Automotive Shop with Service
For Sale
Contact for pricing
1715 East Lincoln Avenue, Goshen, IN 46528
B-3 Commercial zoning and a wash bay support the property's automotive configuration.
Property Size11,640 SF
Lot Size9.19 Acres
Price / SF$98.80
Days on Market11
Property Features for 1715 East Lincoln Avenue
General Information
Standard status
Active
Size
11,640 SF
Lot size
9.19 Acres
Property subtype
Retail, Industrial
Zoning
B-3 Commercial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Car Wash Bays
1
Amenities
overhead doors
480v/3 phase power
Building Details
Buildings
1
Listing Agency:
Afton Keyser
Listed By:
Pete Letherman, SIOR, CCIM · License #IN RB14026646
Source:
Crexi
Added: Sep 16
Changed: Sep 24
Last Checked: Sep 24 at 2:57PM
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 Afton Keyser
Investment Insights
Based on property information with market context.
This automotive property includes an 11,640-square-foot former garage on 9.19 acres. The building has one 12' x 16' overhead door and ten 14' x 16' overhead doors, along with a wash bay and 480V, 3-phase power. The site is zoned B-3 Commercial.
At 1715 East Lincoln Avenue in Goshen, the property has access to SR 15 and US 33 for travel to regional markets.
At 1715 East Lincoln Avenue in Goshen, the property has access to SR 15 and US 33 for travel to regional markets.
Key Highlights
- 9.19‑acre automotive property with an 11,640‑square‑foot building
- Overhead doors include one 12' x 16' door and ten 14' x 16' doors
- Wash bay and 480V/3‑phase power
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,750
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,395,000
$1.4M
Cap Rate 7%
$996,429
$996.4K
Cap Rate 9%
$775,000
$775.0K
Market Conditions
NOI Build-Up for 11,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$110.3K $9.48/SF
− Vacancy
−$10.7K −$0.92/SF
EGI
$99.6K $8.56/SF
− OpEx
−$29.9K −$2.57/SF
NOI
$69.8K $5.99/SF
Area
Elkhart County, IN
Vacancy
9.70%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,395,000
Cap Rate 7%
$996,429
Cap Rate 9%
$775,000
Alternative Uses
Best Use
Retail
$2.13M
$1.87M – $2.49M
NOI $149,401 @ 7.0% cap · market cap 12.99%
Second Best
Industrial
$996.4K
$871.9K – $1.16M
NOI $69,750 @ 7.0% cap · market cap 6.07%
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.51M
NOI $150,854 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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- BMS Automotive Specialists — 708 Logan St, Goshen, IN 46528
- Drive Diagnostics — 702 Logan St, Goshen, IN 46528
Frequently Asked Questions
What type of property is this?
Auto shop - B-3 Commercial zoning and a wash bay support the property's automotive configuration.
Where is this auto shop located?
The property is located at 1715 East Lincoln Avenue Goshen, IN.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 9.19‑acre automotive property with an 11,640‑square‑foot building; Overhead doors include one 12' x 16' door and ten 14' x 16' doors; Wash bay and 480V/3‑phase power
