Automotive Dealership with
New
For Sale
$630,000
508 Lincolnway W, Osceola, IN 46561
Established automotive business with commercial real estate, operating LLC, fixtures, equipment, and on-site parking.
Property Size2,044 SF
Price / SF$308.22
Days on Market6
Property Features for 508 Lincolnway W
General Information
Standard status
Active
Size
2,044 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1985
Listing Agency:
McKinnies Realty, LLC Elkhart
Listed By:
Kavita Patel · License #RB22002108
(574) 387-9959
Source:
Kmsrealestategroup
Added: Aug 29
Changed: Aug 30
Last Checked: Sep 1 at 10:12PM
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 McKinnies Realty, LLC Elkhart
Investment Insights
Based on property information with market context.
This automotive dealership property includes a 2,044-square-foot commercial building constructed in 1985, along with site improvements, fixtures, and operating equipment. The offering also includes the business’s operating LLC, while vehicle inventory is excluded and may be addressed separately by agreement.
The property is located at 508 Lincolnway W in Osceola, along a commercial corridor described as having strong exposure and substantial frontage. Its setting provides access to the broader South Bend, Mishawaka, and Elkhart area, as well as the Indiana Toll Road. Zoning, measurements, permitted uses, and intended use require independent buyer verification.
The property is located at 508 Lincolnway W in Osceola, along a commercial corridor described as having strong exposure and substantial frontage. Its setting provides access to the broader South Bend, Mishawaka, and Elkhart area, as well as the Indiana Toll Road. Zoning, measurements, permitted uses, and intended use require independent buyer verification.
Key Highlights
- 2,044‑square‑foot commercial building constructed in 1985
- Automotive dealership business offered with the real estate
- Operating LLC included in the offering
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
$28,373
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
4.50%
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%
$567,460
$567.5K
Cap Rate 7%
$405,329
$405.3K
Cap Rate 9%
$315,256
$315.3K
Market Conditions
NOI Build-Up for 2,044 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
$44.9K $21.96/SF
− Vacancy
−$4.4K −$2.13/SF
EGI
$40.5K $19.83/SF
− OpEx
−$12.2K −$5.95/SF
NOI
$28.4K $13.88/SF
Area
St. Joseph County, IN
Vacancy
9.70%
Lease Rate
$21.96 /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%
$567,460
Cap Rate 7%
$405,329
Cap Rate 9%
$315,256
Alternative Uses
Best Use
Retail
$405.3K
$354.7K – $472.9K
NOI $28,373 @ 7.0% cap · market cap 4.50%
Second Best
Industrial
$250.6K
$219.3K – $292.4K
NOI $17,544 @ 7.0% cap · market cap 2.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Dining 10%
Dollar General
Shops & Services
7,490 visits/mo
0.3 miles
Phillips 66
Shops & Services
5,742 visits/mo
0.3 miles
SUBWAY
Dining
1,554 visits/mo
0.3 miles
Red Dot Storage
Shops & Services
484 visits/mo
0.3 miles
Demographics for 46561, IN
14,155
Population
5,580
Households
2.5
Avg Household Size
38
Median Age
26%
College-Educated
92%
High-School Grad
13.6 sq mi
ZIP Area
1,041
Density / Sq Mi
$83,520
Median Household Income
$43,107
Median Earnings
$1,137
Median Rent
$208,200
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?
Automotive property - Established automotive business with commercial real estate, operating LLC, fixtures, equipment, and on-site parking.
Where is this automotive property located?
The property is located at 508 Lincolnway W Osceola, IN.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 2,044‑square‑foot commercial building constructed in 1985; Automotive dealership business offered with the real estate; Operating LLC included in the offering
