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Property profile & analytics
FOR LEASE
Strip malls
205 County Road 6, Elkhart, IN 46514
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US31-0652923
For Lease
1 / 2
$2,350,000
205 County Road 6, Elkhart, IN 46514
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2014
Construction
TYPE NOT SPECIFIED
Total area
78,006 SF
Lot
8.1 ac (352,792 SF)
Zoning code
ZO01
APN
20-02-29-126-003.000-027
UPID
US31-0652923
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
-
rue21 Fashion Accessories Store Men'S Clothing Store
-
Five Below (Bike/Boat/Book/etc) Store Arcade & Gaming Center
-
Eyemart Express Ophthalmologist (Bike/Boat/Book/etc) Store
-
TagWorks (Bike/Boat/Book/etc) Store Pet Store & Service
-
PetSmart (Bike/Boat/Book/etc) Store Pet Store & Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.35M
Owner & transaction history
Elkhart Holdings LLC · 8 yrs held
Elkhart Holdings LLC
since 2018
2 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.8M
+20.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,165,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,805,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$2.35M
Range $2.12M – $2.59M · ±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
$30 / 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
$240,154
Tax year 2023
Assessed value
$7,900,200
Assessed 2023
Previous assessed
$7,900,200
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$2,279,500
Assessed improvement
$5,620,700
Land market value
$2,279,500
Improvement market value
$5,620,700
Total market value
$7,900,200
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
For Lease
Year built
2014
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Bathrooms
2
Total area
78,006 SF
Lot
8.1 ac (352,792 SF)
Zoning code
ZO01
APN
20-02-29-126-003.000-027
UPID
US31-0652923
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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2014
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Bathrooms
2
Lot
8.1 ac
Current owner
From public records · entity-resolved
Elkhart Holdings LLC
Entity
Mailing address
1975 HEMPSTEAD TPKE STE #309, EAST MEADOW, NY 11554-1703
Ownership since
2018
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
Nov 14, 2024
—
Elkhart Holdings LLC
—
Deed
related
$15,500,000 · Fifth Third Bank NA
Mar 28, 2018
—
Elkhart Holdings LLC
Cassopolis Street Elkhart LLC
Special Warranty Deed
$13,000,000 · Wells Fargo Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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