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Property profile & analytics
OFF-MARKET
Estimated value
$1,005,000
Strip malls
1001 Pkwy Ave Elkhart, IN 46516-9346
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US31-3198647
Property summary
AI-generated overview
Parkway Plaza, a well-established commercial center located on CR 17 in Elkhart County, offers a turnkey office suite available for lease starting January 1, 2024. This 1,600 square foot space is situated within a larger 30,156 square foot building constructed in 2008 and renovated in 2016. The building boasts a diverse mix of retail, office, and restaurant tenants, ensuring a vibrant and convenient location. The suite itself is ideally suited for a variety of office uses, featuring six private offices, a dedicated conference room, and two comfortable waiting areas. Additional amenities include two restrooms and a storage area. The property benefits from a high-profile location in a thriving development area, easily accessible from Middlebury Street and Parkway Ave. The suite is equipped with a 200 amp 3-phase power supply. This is a rare opportunity to secure a move-in ready office space in a desirable location within a well-maintained and established commercial center. The space is currently configured as an office and is immediately available. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
WOOD
Total area
30,800 SF
Lot
4.84 ac (210,830 SF)
Zoning code
ZO01
APN
20-07-07-101-002.000-039
UPID
US31-3198647
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Edward Jones - Financial Advisor: Deb Hall, AAMS™ Financial Advisor
-
Sports Time Family Pub & Grill Take-out & Catering Catering Service
-
KENNETH SCOTT BETHEL Physician
-
Shepard Swim School School Swimming School
-
Healthy on 17 Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.32M
Blend (final)
Blend
$1.01M
Owner & transaction history
Goshen Parkway 1 LLC · 5 yrs held
Goshen Parkway 1 LLC
since 2021
1 recorded transaction
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.7M
+65.4%
Apartment house (5+ units)
$1.5M
+48.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,010,000
Current use
MEDICAL BUILDING
$1,670,000
Change: +65% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,500,000
Change: +49% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $905k – $1.11M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$33 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$94,796
Tax year 2023
Assessed value
$3,140,300
Assessed 2023
Previous assessed
$3,140,300
+0.0% YoY
Effective rate
3.02%
On assessed value
Assessed land
$1,331,000
Assessed improvement
$1,809,300
Land market value
$1,331,000
Improvement market value
$1,809,300
Total market value
$3,140,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2005
Construction
WOOD
Stories
1
Total area
30,800 SF
Lot
4.84 ac (210,830 SF)
Zoning code
ZO01
APN
20-07-07-101-002.000-039
UPID
US31-3198647
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, IN
Zoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkhart. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
WOOD
Stories
1
Lot
4.84 ac
Current owner
From public records · entity-resolved
Goshen Parkway 1 LLC
Entity
Mailing address
PO BOX 1687, BELLFLOWER, CA 90707-1687
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2021
—
Goshen Parkway 1 LLC
—
Deed
related
$2,950,000 · Farm Bureau Life Insurance Company Of Mi
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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