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    FOR SALE
    Office Spaces

    131 E Franklin St, Elkhart, IN 46516

    31,800 SF 0.33 ac lot Built 1865
    Entity Owned 7-yr Hold ~ Est. High Equity
    Property ID
    US31-0150968
    Property summary
    AI-generated overview

    This exceptional 962-square-foot office space is located within the Franklin Station building at 131 E Franklin St, Elkhart, IN 46516, a two-story historical building situated in Elkhart's Central Business District. The unit, fully remodeled, boasts bright windows offering a pleasant view of Centennial Park. The space features attractive 10-foot ceilings and an open floor plan, complemented by one large executive office, ideal for a variety of business needs. This single-tenant space is part of a larger 16,750-square-foot building, classified as Class B and constructed in 1865. The building is zoned for CBD use. The property offers a full gross lease, meaning all utilities—electricity, gas, water, and sewer—are included in the lease price, excluding internet, data, and phone services. The building benefits from a long-term anchor tenant, 1st Source Bank, which has occupied the building for over three decades, providing stability and a strong presence within the community. This presents a unique opportunity to lease a beautifully renovated office space in a historically significant building with a proven track record of occupancy. The property is conveniently located in the heart of Elkhart's vibrant business district.

    Property profile
    Verified
    Property type Office Spaces
    Use group OFFICE (GENERAL)
    Year built 1865
    Construction WOOD
    Total area 31,800 SF
    Lot 0.33 ac (14,549 SF)
    APN 20-06-05-476-018.000-012
    UPID US31-0150968
    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
    • Boys & Girls Club of Elkhart Child Welfare Organization Charitable Organization
    • 1st Source Insurance Insurance Agency
    • Walker Law Office Law Firm
    • Martin Capital Management LLP Financial Advisor
    • 1st Source Bank Bank Loan Service
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.67M
    Blend (final) Blend
    $1.45M
    Owner & transaction history
    Brn Development LLC · 7 yrs held
    Brn Development LLC
    since 2019
    2 recorded transactions
    2019
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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