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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Strip malls
1104 Bristol St, Elkhart, IN 46514-2114
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-0689296
Property summary
AI-generated overview
This fee-simple retail investment property, known as Shops on Bristol, presents a compelling value-add opportunity in Elkhart, Indiana. Located at 1104 W Bristol St, Elkhart, IN 46514, this shopping center encompasses 71,236 square feet across two single-story buildings situated on a 3.8-acre lot. Built in 1967 and extensively renovated in 2024, the property features 15 units currently at 28% occupancy. Recent improvements include a new roof, upgraded parking lot, enhanced lighting, and modernized pylon signage. All tenants are on month-to-month leases, allowing for immediate lease-up and potential for increased rental income. The asking price is $2,750,000, translating to $38.60 per square foot. This unanchored neighborhood center offers significant potential for an investor seeking to capitalize on the improving market conditions and the recent property enhancements. The property's location in Elkhart, approximately 30 minutes east of South Bend, Indiana, provides convenient access to a substantial consumer base.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1967
Construction
TYPE NOT SPECIFIED
Total area
25,200 SF
Lot
3.8 ac (165,528 SF)
Zoning code
ZO01
APN
20-02-31-253-023.000-027
UPID
US31-0689296
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
-
Beacon Occupational Health Bristol Street Physician
-
Dr. Christine M. Cisneros Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$697k
Blend (final)
Blend
$585k
Owner & transaction history
1104 Bristol LLC · 3 yrs held
1104 Bristol LLC
since 2023
2 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$23 / 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
$21,104
Tax year 2023
Assessed value
$1,412,300
Assessed 2023
Previous assessed
$1,412,300
+0.0% YoY
Effective rate
1.49%
On assessed value
Assessed land
$266,000
Assessed improvement
$1,146,300
Land market value
$266,000
Improvement market value
$1,146,300
Total market value
$1,412,300
Applied tax rate
27.0000
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
1967
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
2
Stories
2
Total area
25,200 SF
Lot
3.8 ac (165,528 SF)
Zoning code
ZO01
APN
20-02-31-253-023.000-027
UPID
US31-0689296
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.
Building & site characteristics
From public records
Year built
1967
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Buildings
2
Lot
3.8 ac
Current owner
From public records · entity-resolved
1104 Bristol LLC
Entity
Free & Clear · 3 yrs held
Mailing address
10 STERLING BLVD STE #302, ENGLEWOOD, NJ 07631-4835
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2023
—
1104 Bristol LLC
Indiana Tax Auction LLC
Warranty Deed
—
Nov 17, 2022
$675,000
Indiana Tax Auction LLC
Johnson Parkmor Shopping Center LLC
Public Action
related
—
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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