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    232-246 Waterfall Dr Elkhart, IN 46516

    Sponsored
    For Sale
    $2,995,000

    Prime Elkhart Office Building - 23,180 SF

    Property size:
    23,180 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional executive office complex, situated on a generous 3.49-acre lot in desirable downtown Elkhart, Indiana, presents a unique investment opportunity. The property, built in 1985, boasts a total of 23,180 square feet of office space, offering significant potential for various business ventures. The building's prime location along the Elkhart River places it within easy walking distance of numerous amenities, including restaurants, county and city government buildings, banking institutions, Indiana University South Bend – Elkhart campus, and the public library. Its strategic position within the Gateway Mile Fund District further enhances its appeal. The property features attractive outdoor spaces, including balconies and decks, providing employees and tenants with pleasant areas for relaxation and informal meetings. While a 1,950 square foot suite is currently available for lease (NNN lease type), the entire 23,180 square foot building is offered for sale at $2,995,000. This presents a rare chance to acquire a substantial and well-located office property in a thriving Indiana community. The address is 232-246 Waterfall Drive, Elkhart, IN 46516.

    Property Features for 232-246 Waterfall Dr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    23,180 SF
    Lot Size
    152,024 SF

    Building Details

    Year Built
    1985

    HighLights

    • 23,180 SF office building on a 3.49‑acre lot.
    • Downtown Elkhart location on the Elkhart River, walkable to amenities including restaurants, government buildings, banks, and IUSB‑Elkhart.
    • Situated within the Gateway Mile Fund District.
    • Features balconies and decks.
    • 1,950 SF suite available for lease (NNN).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.9665744
    Latitude
    41.6852868

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Elkhart Office Building - 23,180 SF
    Where is this office property / space located?
    The property is located at 232-246 Waterfall Dr Elkhart, IN.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: 23,180 SF office building on a 3.49-acre lot.; Downtown Elkhart location on the Elkhart River, walkable to amenities including restaurants, government buildings, banks, and IUSB-Elkhart.; Situated within the Gateway Mile Fund District.
    (574) 849-5002
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    232-246 Waterfall Dr Elkhart, IN 46516
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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
    232-246 Waterfall Dr Elkhart, IN 46516
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