121 Main St Elkhart, IN 46516-3123
- Residential income homes
- 11,796 SF
- 0.09 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 121 Main St
- Year built
- 1888
- Construction
- WOOD
- Lot size
- 0.09 lot acres
- Property size
- 11,796 SF
- Zone code
- ZO01
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 20-06-05-406-025.000-012
- APU
- 200605406025000012
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $300,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $410,000
- 6.5%
- $410,000
- 7%
- $380,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $400,000
- Geo Method
- $385,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $420,000
- Retail
- $325,000
- Mixed-Use
- $370,000
- Hospitality
- $335,000
- Educational
- $365,000
- Residential Income
- $380,000
- Energy
- $390,000
- Income-Based Land
- $350,000
- Food Service
- $370,000
Location Insight
- Map
- Local Demand
- City
- Elkhart
- County
- Elkhart
- State
- Indiana
- Longitude
- -85.9736
- Latitude
- 41.6866
- CBSA code
- 21140
- CBSA name
- ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA