Two-Story Mixed-Use
For Sale
$275,000
120 N 5Th Street, Goshen, IN 46528
INVESTMENT, Two Story, Goshen, IN
Property Size3,216 SF
Lot Size0.12 Acres
Price / SF$85.51
Days on Market101
Property Features for 120 N 5Th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
2
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Basement, Bathroom 4, Bathroom 3, Bedroom 1
Fireplace
1
Lot features
City/ Town/ Suburb, Historic Designation
Elementary school
Chamberlain
Middle school
Goshen
High school
Goshen
Elementary school district
Goshen Community Schools
Middle school district
Goshen Community Schools
High school district
Goshen Community Schools
Directions
5th street to property
Subdivision
Elkhart County
Standard status
Active
APN
20-11-09-426-002.000-015
Size
3,216 SF
Lot size
0.12 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Year
2026
Tax Description
ORIG W 90FT OF N1/2 75 W 90FT OF S 23FT 76 (TIF 128)
Tax Annual Amount
3000
Legal Description
ORIG W 90FT OF N1/2 75 W 90FT OF S 23FT 76 (TIF 128)
Utilities
Cooling system
Multi Units
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Carpet, Wood, Vinyl
Roof type
Asphalt
Architectural style
Other
Buildings
1
Listing Agency:
Hallmark Excellence Realty
Listed By:
Gregory Hire
(574) 238-7157
Added: Jul 29
Changed: Nov 5
Last Checked: Nov 6 at 12:06PM
MLS# 202630691
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.
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Investment Insights
Based on property information with market context.
Built in 1900, this two-story mixed-use building contains 3,216 square feet on a 0.12-acre lot. The main level is configured as an office with a reception and work area, fireplace, two half baths, and air conditioning. Two separate one-bedroom apartments occupy the upper floor, each with a private entrance and a full bathroom with shower. The apartments do not include kitchen appliances or air conditioning, leaving those components for future customization.
A basement houses the hot water boiler system, and the property includes wood, vinyl, and carpet flooring beneath an asphalt roof. The building has been unleased and unoccupied for several years. B-2 zoning and the combination of office and residential space provide a mixed-use layout within Goshen.
A basement houses the hot water boiler system, and the property includes wood, vinyl, and carpet flooring beneath an asphalt roof. The building has been unleased and unoccupied for several years. B-2 zoning and the combination of office and residential space provide a mixed-use layout within Goshen.
Key Highlights
- 3,216‑square‑foot mixed‑use building on a 0.12‑acre lot
- B‑2 zoning with office and residential components
- Main‑level office includes reception/work area, fireplace, two half baths, and air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,850
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,000
$477.0K
Cap Rate 7%
$340,714
$340.7K
Cap Rate 9%
$265,000
$265.0K
Market Conditions
NOI Build-Up for 3,216 SF
Gross rent
$47.1K $14.64/SF
− Vacancy
−$3.7K −$1.16/SF
EGI
$43.4K $13.48/SF
− OpEx
−$19.5K −$6.07/SF
NOI
$23.8K $7.42/SF
Area
Elkhart County, IN
Vacancy
7.90%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,000
Cap Rate 7%
$340,714
Cap Rate 9%
$265,000
Alternative Uses
Best Use
Office B
$474.5K
$415.2K – $553.6K
NOI $33,218 @ 7.0% cap · market cap 12.08%
Second Best
Mixed Use
$432.6K
$378.5K – $504.7K
NOI $30,283 @ 7.0% cap · market cap 11.01%
Theoretical Best
Specialty Retail
$595.4K
$521.0K – $694.7K
NOI $41,679 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
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Business Placement
Demographics for 46528, IN
27,223
Population
8,495
Households
3.2
Avg Household Size
34
Median Age
25%
College-Educated
80%
High-School Grad
72.5 sq mi
ZIP Area
375
Density / Sq Mi
$77,620
Median Household Income
$40,539
Median Earnings
$1,056
Median Rent
$237,600
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - B-2 zoning supports a main-level office with two residential units above.
Where is this mixed-use property located?
The property is located at 120 N 5Th Street Goshen, IN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3,216‑square‑foot mixed‑use building on a 0.12‑acre lot; B‑2 zoning with office and residential components; Main‑level office includes reception/work area, fireplace, two half baths, and air conditioning
