Retail Space with Verizon
For Sale
Contact for pricing
3365 S Main St, Elkhart, IN 46517
Retail space with a Verizon tenant in place since 1997, full triple net lease terms, and a large on-site parking area.
Property Size3,482 SF
Price / SF$371.91
Days on Market680
Property Features for 3365 S Main St
General Information
Standard status
Active
Size
3,482 SF
Property subtype
RETAIL
Additional Details
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Bradley Company | Elkhart
(574) 849-5002
Listed By:
Therese Geise · License #SP39402322
(574) 849-5002
Source:
Moodyscre
Added: Sep 20, 2024
Changed: Jul 29
Last Checked: Jul 29 at 4:58PM
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 Bradley Company | Elkhart
Investment Insights
Based on property information with market context.
This retail space is occupied by Verizon, with the tenant in place since 1997. The property is offered under full triple net lease terms, with no expenses to the owner. Improvements are supported by municipal utilities, and the site includes a large parking area suitable for day-to-day customer access.
The property offers great visibility on Main Street (US 33), with access on Shaffer Ave. Traffic counts include 12,627 on Main North of the Bypass, 13,505 south of the ByPass, and 20,562 on the US 20 ByPass.
Additional area context includes the 2021 population census showing 44,071 within three miles, 86,251 within five miles, and 189,955 within ten miles. The building size is 3,482 SF.
The property offers great visibility on Main Street (US 33), with access on Shaffer Ave. Traffic counts include 12,627 on Main North of the Bypass, 13,505 south of the ByPass, and 20,562 on the US 20 ByPass.
Additional area context includes the 2021 population census showing 44,071 within three miles, 86,251 within five miles, and 189,955 within ten miles. The building size is 3,482 SF.
Key Highlights
- Verizon tenant in place since 1997
- Full triple net lease, no expenses to owner
- 3,482 SF retail space with municipal utilities
Financial Insights For Retail
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 | $66.4k | $19.08 |
| − Vacancy | −$2.6k | −$0.74 |
| EGI | $63.8k | $18.34 |
| − OpEx | −$19.2k | −$5.50 |
| NOI | $44.7k | $12.84 |
3,482 SF · lease $19.08/SF/yr · vacancy 3.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$638.5K
$558.7K – $744.9K
NOI $44,692 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$644.7K
$564.1K – $752.1K
NOI $45,127 @ 7.0% cap · market cap 3.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Shops & Services 27%
Apparel 18%
Dining 13%
Martin's Super Markets
Groceries
27,881 visits/mo
0.2 miles
Goodwill
Apparel
9,452 visits/mo
0.3 miles
Taco Bell
Dining
7,419 visits/mo
0.4 miles
Chase Bank
Shops & Services
6,935 visits/mo
0.1 miles
Discount Tire Store
Shops & Services
4,598 visits/mo
0.2 miles
Demographics for 46517, IN
24,006
Population
9,915
Households
2.4
Avg Household Size
36
Median Age
15%
College-Educated
81%
High-School Grad
36.9 sq mi
ZIP Area
651
Density / Sq Mi
$53,263
Median Household Income
$34,649
Median Earnings
$942
Median Rent
$168,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with a Verizon tenant in place since 1997, full triple net lease terms, and a large on-site parking area.
Where is this retail space located?
The property is located at 3365 S Main St Elkhart, IN.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Verizon tenant in place since 1997; Full triple net lease, no expenses to owner; 3,482 SF retail space with municipal utilities
