Manufacturing Facility with Grade-Level
2944 Dexter Drive, Elkhart, IN 46514
For Sale
Contact for pricing
M-2-zoned industrial space includes production offices, specialized heating, and municipal water and sewer connections.
Property Size80,212 SF
Lot Size8.68 Acres
Price / SF$72.31
Days on Market42
Property Features for 2944 Dexter Drive
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Fenced Yard
Utilities to Site
Warehouse & Industrial
Clear Height
Drive-In Doors
Column Spacing
Power
Voltage
Three-Phase Power
Sprinkler System
Additional Details
Property Use
Building Details
Year Built
Building Size
Listing Agency:
NAI Cressy - Mishawaka
Listed By:
Ryan Gableman · License #IN RB14049453
(574) 264-2050
Source:
Crexi
Added: Sep 29
Changed: Nov 8
Last Checked: Nov 8 at 4:57PM
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 NAI Cressy - Mishawaka
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Investment Insights
Based on property information with market context.
Built in 2017, this 80,212-square-foot manufacturing facility occupies an 8.68-acre fenced and gated site. The warehouse has 22- to 26-foot ceilings, 25-by-60-foot column spacing, full metal liner panels, and 18 grade-level doors measuring 14 feet high by 16 feet wide. A three-section rain bay, fall-protection rails, rooftop exhaust fans, LED lighting, and a wet sprinkler system support the building’s production layout. Heating includes Cambridge plant heat and gas unit heaters at the overhead doors; the office has gas forced heat and central air conditioning. Office space totals 1,680 square feet, with an additional second-floor production office measuring 23 by 23 feet. Electrical service is 800/480V/3Ph.
The property has more than 470 feet of frontage on the 80/90 Toll Road and is within minutes of Exit 92. It is on the north side of Elkhart, near Elkhart Municipal Airport, with routing to State Road 19 and the US-20 Bypass. Municipal water and sewer serve the site, which is zoned M-2 manufacturing. The boundary between this property and 2950 Dexter Drive is under evaluation for a possible relocation; three surrounding properties are available separately.
The property has more than 470 feet of frontage on the 80/90 Toll Road and is within minutes of Exit 92. It is on the north side of Elkhart, near Elkhart Municipal Airport, with routing to State Road 19 and the US-20 Bypass. Municipal water and sewer serve the site, which is zoned M-2 manufacturing. The boundary between this property and 2950 Dexter Drive is under evaluation for a possible relocation; three surrounding properties are available separately.
Key Highlights
- 80,212 SF manufacturing facility on 8.68 acres
- 18 grade‑level doors, each 14 feet high by 16 feet wide
- Ceiling heights range from 22' to 26'; 25' x 60' column spacing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$480,655
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,613,100
$9.6M
Cap Rate 7%
$6,866,500
$6.9M
Cap Rate 9%
$5,340,611
$5.3M
Market Conditions
NOI Build-Up for 80,212 SF
Gross rent
$760.4K $9.48/SF
− Vacancy
−$73.8K −$0.92/SF
EGI
$686.7K $8.56/SF
− OpEx
−$206.0K −$2.57/SF
NOI
$480.7K $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 Rate 5%
$9,613,100
Cap Rate 7%
$6,866,500
Cap Rate 9%
$5,340,611
Alternative Uses
Best Use
Warehouse
$8.34M
$7.30M – $9.73M
NOI $583,653 @ 7.0% cap · market cap 10.06%
Second Best
Industrial
$6.87M
$6.01M – $8.01M
NOI $480,655 @ 7.0% cap · market cap 8.29%
Theoretical Best
Specialty Retail
$14.85M
$12.99M – $17.33M
NOI $1,039,548 @ 7.0% cap · market cap 17.92%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
26 ft
Clear height
18
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
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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Market
Properties on Market for Manufacturing properties in Elkhart
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - M-2-zoned industrial space includes production offices, specialized heating, and municipal water and sewer connections.
Where is this manufacturing property located?
The property is located at 2944 Dexter Drive Elkhart, IN.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 80,212 SF manufacturing facility on 8.68 acres; 18 grade‑level doors, each 14 feet high by 16 feet wide; Ceiling heights range from 22' to 26'; 25' x 60' column spacing
