Industrial Facility with Office
For Sale
Contact for pricing
Pending
2147 Eisenhower Drive North, Goshen, IN 46526
Industrial facility built in 2004 featuring warehouse space plus newly renovated office area.
Property Size23,905 SF
Days on Market144
Property Features for 2147 Eisenhower Drive North
General Information
Standard status
Pending
Size
23,905 SF
Property subtype
Industrial
Zoning
M-1
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
2004
Listing Agency:
Pinnacle Properties
Listed By:
Ryan White · License #IN
(574) 315-9615
Source:
Crexi
Added: Apr 21
Changed: Sep 10
Last Checked: Sep 11 at 7:37AM
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 Pinnacle Properties
Investment Insights
Based on property information with market context.
This well-positioned industrial facility was built in 2004 and offers a functional mix of warehouse space and newly renovated office space. The layout supports combined operations, with office space integrated into the building to accommodate day-to-day administrative needs.
The property is located near US-33, providing connectivity through downtown Goshen and the greater region.
Offered for sale, this flex-style industrial asset is categorized as industrial properties/warehouses with office units and office space, making it suited to users looking for an integrated warehouse and office configuration.
The property is located near US-33, providing connectivity through downtown Goshen and the greater region.
Offered for sale, this flex-style industrial asset is categorized as industrial properties/warehouses with office units and office space, making it suited to users looking for an integrated warehouse and office configuration.
Key Highlights
- Industrial facility built in 2004 with a functional mix of warehouse and office space.
- Includes warehouse space plus a newly renovated office area.
- Located near US‑33, providing connectivity through downtown Goshen and the greater region.
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
$134,996
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
8.95%
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%
$2,699,920
$2.7M
Cap Rate 7%
$1,928,514
$1.9M
Cap Rate 9%
$1,499,956
$1.5M
Market Conditions
NOI Build-Up for 23,905 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
$229.5K $9.60/SF
− Vacancy
−$21.8K −$0.91/SF
EGI
$207.7K $8.69/SF
− OpEx
−$72.7K −$3.04/SF
NOI
$135.0K $5.65/SF
Area
Elkhart County, IN
Vacancy
9.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
35.00%
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%
$2,699,920
Cap Rate 7%
$1,928,514
Cap Rate 9%
$1,499,956
Alternative Uses
Best Use
Warehouse
$2.48M
$2.17M – $2.90M
NOI $173,942 @ 7.0% cap · market cap 11.53%
Second Best
Industrial
$2.05M
$1.79M – $2.39M
NOI $143,246 @ 7.0% cap · market cap 9.50%
Theoretical Best
Specialty Retail
$4.43M
$3.87M – $5.16M
NOI $309,809 @ 7.0% cap · market cap 20.54%
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
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Balanced
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Greencroft Catering & Meeting — 1820 Greencroft Blvd, Goshen, IN 46526
Frequently Asked Questions
What type of property is this?
Flex space - Industrial facility built in 2004 featuring warehouse space plus newly renovated office area.
Where is this flex space located?
The property is located at 2147 Eisenhower Drive North Goshen, IN.
What is the asking price?
The asking price for this property is $1,508,000.
What are key features of this property?
This property features: Industrial facility built in 2004 with a functional mix of warehouse and office space.; Includes warehouse space plus a newly renovated office area.; Located near US‑33, providing connectivity through downtown Goshen and the greater region.
