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    516 Co Rd Elkhart, IN 46514

    For Sale
    $3,695,000

    High-traffic location, 3.2 acres, two buildings.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional commercial development opportunity is situated on a prime 3.2-acre lot in Elkhart, Indiana, boasting 726 feet of frontage on County Road 6 and a depth of 317 feet. The property, zoned B-2 and located within a Tax Increment Financing (TIF) district, benefits from high daily traffic counts exceeding 22,000 vehicles. The site includes two existing structures: a 5,367 square-foot block building and a residential structure. The property also encompasses vacant land to the north and west, offering significant expansion potential. The property's strategic location is further enhanced by its proximity to established businesses such as McDonald's and a Marathon gas station. Built in 1977, this single-story property presents a unique chance to capitalize on a high-traffic corridor. The current tenant will vacate by February 2025, providing immediate opportunity for redevelopment or lease. The asking price is $3,695,000. The property addresses include 516 and 600 County Road 6, Elkhart, IN 46514. This is a rare chance to acquire a substantial commercial property in a thriving location.

    Property Features for 516 Co Rd

    General Information

    Property type
    Lifestyle centers
    Lot Size
    139,392 SF

    Building Details

    Year Built
    1977
    Buildings
    1
    Stories
    1

    HighLights

    • $3,695,000 asking price for this retail property.
    • 3.2‑acre lot with B‑2 zoning in an Elkhart, Indiana TIF district.
    • High traffic location: 22,000+ cars daily, adjacent to McDonald's and a Marathon gas station.
    • Two existing structures totaling 5,367 square feet, plus a residential building.
    • Property includes vacant land and has approximately 726 feet of frontage on CR 6.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.9709916
    Latitude
    41.7246047

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic location, 3.2 acres, two buildings.
    Where is this lifestyle center located?
    The property is located at 516 Co Rd Elkhart, IN.
    What is the asking price?
    The asking price for this property is $3,695,000.
    What are key features of this property?
    This property features: $3,695,000 asking price for this retail property.; 3.2-acre lot with B-2 zoning in an Elkhart, Indiana TIF district.; High traffic location: 22,000+ cars daily, adjacent to McDonald's and a Marathon gas station.
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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
    516 Co Rd Elkhart, IN 46514
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