Industrial Warehouse
For Sale
Contact for pricing
4405 Wyland Drive, Elkhart, IN 46516
Warehouse building offering 15,725 SF of industrial space for logistics, storage, or light distribution needs.
Property Size15,725 SF
Price / SF$69.95
Days on Market75
Property Features for 4405 Wyland Drive
General Information
Standard status
Active
Size
15,725 SF
Class
C
Property subtype
Industrial
Building Details
Year Built
1991
Listing Agency:
Pinnacle Properties
(574) 315-9615
Listed By:
Ryan White · License #IN
Source:
Crexi
Added: May 27
Changed: Aug 8
Last Checked: Aug 8 at 7:47AM
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 Pinnacle Properties
Investment Insights
Based on property information with market context.
The property is an industrial warehouse building totaling 15,725 square feet, offered for sale. The asset is described as an industrial warehouse within the available commercial real estate category, providing a practical footprint for companies seeking dedicated space to store inventory or support distribution activities.
Located at 4405 Wyland Drive in Elkhart, Indiana, the property’s stated address supports straightforward access for tenant operations and vendor deliveries. As presented, the offering is focused on the building and its industrial configuration rather than specialized amenities or additional site improvements.
For buyers or operating users, this warehouse size can be a workable option for warehousing, fulfillment, or other industrial storage requirements where an established warehouse footprint is needed. Buyers evaluating industrial properties for sale can assess how the 15,725 SF layout aligns with their space planning, staging, and day-to-day operating needs.
Located at 4405 Wyland Drive in Elkhart, Indiana, the property’s stated address supports straightforward access for tenant operations and vendor deliveries. As presented, the offering is focused on the building and its industrial configuration rather than specialized amenities or additional site improvements.
For buyers or operating users, this warehouse size can be a workable option for warehousing, fulfillment, or other industrial storage requirements where an established warehouse footprint is needed. Buyers evaluating industrial properties for sale can assess how the 15,725 SF layout aligns with their space planning, staging, and day-to-day operating needs.
Key Highlights
- Industrial warehouse building built in 1991
- 15,725 SF industrial space for logistics, storage, or light distribution
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$94,229
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,884,580
$1.9M
Cap Rate 7%
$1,346,129
$1.3M
Cap Rate 9%
$1,046,989
$1.0M
Market Conditions
NOI Build-Up for 15,725 SF
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.
Gross rent
$149.1K $9.48/SF
− Vacancy
−$14.5K −$0.92/SF
EGI
$134.6K $8.56/SF
− OpEx
−$40.4K −$2.57/SF
NOI
$94.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,884,580
Cap Rate 7%
$1,346,129
Cap Rate 9%
$1,046,989
Alternative Uses
Best Use
Warehouse
$1.63M
$1.43M – $1.91M
NOI $114,421 @ 7.0% cap · market cap 10.40%
Second Best
Industrial
$1.35M
$1.18M – $1.57M
NOI $94,229 @ 7.0% cap · market cap 8.57%
Theoretical Best
Specialty Retail
$2.91M
$2.55M – $3.40M
NOI $203,796 @ 7.0% cap · market cap 18.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Well-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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Six Span Storage — 217 County Rd 17 suite b, Elkhart, IN 46516
- Elkhart Moving & Storage — 610 County Rd 15, Elkhart, IN 46516
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse building offering 15,725 SF of industrial space for logistics, storage, or light distribution needs.
Where is this warehouse located?
The property is located at 4405 Wyland Drive Elkhart, IN.
What is the asking price?
The asking price for this property is $1,099,963.
What are key features of this property?
This property features: Industrial warehouse building built in 1991; 15,725 SF industrial space for logistics, storage, or light distribution
