Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Elkhart Industrial Flex Space Title is generated by Realmo AI

    1814 Leer Dr, Elkhart, IN 46514

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    21,362 SF flex building in Park 6 Industrial Park.

    Type:Industrial, Office
    Property size:
    22,100 SF
    Price / SF:
    $32/SF
    Added:
    Sep 9, 2024
    Days on Market:
    635
    Last Refresh:
    May 13 at 12:10 am

    Property Features for 1814 Leer Dr

    General Information

    Standard status
    Active
    Size
    22,100 SF
    Property subtype
    Industrial, Office

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Blair Wozny
    Blair Wozny

    Listing agent Blair Wozny License #IN RB18001381

    Listing office NAI Cressy - Mishawaka

    Listing date Sep 9, 2024

    Source Crexi

    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 NAI Cressy - Mishawaka

    HighLights

    • Clear‑span building with high ceilings: Approximately 18’-22.25’ clear height, suitable for various industrial uses.
    • Substantial total area: Approximately 21,362 SF total building area, providing ample space for operations.
    • Flexible space configuration: Includes lab/production, office, and warehouse space, with potential for high‑bay conversion.
    • Strategic location in Park 6 Industrial Park, North Elkhart, with proximity to major roads (CR 6, CR 11, CR 13).
    • Situated on Leer Drive, known for its established industrial presence, especially in the RV manufacturing sector.
    • Convenient access to restaurants, parks, and retail options, offering convenience for employees and visitors.

    Overview

    This clear-span building offers approximately 21,362 square feet of space, including 6,852 square feet on the second floor. Clear heights reach approximately 18 feet at the eaves and 22.25 feet at the peak, with clear heights to the deck of 22 feet at the eaves and 24.25 feet at the peak. The first floor features 6,793 square feet of lab/production space, 2,352 square feet of office space, and 5,365 square feet of warehouse space, along with an approximately 850-square-foot attached lean-to with a clear height of approximately 10.5 feet. The second floor includes 4,207 square feet of lab/production space and 2,645 square feet of office space. Much of the office and lab/production space can be removed to create a high-bay area. The property is located on the north side of Elkhart in Park 6 Industrial Park, situated off County Road 6, between County Road 11 and County Road 13. Leer Drive in Elkhart, Indiana, is known for its industrial presence, particularly in the recreational vehicle (RV) manufacturing sector. The location provides convenient access to various amenities, including restaurants, parks, and retail options.
    Property Profile Location Intelligence

    Current Use by Public Records

    EKF Life Sciences Industrial Manufacturer

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.948981
    Latitude
    41.72643

    Nearby Similar for Sale

    • $599,900

      Elkhart Downtown Investment Opportunity

      Multi-tenant office and coworking space with income and upside potential.
      223 S Main Street, Elkhart, IN 46514
      View Details
    • $295,000
      5,920 SF

      Elkhart Mixed-Use Manufacturing Building

      6000 SF M1-zoned building with manufacturing and office space.
      808 S 9th Street, Elkhart, IN 46516
      View Details
    • $575,000

      Elkhart Office/Medical/Dental Opportunity

      Office building for sale in Elkhart, Indiana.
      105 N Nappanee Street, Elkhart, IN 46514
      View Details
    • $650,000

      Elkhart Bed & Breakfast Opportunity

      Bed & Breakfast with income potential in Elkhart, Indiana.
      529 S Second Street, Elkhart, IN 46516
      View Details
    • $295,000

      Versatile Commercial Property in Elkhart

      B-1 zoned property suitable for retail, office, or service businesses.
      21807 State Road 120 Road, Elkhart, IN 46516
      View Details
    • $499,000
      10,290 SF

      Elkhart Multifamily Investment Opportunity

      12-unit property with income and value-add potential in Elkhart.
      701 W Beardsley Avenue, Elkhart, IN 46514
      View Details
    • $2,799,900

      Elkhart Manufacturing Facility For Sale

      Well-maintained manufacturing property with potential rail siding in Elkhart, Indiana.
      2700 Industrial Parkway, Elkhart, IN 46516
      View Details
    • $499,000

      Elkhart Multifamily Investment Opportunity

      12-unit property with income and value-add potential in Elkhart.
      701 W Beardsley Avenue, Elkhart, IN 46514
      View Details
    • $25,000

      Elkhart Restaurant/Bar Investment Opportunity

      Commercial property with restaurant infrastructure and redevelopment potential in Elkhart.
      900 S Main Street, Elkhart, IN 46516-3710
      View Details
    • $225,000

      Well-Maintained Office Units

      Two well-maintained office units with straightforward access along a busy road in Elkhart.
      2603 Toledo Rd, Elkhart, IN 46516-5769
      View Details
    • $324,900
      1,311 SF

      Updated Duplex

      Well maintained duplex with recent roof, HVAC, and water heater updates in the Concord Schools area.
      23724/23726 Springriver Drive, Elkhart, IN 46516
      View Details
    • $175,900

      Versatile Commercial Building in Elkhart

      Adaptable commercial space suitable for various business ventures.
      1801 wood Street, Elkhart, IN 46516
      View Details

    FAQs

    What type of property is this?
    Flex space - 21,362 SF flex building in Park 6 Industrial Park.
    Where is this flex space located?
    The property is located at 1814 Leer Dr Elkhart, IN.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Clear‑span building with high ceilings: Approximately 18’-22.25’ clear height, suitable for various industrial uses.; Substantial total area: Approximately 21,362 SF total building area, providing ample space for operations.; Flexible space configuration: Includes lab/production, office, and warehouse space, with potential for high‑bay conversion.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Blair Wozny
    Blair Wozny
    Real Estate License ID: IN RB18001381
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1814 Leer Dr, Elkhart, IN 46514
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!