Net-Leased Dental Medical Office
415 Waterfall Dr Elkhart, IN 46516
For Sale
Contact for pricing
Pending
Two-tenant net-leased medical office building with Heartland Dental and Lighthouse Autism Center, totaling 8,000 SF.
Property Size8,000 SF
Days on Market189
Property Features for 415 Waterfall Dr
General Information
- Standard status
- Pending
- Size
- 8,000 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1991
Listing Agency:
Peranich Huffman
Listed By:
Lucas Zemlicka · License #767664
Source:
Crexi
Added: Jan 15
Changed: Jul 23
Last Checked: Jul 23 at 5:56AM
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 Peranich Huffman
Investment Insights
Based on property information with market context.
A net-leased medical office building configured for two tenants, totaling approximately 8,000 SF. Heartland Dental occupies 4,050 SF (51%), and has been in place since acquiring the practice in 2020. That lease includes more than 4.5 years remaining and features 1.5% annual rental escalations. Lighthouse Autism Center occupies the remaining 3,950 SF (49%).
The property is offered with a stated 7.00% capitalization rate and is 100% occupied. Lease terms are structured on a net basis, with tenants responsible for expenses related to HVAC, interior/non-structural elements, insurance, property taxes, and utilities. The landlord is responsible for maintenance and replacement of the roof and structure, and for Lighthouse Autism Center, the parking lot.
Lighthouse Autism Center’s NNN reimbursements are capped at $8.50 per square foot. The leases are fixed with annual rent escalations, supporting a stabilized income stream for an investor.
The property is offered with a stated 7.00% capitalization rate and is 100% occupied. Lease terms are structured on a net basis, with tenants responsible for expenses related to HVAC, interior/non-structural elements, insurance, property taxes, and utilities. The landlord is responsible for maintenance and replacement of the roof and structure, and for Lighthouse Autism Center, the parking lot.
Lighthouse Autism Center’s NNN reimbursements are capped at $8.50 per square foot. The leases are fixed with annual rent escalations, supporting a stabilized income stream for an investor.
Key Highlights
- Two‑tenant net‑leased medical office building totaling 8,000 SF, built in 1991
- Heartland Dental tenant occupies 4,050 SF (51%); lease in place since 2020 with over 4.5 years remaining
- Heartland Dental lease includes 1.5% annual rental escalations
Property Analytics
Location Intelligence
Current Use by Public Records
Roger Daron Sheline, ...
Dental Office
Sheline, R Daron ...
Dental Office
Hacken Orthodontics, P.C.
Dental Office
Complete Family Dentistry
Dental Office
Ashley Carle
Physician
FAQs
What type of property is this?
Medical Office Space - Two-tenant net-leased medical office building with Heartland Dental and Lighthouse Autism Center, totaling 8,000 SF.
Where is this medical office space located?
The property is located at 415 Waterfall Dr Elkhart, IN.
What are key features of this property?
This property features: Two‑tenant net‑leased medical office building totaling 8,000 SF, built in 1991; Heartland Dental tenant occupies 4,050 SF (51%); lease in place since 2020 with over 4.5 years remaining; Heartland Dental lease includes 1.5% annual rental escalations
