Leased Restaurant and Mixed-Use
705 E County Road 6 Road Elkhart, IN 46514
For Sale
Contact for pricing
Fully leased restaurant building on a PUD-zoned site with substantial frontage on a heavily traveled corridor.
Property Size16,150 SF
Lot Size3.42 Acres
Price / SF$170.28
Days on Market56
Property Features for 705 E County Road 6 Road
General Information
Standard status
Active
Size
16,150 SF
Lot size
3.42 Acres
Property subtype
Special Purpose
Building Details
Year Built
1988
Listing Agency:
Coldwell Banker Commercial Roth Wehrly Graber South Bend
(574) 277-8000
Listed By:
John Piraccini · License #RB14045659
Source:
Crexi
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 28 at 11:06AM
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 Coldwell Banker Commercial Roth Wehrly Graber South Bend
Investment Insights
Based on property information with market context.
This property presents a restaurant-focused opportunity with room for broader development under PUD zoning. It includes a fully leased 16,150 SF building and a 3.42-acre site with nearly 400 feet of frontage. The units are equipped with individually metered gas forced-air heating, central A/C, and 200-amp electrical service. The building also includes handicap-accessible restrooms, water heaters, furnace rooms, and storage areas. A 3-way liquor license is included as used by Margarita’s Mexican Restaurant.
The site is located on heavily traveled County Road 6E with traffic counts over 18,000 cars daily, just off the corner with State Road 19 with traffic counts over 20,000 cars daily. It sits within a strong retail corridor, with access to major routes and local destinations, including the IN-19 interchange and Simonton Lake.
For tenants and operators, the property’s existing restaurant buildout and utilities support continued food service operations. For buyers, the PUD: Planned Unit Development zoning provides flexibility for a range of mixed-use development concepts while retaining income-producing occupancy in the current building.
The site is located on heavily traveled County Road 6E with traffic counts over 18,000 cars daily, just off the corner with State Road 19 with traffic counts over 20,000 cars daily. It sits within a strong retail corridor, with access to major routes and local destinations, including the IN-19 interchange and Simonton Lake.
For tenants and operators, the property’s existing restaurant buildout and utilities support continued food service operations. For buyers, the PUD: Planned Unit Development zoning provides flexibility for a range of mixed-use development concepts while retaining income-producing occupancy in the current building.
Key Highlights
- Fully leased 16,150 SF restaurant building on a PUD: Planned Unit Development–zoned site
- 3.42 acres with nearly 400 ft of frontage on heavily traveled CR 6 E (over 18,000 cars daily) just off SR 19 (over 20,000 cars daily)
- Year built: 1988
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $290.7k | $18.00 |
| − Vacancy | −$11.6k | −$0.72 |
| EGI | $279.1k | $17.28 |
| − OpEx | −$69.8k | −$4.32 |
| NOI | $209.3k | $12.96 |
16,150 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.99M
$2.62M – $3.49M
NOI $209,304 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully leased restaurant building on a PUD-zoned site with substantial frontage on a heavily traveled corridor.
Where is this conventional restaurant located?
The property is located at 705 E County Road 6 Road Elkhart, IN.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Fully leased 16,150 SF restaurant building on a PUD: Planned Unit Development–zoned site; 3.42 acres with nearly 400 ft of frontage on heavily traveled CR 6 E (over 18,000 cars daily) just off SR 19 (over 20,000 cars daily); Year built: 1988
