107 Northpointe BlvdElkhart, IN 46514

Property Details for 107 Northpointe Blvd

Year built

1995

Construction

TYPE NOT SPECIFIED

Lot size

0.89 AC

Property size (Sq ft)

5,264 SF

Zone code

ZO01

Property type

Retail properties

Property subtype

Turn key restaurants

APN

20-02-20-251-035.000-027

APU

200220251035000027

Description

This exceptional investment opportunity presents the chance to acquire two established Perkins Restaurant locations in Elkhart, Indiana. The combined asking price for both properties is $1,895,000. The Elkhart location, situated at 107 Northpointe Blvd, Elkhart, IN 46514, includes the real estate in the sale. This 5,264 square foot storefront sits on a 0.89-acre lot (APN: 20-02-20-251-035.000-027) and boasts a prime location on Cassopolis St/SR 19, directly off the I-80/90 exit. The property, built in 1995, benefits from a high-density hotel area surrounding it, ensuring consistent customer traffic. The sale includes the franchise, goodwill, furnishings, fixtures, and equipment. The business generates gross revenue exceeding $1.1 million annually. Importantly, local management will remain in place post-sale, providing continuity and operational expertise. The property is zoned for commercial use. This is a turnkey opportunity to own a profitable, established restaurant business with significant growth potential. The South Bend location must be purchased concurrently with the Elkhart location to complete the acquisition. This is a rare chance to own a well-established, high-performing restaurant franchise in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,455,386

  6.5%

  $1,343,433

  7%

  $1,247,474

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,727,803

  Geo Method

  $1,727,803

• Alternative Use

  Use

  Valuation

  Residential

  $1,133,236

  Hospitality

  $1,038,038

  Educational

  $863,636

  Medical

  $893,337

  Retail

  $1,343,433

Location Insight

City

Elkhart

County

Elkhart

State

Indiana

Latitude

41.7343

Longitude

-85.9747

CBSA code

21140

CBSA name

ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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