Former Automotive Shop For
2501 W Lexington Ave Elkhart, IN 46514
2501 W Lexington Ave, Elkhart, IN, 46514
Contact for pricing
For Sale
Contact for pricing
2880 SF former automotive shop available for purchase.
Property Size2,880 SF
Price / SF$121.18
Days on Market1534
Property Features for 2501 W Lexington Ave
General Information
- Standard status
- Active
- Size
- 2,880 SF
- Property subtype
- Industrial
Listing Agency
Bradley Company South Bend
(574) 970-9006
Listed by
Matt Wetzel · License #RB14048578
Source
Crexi
Added: May 9, 2022 Checked: Jul 19 at 8:16 am
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
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
Local Financial Insights For Industrial
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 | $27.3k | $9.48 |
| − Vacancy | −$2.6k | −$0.92 |
| EGI | $24.7k | $8.56 |
| − OpEx | −$7.4k | −$2.57 |
| NOI | $17.3k | $5.99 |
2,880 SF · lease $9.48/SF/yr · vacancy 9.70% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
U-Haul Neighborhood Dealer
Car Rental Facility
OFY Performance
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- gmps-tom-naquin — tom naquin chevrolet cadillac, 2500 w lexington ave, elkhart, in 46514
- Autobahn Automotive — 1405 S Nappanee St, Elkhart, IN 46516
- Tom Naquin Nissan Service — 2500 W Lexington Ave Ste. A, Elkhart, IN 46514
- J&S Tire Shop — 1615 W Lexington Ave, Elkhart, IN 46514
- Tom Naquin Chevrolet Cadillac Service — 2500 W Lexington Ave, Elkhart, IN 46514
FAQs
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
