Former Automotive Shop For
For Sale
Contact for pricing
2501 W Lexington Ave, Elkhart, IN 46514
2880 SF former automotive shop available for purchase.
Property Size2,880 SF
Price / SF$121.18
Days on Market1626
Property Features for 2501 W Lexington Ave
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Industrial
Zoning
B-2 Community Business District (City of Elkhart)
Building Details
Buildings
1
Listing Agency:
Bradley Company South Bend
Listed By:
Matt Wetzel · License #RB14048578
(574) 970-9006
Source:
Crexi
Added: May 9, 2022
Changed: Oct 4
Last Checked: Oct 19 at 7:32AM
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 Bradley Company South Bend
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property is a former automotive shop. It has a size of 2880 square feet.
Key Highlights
- Former automotive shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,258
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,160
$345.2K
Cap Rate 7%
$246,543
$246.5K
Cap Rate 9%
$191,756
$191.8K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$27.3K $9.48/SF
− Vacancy
−$2.6K −$0.92/SF
EGI
$24.7K $8.56/SF
− OpEx
−$7.4K −$2.57/SF
NOI
$17.3K $5.99/SF
Area
Elkhart County, IN
Vacancy
9.70%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,160
Cap Rate 7%
$246,543
Cap Rate 9%
$191,756
Alternative Uses
Best Use
Retail
$528.1K
$462.1K – $616.1K
NOI $36,965 @ 7.0% cap · market cap 10.59%
Second Best
Industrial
$246.5K
$215.7K – $287.6K
NOI $17,258 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$533.2K
$466.6K – $622.1K
NOI $37,325 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46514, IN
42,048
Population
17,987
Households
2.3
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
38.7 sq mi
ZIP Area
1,087
Density / Sq Mi
$61,784
Median Household Income
$40,909
Median Earnings
$1,084
Median Rent
$170,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Autobahn Automotive — 1405 S Nappanee St, Elkhart, IN 46516
- J&S Tire Shop — 1615 W Lexington Ave, Elkhart, IN 46514
- Quality Restoration Services Inc — 2846 Old U.S. 20 W, Elkhart, IN 46514
- gmps-tom-naquin — tom naquin chevrolet cadillac, 2500 w lexington ave, elkhart, in 46514
- Tom Naquin Nissan Service — 2500 W Lexington Ave Ste. A, Elkhart, IN 46514
Frequently Asked Questions
What type of property is this?
Auto shop - 2880 SF former automotive shop available for purchase.
Where is this auto shop located?
The property is located at 2501 W Lexington Ave Elkhart, IN.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Former automotive shop
