Flex Warehouse with
For Sale
Contact for pricing
2111 Cassopolis St, Elkhart, IN 46514
Flex warehouse with climate-controlled storage, dedicated office/showroom space, and overhead roll-up door access.
Property Size4,330 SF
Price / SF$80.83
Days on Market214
Property Features for 2111 Cassopolis St
General Information
Standard status
Active
Size
4,330 SF
Property subtype
Mixed Use, Office, Retail, Special Purpose
Warehouse & Industrial
Drive-In Doors
1
Heavy Power
Yes
Building Details
Year Built
1999
Buildings
1
Stories
1
Listing Agency:
McKinnies Realty
Listed By:
Arpita Shah · License #RB20001564
(574) 271-3440
Source:
Crexi
Added: Mar 25
Changed: Oct 12
Last Checked: Oct 23 at 4:05AM
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 McKinnies Realty
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Investment Insights
Based on property information with market context.
This commercial flex property includes approximately 925 sq ft of office/showroom space and 3,405 sq ft of attached, climate-controlled warehouse area. A partially finished basement provides additional storage flexibility. Built in 1999, the warehouse is served by separate gas heating and cooling systems and includes 3-phase electric service and an overhead roll-up door for larger vehicle access.
The property is located along a busy roadway with convenient access and strong visibility. It is served by a private well with available connection to city water, and an upgraded 6-inch sewer line is in place. Shared driveway access is provided, with paved parking in both the front and rear.
An additional 0.67-acre parcel is included to the west (Parcel #: 20-02-29-403-004.000-026), offering flexibility for expansion or additional investment uses.
The property is located along a busy roadway with convenient access and strong visibility. It is served by a private well with available connection to city water, and an upgraded 6-inch sewer line is in place. Shared driveway access is provided, with paved parking in both the front and rear.
An additional 0.67-acre parcel is included to the west (Parcel #: 20-02-29-403-004.000-026), offering flexibility for expansion or additional investment uses.
Key Highlights
- Approx. 4,330 SF total building area with 925 SF office/showroom and 3,405 SF attached climate‑controlled warehouse.
- Warehouse has separate gas heating and cooling, plus 3‑phase electric service for operational capacity.
- Overhead roll‑up door provides vehicle access to the climate‑controlled warehouse space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,507
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,140
$630.1K
Cap Rate 7%
$450,100
$450.1K
Cap Rate 9%
$350,078
$350.1K
Market Conditions
NOI Build-Up for 4,330 SF
Gross rent
$41.0K $9.48/SF
− Vacancy
−$4.0K −$0.92/SF
EGI
$37.1K $8.56/SF
− OpEx
−$5.6K −$1.28/SF
NOI
$31.5K $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%
$630,140
Cap Rate 7%
$450,100
Cap Rate 9%
$350,078
Alternative Uses
Best Use
Office B
$638.9K
$559.1K – $745.4K
NOI $44,725 @ 7.0% cap · market cap 12.78%
Second Best
Warehouse
$450.1K
$393.8K – $525.1K
NOI $31,507 @ 7.0% cap · market cap 9.00%
Theoretical Best
Specialty Retail
$801.7K
$701.5K – $935.3K
NOI $56,117 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 46514, IN
42,048
Population
17,987
Households
2.3
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
38.7 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,784
Median Household Income
$40,909
Median Earnings
$1,084
Median Rent
$170,900
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 - Flex warehouse with climate-controlled storage, dedicated office/showroom space, and overhead roll-up door access.
Where is this flex space located?
The property is located at 2111 Cassopolis St Elkhart, 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: Approx. 4,330 SF total building area with 925 SF office/showroom and 3,405 SF attached climate‑controlled warehouse.; Warehouse has separate gas heating and cooling, plus 3‑phase electric service for operational capacity.; Overhead roll‑up door provides vehicle access to the climate‑controlled warehouse space.
