Property profile

121 Main St Elkhart, IN 46516

FOR SALE
Residential income homes
Property ID
US31-1250745
11,796 SF 0.09 ac lot Built 1888
Entity Owned 19-yr Hold ~ Est. High Equity
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For Sale
$795,000 11,796 SF
121 Main St, Elkhart, IN 46516
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Property summary

AI-generated overview

This exceptional commercial property, located at 121-123 S Main St in Elkhart, Indiana, offers a unique opportunity for retail or office use. The property consists of two buildings, totaling 24,972 square feet, situated on a 0.182-acre lot. Built in 1888 and renovated in 2003, the three-story Class C building boasts high ceilings and attractive architectural details. The space is currently divisible into units ranging from 4,127 to 8,254 contiguous square feet, with the owner open to considering smaller divisions for suitable tenants. Previously utilized as a call center, the layout features over 60 potential cubicle spaces, but its open design lends itself well to retail adaptation, complete with two street-level storefronts. Additional features include two loft spaces, a balcony, a kitchenette, and multiple restrooms. The property is zoned CBD and benefits from its central location within Elkhart's revitalized downtown area, surrounded by other significant investments. While there is no on-site parking, the property's prime location offers easy access to public transportation and ample nearby parking options. Annual property taxes are $0.57 per square foot. The property is served by single-phase power. The APN is 20-06-05-406-026.000-012, 20-06-05-406-025.000-012, and the county is Elkhart County.

Property profile

Verified
Property type Residential income homes
Use group APARTMENT HOUSE (UNDER 5 UNITS)
Year built 1888
Construction WOOD
Total area 11,796 SF
Lot 0.09 ac (3,964 SF)
Zoning code ZO01
APN 20-06-05-406-025.000-012
UPID US31-1250745

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

121 Main St Elkhart, IN 46516
Elkhart metro Census 2900 ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$300k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$300k

Owner & transaction history

since 2006
4 recorded transactions
2013
Price N/A
2006
Price N/A
2004
Price N/A
1969
Price N/A

Zoning & alternative use

ZO01 · Elkhart, IN

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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