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    72104 Co Rd New Paris, IN 46553
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    72104 Co Rd, New Paris, IN 46553

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    • Industrial properties
    • 196,020 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 72104 Co Rd

    Year built
    1963
    Property type
    Industrial properties
    Property subtype
    Manufacturing properties

    Description

    This exceptional 196,020-square-foot manufacturing facility is situated on a 4.5-acre lot in New Paris, Indiana, offering a prime location with excellent access to US 6 and State Road 15. Built in 1963, the property boasts a spacious layout with high ceilings ranging from 16 to 20 feet, providing ample room for various manufacturing operations. The building features eight loading docks and six dock-high doors, ensuring efficient loading and unloading of goods. The entire 196,020 square feet is currently vacant, presenting a unique opportunity for a single tenant or multiple tenants to occupy this substantial space. The property is zoned M1 & M2, allowing for a wide range of manufacturing uses. Its convenient location and substantial size make it an ideal choice for businesses seeking a large-scale manufacturing operation in a strategic location within Elkhart County. The property's APN is 20-15-33-100-010.000-018. The address is 72104 County Road 23, New Paris, IN 46553. This property offers significant potential for growth and expansion within a thriving industrial area. The property's location provides excellent visibility and accessibility, making it an attractive option for businesses seeking a strong presence in the region. The ample space and loading capabilities make it suitable for a variety of manufacturing needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Paris
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.8405
    Latitude
    41.4477

    Comparable in this City

    • Value Estimation by Request
      10,080 SF

      19828 Us-6

      Distribution properties
      19828 Us-6, New Paris, IN 46553
      View Details
    • Value Estimation
      $2,520,000
      51,743 SF

      County Rd 23

      MANUFACTURING (LIGHT)
      County Rd 23, New Paris, IN 46553
      View Details
    • Value Estimation by Request
      3,680 SF

      72104 County Rd 23

      MANUFACTURING (LIGHT)
      72104 County Rd 23, New Paris, IN 46553-9142
      View Details
    • Value Estimation by Request
      20,782 SF

      71913 County Rd 23

      MANUFACTURING (LIGHT)
      71913 County Rd 23, New Paris, IN 46553-9770
      View Details
    • Value Estimation by Request
      12,484 SF

      19453 Industrial Dr

      MANUFACTURING (LIGHT)
      19453 Industrial Dr, New Paris, IN 46553-9714
      View Details
    • Value Estimation
      $6,595,000
      173,229 SF

      68143 Clunette St

      MANUFACTURING (LIGHT)
      68143 Clunette St, New Paris, IN 46553-3700
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      168,390 SF

      Industrial Property with Transport Lot

      Industrial property featuring docks, doors, and transport lot.
      72104 County Road 23, New Paris, IN 46553
      View Details
    • Contact for pricing
      9,865 SF

      New Paris Industrial Flex Space

      9,865 SF industrial building with flexible layout for lease.
      19828 Us Highway 6, New Paris, IN 46553
      View Details
    • Contact for pricing

      New Paris Commercial Property

      Commercial property in New Paris, Indiana with frontage.
      72104 County Road 23, New Paris, IN 46553
      View Details
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    New Paris, IN 46553
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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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