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    2008-2028 Lincolnway Goshen, IN 46526
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    Property profile & analytics

    2008-2028 Lincolnway Goshen, IN 46526

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    • Neighborhood centers
    • 65,753 SF
    • 7.16 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 2008-2028 Lincolnway

    Year built
    2003
    Lot size
    7.16 lot acres
    Property size
    65,753 SF
    Property type
    Neighborhood centers
    Property subtype
    Community centers

    Description

    Goshen Commons, located at 2008-2028 Lincolnway East in Goshen, Indiana, presents a compelling retail investment opportunity. This established center, built in 2003, comprises two single-story buildings totaling 65,753 square feet across six suites. The property sits on 7.16 acres of land zoned B-3, offering excellent visibility and accessibility along a high-traffic retail corridor in Elkhart County. Currently, there are multiple suites available, ranging in size from 1,025 to 9,948 square feet, providing flexibility for various retail tenants. The center benefits from strong anchor tenants, including national chains like Jimmy Johns and Dollar General, further solidifying its position within the community. Goshen's strategic location, 10 miles south of Elkhart, 25 miles southeast of South Bend, 120 miles east of Chicago, and 150 miles north of Indianapolis, ensures a robust customer base. The property's APN is 20-11-23-276-018.000-015 and 20-11-23-276-030.000-015. This thriving retail center offers a unique chance to establish or expand your business in a high-demand location. The property's proximity to other retailers makes it a prime shopping destination.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Goshen
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.7939
    Latitude
    41.5615

    Comparable in this City

    • Value Estimation
      $2,785,000
      101,578 SF

      4024 Elkhart Rd

      SHOPPING CENTER, STRIP CENTER • 101,578 SF
      4024 Elkhart Rd, Goshen, IN 46526-5807
      View Details
    • Value Estimation by Request
      14,900 SF

      Lincolnway E

      SHOPPING CENTER, STRIP CENTER • 14,900 SF
      Lincolnway E, Goshen, IN 46526
      View Details
    • Value Estimation by Request
      7,112 SF

      428 Pike Stst-432

      SHOPPING CENTER, STRIP CENTER • 7,112 SF
      428 Pike Stst-432, Goshen, IN 46526-2363
      View Details
    • Value Estimation by Request
      11,020 SF

      1021 Kercher Rd

      SHOPPING CENTER, STRIP CENTER • 11,020 SF
      1021 Kercher Rd, Goshen, IN 46526-5305
      View Details
    • Value Estimation by Request
      3,100 SF

      20102020 Elkhart Rd

      SHOPPING CENTER, STRIP CENTER • 3,100 SF
      20102020 Elkhart Rd, Goshen, IN 46526
      View Details
    • Value Estimation
      $1,250,000
      57,753 SF

      2014 Lincolnway E

      SHOPPING CENTER, STRIP CENTER • 57,753 SF
      2014 Lincolnway E, Goshen, IN 46526-6818
      View Details

    Similar Nearby for Sale

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      Mixed-Use Property on Main Street

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      Elkhart Road Commercial Property

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    • $293,750
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      Goshen Commercial Land - $293,750

      3.63 Acres, High-Traffic Location
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      Downtown Goshen Mixed-Use Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      6,033 SF

      Freestanding Building in High-Traffic Area

      6,033 SF retail building with ample parking and high visibility.
      1919 Lincolnway E, Goshen, IN 46526
      View Details
    • $20 SF/Yr
      1,000 SF

      Goshen Office Space: Main Street Charm

      Historic Office, 1000 sq ft, High Visibility
      202 Main St, Goshen, IN 46526
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    • Contact for pricing
      21,470 SF

      Retail Center Shadow Anchored

      Retail spaces available in a Walmart shadow-anchored center.
      4026 Elkhart Rd, Goshen, IN 46526
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    • Contact for pricing

      Established Retail Center For Rent

      High-traffic retail center with varied tenant mix and excellent visibility.
      510 W Lincoln Ave, Goshen, IN 46526
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    • Contact for pricing
      7,650 SF

      Retail Space Available For Rent

      Retail property with 7,650 square feet available for lease.
      3802-3938 Midway Rd, Goshen, IN 46526
      View Details
    • $7 SF/Yr

      Downtown Goshen Multifunctional Office Space

      Main floor office space for lease in downtown Goshen.
      301 W Lincoln Ave, Goshen, IN 46526
      View Details
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    Goshen, IN 46526
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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.

    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
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    2008-2028 Lincolnway, Goshen, IN, 46526
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