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    3505 Cooper Dr Elkhart, IN 46514

    Sponsored
    For Sale
    $850,000

    Industrial, Light Industry Mfg,Warehouse - Elkhart, IN

    Type:Manufactured Home
    Lot size:
    2.66 Acres
    Days on Market:
    9
    Last Refresh:
    Jan 14 at 8:06 am

    Property Features for 3505 Cooper Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Manufactured Home
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Office
    Bathrooms
    3
    APN
    20-02-26-176-008.000-027
    Parking features
    Paved or Surfaced
    Interior features
    Other, 440 Volts, Three Phase, Overhead Door 1, Overhead Door 2, Office Space, Reception Area
    Exterior features
    Fence, 440 Volts, Three Phase, Fenced, Loading Dock 1, Overhead Door 1, Overhead Door 2, Office Space, Reception Area
    Fencing
    Fenced
    Lot size
    2.66 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1983
    Floors in Building
    1
    Flooring type
    Concrete, Laminate
    Roof type
    Metal
    Architectural style
    Other

    Lunch Partners LLC dba Realty Group Resources (574) 215-8543 [email protected]

    Listing agent Stephen Bottom (574) 264-2000 License #RB14033315

    Listing date Jan 6, 2026

    MLS# 202547000 Listing URL

    Copyright © 2026 Elkhart County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Elkhart Industrial/Warehouse Opportunity

    This industrial/warehouse property is located in Elkhart and is currently used for light manufacturing. It offers convenient access to the toll road and bypass. The property features new LED lights, fire extinguishers, and lighted exit signs. The office space has been remodeled with new flooring and fresh paint. It includes 480 Volt 3 Phase Power and a loading dock. Situated on a 2.66-acre lot, the property provides room for expanding operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alpha Republic Store

    Suggested Use

    Realty agency Law Firm Spa & Massage Building Supply Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.91962
    Latitude
    41.719854

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    FAQs

    What type of property is this?
    Manufacturing property - Industrial/warehouse property in Elkhart with easy access and expansion potential.
    Where is this manufacturing property located?
    The property is located at 3505 Cooper Dr Elkhart, IN.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Large 2.66 acre lot with room to expand operations; - 480 Volt 3 Phase Power and Loading Dock; - Easy access to the toll road or bypass
    (574) 903-6004
    Request Owner's contact information
    3505 Cooper Dr Elkhart, IN 46514
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    Elkhart, IN 46514
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    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.

    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
    3505 Cooper Dr Elkhart, IN 46514
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