Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21966 Co Rd 45 Goshen, IN 46528

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land with well access near Elkhart County courts.

    Type:Land
    Added:
    May 9, 2023
    Days on Market:
    1076
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 21966 Co Rd 45

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Scott Griffith

    Listing agent Scott Griffith License #RB14043621

    Listing office Endeavour Commercial

    Listing date May 9, 2023

    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 Endeavour Commercial

    Overview

    Commercial Land Near County Courts

    This commercial land is located approximately 1/4 mile from County Road 17 on County Road 45/Wilden Avenue. The location is near the new Elkhart County consolidated courts. Each lot benefits from access to a common well. The property features landscaping and a parking lot. Two large signs are on site, with dedicated space for each lot's end user. The Fireside Center is currently home to Sunrise Sprinkler & Hometown Mortgage.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Goshen
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.890565
    Latitude
    41.617733

    Nearby Similar for Sale

    • $899,900

      Commercial Land on US 33

      4.29 acre commercial opportunity with road frontage on US 33.
      66278 US Highway 33, Goshen, IN 46526
      View Details
    • $152,500

      Versatile Office Building in Goshen

      1,364 SF office building with five private offices.
      2700 W Wilden Avenue, Goshen, IN 46528
      View Details
    • $1,150,000

      Downtown Goshen Mixed-Use Opportunity

      Iconic property with office and warehouse space in Goshen.
      114 S Main Street, Goshen, IN 46526
      View Details
    • $850,000
      2,560 SF

      Renovated Duplex on 10+ Acres

      Updated duplex on 10.8 acres with income potential.
      65940 US 33, Goshen, IN 46526
      View Details
    • $350,000

      Mixed-Use Property on Main Street

      Mixed-use property with office/retail space and historical charm.
      118 116 N Main Street, Goshen, IN 46526
      View Details
    • $399,000
      2,635 SF

      Goshen Fiveplex Investment Opportunity

      Fully occupied five-unit investment property near downtown Goshen, Indiana.
      1323 S 8th Street, Goshen, IN 46528
      View Details
    • $285,000

      Church Building with Commercial Zoning

      Church building with commercial zoning, large kitchen, and vacant lot.
      14052 County Road 34 Road, Goshen, IN 46528
      View Details
    • $299,900

      Downtown Goshen Office Space Available

      Two-level office space in downtown Goshen with multiple private offices.
      117 W Washington Street, Goshen, IN 46526
      View Details
    • $1,444,900

      Multi-Functional Office Building in Goshen

      Updated office building with multiple levels and business service potential.
      301 W Lincoln Avenue, Goshen, IN 46526-3227
      View Details
    • $1,295,000

      Goshen Manufacturing and Industrial Facility

      Manufacturing and industrial facility with recent updates in Goshen, Indiana.
      2211 W Wilden Avenue, Goshen, IN 46526
      View Details
    • $274,900
      2,050 SF

      Goshen Fiveplex with Remodeled Units

      Five-unit property in Goshen with excellent cash flow potential.
      308 E Madison Street, Goshen, IN 46526-3456
      View Details
    • $179,900
      2,196 SF

      Goshen Duplex with Tenant History

      Duplex in Goshen with long-term tenants.
      313 S 7th Street, Goshen, IN 46528
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land with well access near Elkhart County courts.
    Where is this commercial land located?
    The property is located at 21966 Co Rd 45 Goshen, IN.
    What is the asking price?
    The asking price for this property is $59,900.
    What are key features of this property?
    This property features: Ideal location near the new Elkhart County consolidated courts.; Beautiful landscape and parking lot already in place.; Access to a common well for ease of development.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Scott Griffith
    Real Estate License ID: RB14043621
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!