3365 Main StElkhart, IN 46517

Property Details for 3365 Main St

Year built

1996

Construction

WOOD

Lot size

1.14 AC

Property size (Sq ft)

3,482 SF

Zone code

ZO01

Property type

Retail properties

Property subtype

Retail space

APN

20-06-22-126-034.000-011

APU

200622126034000011

Description

This exceptional 3,482 square foot storefront, located at 3365 S Main St, Elkhart, IN 46517, presents a lucrative investment opportunity. The property, built in 1996 and situated on a 1.18-acre lot, is currently occupied by Verizon Wireless under a triple net (NNN) lease, requiring no expenses from the owner. Verizon has been a tenant since 1997, operating a cellular training center and retail store. The location boasts exceptional visibility on Main Street (US 33), with convenient access from Shaffer Avenue. High traffic counts are guaranteed, with 12,627 vehicles daily north of the bypass, 13,505 south, and 20,562 on the US 20 Bypass. The property benefits from a large parking area and municipal utilities. The strong demographics further enhance its appeal: within a three-mile radius, the 2021 population census recorded 44,071 residents

• CAP approach

  CAP return

  Valuation

  6%

  $962,700

  6.5%

  $888,646

  7%

  $825,172

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,142,897

  Geo Method

  $1,142,897

• Alternative Use

  Use

  Valuation

  Residential

  $749,606

  Hospitality

  $686,635

  Educational

  $571,273

  Medical

  $590,920

  Retail

  $888,646

Location Insight

City

Elkhart

County

Elkhart

State

Indiana

Latitude

41.6495

Longitude

-85.9395

CBSA code

21140

CBSA name

ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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