Net-Leased Dental Medical Office
For Sale
Contact for pricing
Pending
415 Waterfall Dr, Elkhart, IN 46516
Two-tenant net-leased medical office building with Heartland Dental and Lighthouse Autism Center, totaling 8,000 SF.
Property Size8,000 SF
Days on Market235
Property Features for 415 Waterfall Dr
General Information
Standard status
Pending
Size
8,000 SF
Property subtype
Office, Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Additional Details
Cap Rate
7%
Building Details
Year Built
1991
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Peranich Huffman
Listed By:
Lucas Zemlicka · License #767664
Source:
Crexi
Added: Jan 15
Changed: Aug 8
Last Checked: Jul 24 at 6:24PM
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Under-served
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
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Frequently Asked Questions
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
