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    OFF-MARKET
    Residential income homes

    121 Main St, Elkhart, IN 46516-3123

    11,796 SF 0.09 ac lot Built 1888
    Entity Owned 19-yr Hold ~ Est. High Equity
    Property ID
    US31-1250745
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Hilltop Co LLC · 19 yrs held
    Hilltop Co LLC
    since 2006
    4 recorded transactions
    2013
    2006
    2004
    1969
    Zoning & alternative use
    ZO01 · Elkhart, IN
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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