Building Details

Year Built 1963

Buildings 1

Listing Agency: McKinnies Realty, LLC Elkhart

Listed By: Joshua Schirr, Krissy Yoder

Source: Callcriswell

Added: Sep 7 Changed: Oct 16 Last Checked: Oct 7 at 2:41PM

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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

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Investment Insights

Based on property information with market context.

This 5,168-square-foot flex property at 508 W Lincoln Ave in Goshen includes a mixed commercial layout with approximately half of the building currently leased for warehouse use. The balance is available for occupancy and offers space that can be adapted for a range of commercial concepts. The building formerly operated as a bakery, adding a prior food-service use to its operating history.

Built in 1963, the property combines an existing income component with additional usable area under the same roof. Its configuration may accommodate retail, office, food service, warehouse, or other commercial applications, subject to applicable requirements. The property is located in Goshen, Indiana, along W Lincoln Ave.

Key Highlights

• 5,168‑square‑foot flex property at 508 W Lincoln Ave in Goshen
• Approximately half of the building is leased for warehouse use
• Remaining building area is available for occupancy

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,604

Cap Rate

6.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$752,080 $752.1K

Cap Rate 7%

$537,200 $537.2K

Cap Rate 9%

$417,822 $417.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,168 SF

Gross rent

$49.0K $9.48/SF

− Vacancy

−$4.8K −$0.92/SF

EGI

$44.2K $8.56/SF

− OpEx

−$6.6K −$1.28/SF

NOI

$37.6K $7.28/SF

Area

Elkhart County, IN

Vacancy

9.70%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$752,080

Cap Rate 7%

$537,200

Cap Rate 9%

$417,822

Alternative Uses

Best Use

Warehouse

$537.2K

$470.1K – $626.7K (±1% cap)

NOI $37,604 @ 7.0% cap · market cap 6.84%

Second Best

Industrial

$442.4K

$387.1K – $516.1K (±1% cap)

NOI $30,968 @ 7.0% cap · market cap 5.63%

Theoretical Best

Specialty Retail

$956.8K

$837.2K – $1.12M (±1% cap)

NOI $66,977 @ 7.0% cap · market cap 12.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Fused 508 (Bike/Boat/Book/etc) Store Hello Sugar Esthetics ... Hair Salon Dutch Maid Bakery Bakery In-Style Salon Hair Salon Brows by Erika Hair Salon

Suggested Use

Top Pick Big Box & Wholesale Store Dental Office Real Estate Agency HVAC Service Building Supply Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,017

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 46526, IN

33,170

Population

12,570

Households

2.6

Avg Household Size

36

Median Age

24%

College-Educated

82%

High-School Grad

67.1 sq mi

ZIP Area

494

Density / Sq Mi

$65,864

Median Household Income

$36,446

Median Earnings

$1,061

Median Rent

$192,900

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Mixed commercial configuration with occupied warehouse space and additional area available for a new business use.

Where is this flex space located?

The property is located at 508 W Lincoln Ave Goshen, IN.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: 5,168‑square‑foot flex property at 508 W Lincoln Ave in Goshen; Approximately half of the building is leased for warehouse use; Remaining building area is available for occupancy