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    2820 Cassopolis St Elkhart, IN 46514

    Sponsored
    For Sale
    $3,250,000

    120-Room Hotel, Prime Location

    Property size:
    41,497 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 41,497 square foot hotel in Elkhart, Indiana, presents a unique redevelopment opportunity. Located on a 2.93-acre corner lot with excellent visibility, the property features three buildings, including a main structure with lobby, reception, and breakfast area, and two additional buildings housing 120 guest rooms (60 rooms per building) arranged over two floors with exterior corridors. The property boasts 142 on-site parking spaces and benefits from high traffic counts due to its location on Cassopolis Street (SR-19) and Oakwood Avenue, offering approximately 185 feet and 835 feet of frontage respectively, with two existing curb cuts. Zoned B-3, this property is ideally situated near the 80/90 Toll Road and State Road 19, providing easy access to the Elkhart Municipal Airport and South Bend International Airport. Its prime location within Elkhart's northern retail corridor places it close to numerous businesses, restaurants, and entertainment options. The asking price is $3,250,000, translating to $78.32 per square foot. This property is perfect for either continued operation as a hotel or for adaptive reuse into a variety of commercial ventures.

    Property Features for 2820 Cassopolis St

    General Information

    Property type
    Hotels
    Square Feet
    41,497 SF
    Lot Size
    127,631 SF

    HighLights

    • Ideal for hotel operation or redevelopment.
    • Prime location with high visibility and accessibility.
    • Significant upside potential through renovations or repositioning.
    • Strong historical occupancy rates and revenue generation.
    • Attractive investment opportunity with solid returns.
    Property Profile Location Intelligence

    Current Use by Public Records

    Daylite Inn Inn Greyhound: Bus Stop Bus Company 2820 Cassopolis St, ... Hotel Hotel O Daylight ... Hotel

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.9726677
    Latitude
    41.7256891

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    FAQs

    What type of property is this?
    Hotel - 120-Room Hotel, Prime Location
    Where is this hotel located?
    The property is located at 2820 Cassopolis St Elkhart, IN.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: Ideal for hotel operation or redevelopment.; Prime location with high visibility and accessibility.; Significant upside potential through renovations or repositioning.
    Request Owner's contact information
    2820 Cassopolis St Elkhart, IN 46514
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    Elkhart, IN 46514
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2820 Cassopolis St Elkhart, IN 46514
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