Day Care Center with Full
For Sale
$295,000
21807 State Road 120, Elkhart, IN 46516
COMMERCIAL - Elkhart, IN
Property Size1,392 SF
Lot Size0.53 Acres
Price / SF$211.93
Days on Market110
Property Features for 21807 State Road 120
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Offsite
Subdivision
River View / Riverview
Lot features
Suburb
Directions
CR 17 to SR 120 Head east
Standard status
Active
APN
20-03-31-151-033.000-030
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
River View Pl S Pt Lots 9 & Lot 10 Ex E 5Ft Lot 10 & Ex Pt For Hwy
Tax Annual Amount
3300
Legal Description
River View Pl S Pt Lots 9 & Lot 10 Ex E 5Ft Lot 10 & Ex Pt For Hwy
Utilities
Cooling system
Central Air
Building Details
Year built
1958
Flooring type
Wood
Roof type
Asphalt, Shingle
Listing Agency:
RE/MAX Oak Crest - Elkhart · RE/MAX International
(574) 262-0770
Listed By:
Kevin Foy · License #RB14012672
(574) 536-9218
Added: Apr 17
Changed: Aug 1
Last Checked: Aug 4 at 5:06AM
MLS# 202613914
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.
Investment Insights
Based on property information with market context.
This B-1 zoned commercial property is offered with 1,392 square feet of usable space and a layout that includes a full basement. The building features central air, wood flooring, and an asphalt shingle roof, with a one-car garage for added convenience. Parking is available for approximately eight vehicles, supporting customer and staff needs.
Located at 21807 State Road 120 in Elkhart, Indiana, the property is positioned in a high-traffic area for business visibility. The flexible setup supports a range of uses, including day care, office (such as an attorney office), and service businesses like a hair salon.
Built in 1958, the property includes basement space that can support additional storage or workspace, while the main level provides usable interior space for a variety of day care, office, retail, or service concepts, subject to applicable requirements.
Located at 21807 State Road 120 in Elkhart, Indiana, the property is positioned in a high-traffic area for business visibility. The flexible setup supports a range of uses, including day care, office (such as an attorney office), and service businesses like a hair salon.
Built in 1958, the property includes basement space that can support additional storage or workspace, while the main level provides usable interior space for a variety of day care, office, retail, or service concepts, subject to applicable requirements.
Key Highlights
- B‑1 zoned commercial property with 1,392 SF of usable space
- Full basement provides additional storage or workspace
- One‑car garage plus parking for approximately 8 vehicles
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.2k | $18.84 |
| − Vacancy | −$7.1k | −$5.07 |
| EGI | $19.2k | $13.77 |
| − OpEx | −$4.8k | −$3.44 |
| NOI | $14.4k | $10.33 |
1,392 SF · lease $18.84/SF/yr · vacancy 26.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$205.4K
$179.7K – $239.6K
NOI $14,378 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$257.7K
$225.5K – $300.7K
NOI $18,040 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46516, IN
33,670
Population
14,137
Households
2.4
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
17.5 sq mi
ZIP Area
1,924
Density / Sq Mi
$54,934
Median Household Income
$39,189
Median Earnings
$986
Median Rent
$150,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Day care center - B-1 zoned day care and service building with central air, wood flooring, full basement, and parking for up to eight.
Where is this day care center located?
The property is located at 21807 State Road 120 Elkhart, IN.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: B‑1 zoned commercial property with 1,392 SF of usable space; Full basement provides additional storage or workspace; One‑car garage plus parking for approximately 8 vehicles
