Flex Warehouse with
For Sale
$400,000
1505 Elkhart Rd, Goshen, IN 46526
Heated warehouse includes overhead furnaces, garage and service doors, plus showroom and office space.
Property Size5,025 SF
Price / SF$79.60
Days on Market147
Property Features for 1505 Elkhart Rd
General Information
Standard status
Active
Size
5,025 SF
Taxes and HOA fees
Annual Taxes
$6,876
Amenities
off street parking
Building Details
Stories
2
Listing Agency:
eXp Realty, LLC
Listed By:
Rodger Pendl
(574) 532-5005
Source:
Exprealty
Added: May 28
Changed: Oct 17
Last Checked: Oct 20 at 9:20PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
This flex-style property includes showroom/office space, warehouse area, and a second-floor office. The warehouse is heated and features two overhead furnaces, along with a garage door and service entry doors. Off-street parking is available.
The building is positioned on Elkhart Road in Goshen, and the public remarks note high traffic count at the location.
The current configuration supports a combined retail or office front with back-of-house warehouse operations, with separate levels for office use.
The building is positioned on Elkhart Road in Goshen, and the public remarks note high traffic count at the location.
The current configuration supports a combined retail or office front with back-of-house warehouse operations, with separate levels for office use.
Key Highlights
- Heated warehouse with two overhead furnaces, plus garage door and service entry doors
- Showroom/office space of approximately 2,136 SF
- Second‑floor office space of approximately 489 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,564
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,280
$731.3K
Cap Rate 7%
$522,343
$522.3K
Cap Rate 9%
$406,267
$406.3K
Market Conditions
NOI Build-Up for 5,025 SF
Gross rent
$47.6K $9.48/SF
− Vacancy
−$4.6K −$0.92/SF
EGI
$43.0K $8.56/SF
− OpEx
−$6.5K −$1.28/SF
NOI
$36.6K $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%
$731,280
Cap Rate 7%
$522,343
Cap Rate 9%
$406,267
Alternative Uses
Best Use
Office B
$741.5K
$648.8K – $865.1K
NOI $51,903 @ 7.0% cap · market cap 12.98%
Second Best
Warehouse
$522.3K
$457.1K – $609.4K
NOI $36,564 @ 7.0% cap · market cap 9.14%
Theoretical Best
Specialty Retail
$930.3K
$814.1K – $1.09M
NOI $65,124 @ 7.0% cap · market cap 16.28%
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
440
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
Check the figures for this property
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 - Heated warehouse includes overhead furnaces, garage and service doors, plus showroom and office space.
Where is this flex space located?
The property is located at 1505 Elkhart Rd Goshen, IN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Heated warehouse with two overhead furnaces, plus garage door and service entry doors; Showroom/office space of approximately 2,136 SF; Second‑floor office space of approximately 489 SF
