Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Mishawaka Rd & Concord Mall Dr Elkhart, IN 46517
    Back to Search
    Property profile & analytics

    Mishawaka Rd & Concord Mall Dr Elkhart, IN 46517

    View on Map
    • Land
    • 1.60 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Mishawaka Rd & Concord Mall Dr

    Lot size
    1.60 lot acres
    Property type
    Land

    Description

    This exceptional 1.6-acre commercial land parcel presents a prime investment opportunity in Elkhart, Indiana. Located at the highly visible corner of Mishawaka Road and Concord Mall Drive, this B-4 Regional Business District zoned property boasts a strategic location just west of US 33, offering unparalleled access and visibility. The site is situated a short distance from a newly opened Martin's Supermarket, ensuring high traffic counts and strong consumer presence. Its proximity to the recently acquired Concord Mall and established residential neighborhoods creates a diverse and attractive market. The property is ideally suited for a variety of commercial uses, including service retail, office, or medical facilities. All essential utilities, including water and sewer, are readily available, simplifying development plans. The asking price is $240,000, representing a land value of $150,000 per acre. The parcel's APN is 20-06-22-451-003.000-011. This is a rare opportunity to acquire a well-positioned commercial lot with significant development potential in a thriving Indiana community. Don't miss this chance to secure a valuable asset in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.9328
    Latitude
    41.6393

    Comparable in this City

    • Value Estimation by Request
      40.00 Acres

      26 & Sr 19

      Land • 40.00 Acres
      26 & Sr 19, Elkhart, IN 46517
      View Details
    • Value Estimation by Request
      6.52 Acres

      3621 Nappanee St

      Land • 6.52 Acres
      3621 Nappanee St, Elkhart, IN 46517
      View Details
    • Value Estimation by Request

      26 Sr 19 & County Rd

      Land
      26 Sr 19 & County Rd, Elkhart, IN 46517
      View Details
    • Value Estimation by Request
      2.60 Acres

      Charlotte Ave

      Land • 2.60 Acres
      0 Charlotte Ave, Elkhart, IN 46517
      View Details
    • Value Estimation by Request
      1.60 Acres

      Vacant Land In-19

      Land • 1.60 Acres
      0 Vacant Land In-19, Elkhart, IN 46517
      View Details
    • Value Estimation by Request
      2.30 Acres

      24 Co Rd

      Land • 2.30 Acres
      24 Co Rd, Elkhart, IN 46517
      View Details

    Similar Nearby for Sale

    • $166,500
      3.30 Acres

      Residential Land in Baugo Township

      3.3-acre residential parcel in Elkhart, Indiana, for custom home.
      County Rd, Elkhart, IN 46517
      View Details
    • $5,000,000

      40 Acres Commercial Land Available

      40 acres of commercial land for sale at SR 19.
      27501 County Road 26, Elkhart, IN 46517
      View Details
    • Contact for pricing
      0.13 Acres

      Elkhart Residential Land Opportunity

      In-city lot with city utilities, ready for new construction.
      Vl Mather Ave, Elkhart, IN 46517
      View Details
    • Contact for pricing

      2.6 Acre Development Opportunity

      2.6 acre outlot on SR 19 in Elkhart, Indiana.
      Charlotte Ave, Elkhart, IN 46517
      View Details
    • Contact for pricing

      78 Acre Development Ready To Go

      78 acre development with divisible lots and prime location.
      26 & Sr 19, Elkhart, IN 46517
      View Details
    • Contact for pricing

      Prime Development Land on SR 19

      2.3 acre commercial outlot with high traffic visibility.
      County Road 24, Elkhart, IN 46517
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      171 Acres Vacant Land Elkhart

      171.20 acres of vacant land for lease in Elkhart, IN.
      Sr 19 & County Rd 26, Elkhart, IN 46517
      View Details
    • Contact for pricing
      6,147 SF

      Elkhart Commercial Space For Lease

      Mixed-use commercial building with retail and office spaces available for lease.
      2930 S Nappanee St, Elkhart, IN 46517
      View Details
    • Contact for pricing
      154,368 SF

      Elkhart Warehouse Space Available

      146,324 SF warehouse space for lease in Elkhart.
      1601 Fieldhouse Ave, Elkhart, IN 46517
      View Details
    • $11 SF/Yr
      3,280 SF

      Elkhart Auto Shop For Rent

      Auto shop with frontage on South Main Street available for rent.
      3526 S Main St, Elkhart, IN 46517
      View Details
    • $5 SF/Yr
      28,125 SF

      Elkhart Warehouse Manufacturing Space

      28,125 SF warehouse with docks and grade doors.
      28680 Holiday Pl, Elkhart, IN 46517
      View Details
    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.
    Mishawaka Rd & Concord Mall Dr
    Elkhart, IN 46517
    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

    Thank You for Inquiry
    Mishawaka Rd & Concord Mall Dr, Elkhart, IN, 46517
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!