen, IN.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Prime Main Street location in Goshen, Indiana.; Mixed‑use property suitable for office, retail, restaurant, or residential.; Significant square footage across two buildings with a parking lot.
    (574) 849-5886
    We can help!
    Listing Contact
    Lori Snyder
    Lori Snyder
    Real Estate License ID: RB14022203
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    118-116 North Main Street, Unit 116, Goshen, IN 46526
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!