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Property profile & analytics
FOR SALE
Parking lots & garages

2501 W Lexington Ave Elkhart, IN 46514

2,880 SF 0.52 ac lot Built 1973
Individually Owned 7-yr Hold Free & Clear
Property ID
US31-1302182
Property summary
AI-generated overview

This 2,880 square foot industrial building, situated on a 2.22-acre lot in Elkhart, Indiana, presents a compelling investment opportunity. Previously used as an automotive shop, the property offers versatile space suitable for various uses, including automotive service and sales, small-scale fabrication, or transportation-related businesses. The building boasts over one acre of secured storage space behind it, providing ample room for inventory or equipment. Its location on the west side of Elkhart offers convenient access to major transportation arteries, including US 20 Bypass and the Indiana Toll Road (I-80/90) via State Road 19. This central location provides easy access to both Elkhart and Mishawaka. A unique feature is deeded river access, presenting potential for a boat slip. Furthermore, the property has a history of generating $5,000 to $10,000 annual income as a potential U-Haul franchisee, adding to its investment appeal. The property is located at 2501 W Lexington Ave, Elkhart, IN 46514. This is a single-building property with a listed asking price of $349,000.

Property profile
Verified
Property type Parking lots & garages
Use group PARKING GARAGE, PARKING STRUCTURE
Year built 1973
Construction WOOD
Total area 2,880 SF
Lot 0.52 ac (22,477 SF)
APN 20-05-01-403-003.000-006
UPID US31-1302182
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
  • U-Haul Neighborhood Dealer Car Rental Facility
  • OFY Performance Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
R W Hoffer JR. · 7 yrs held
R W Hoffer JR.
since 2019
2 recorded transactions
2019
Price N/A
2006
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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