Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2815 County Home Rd Elkhart, IN

    • Strip malls
    • 32,832 SF
    • 3.66 lot acres
    OFF-MARKET
    Value Estimations
    $855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0568276
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Isalis / Gift Shop / Boutique
    • Party City / Party Store / Balloon Store
    • Skunk Funk / Wholesaler / Clothing Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 2815 County Home Rd

    Year built
    2009
    Construction
    WOOD
    Lot size
    3.66 lot acres
    Property size
    32,832 SF
    Zone code
    ZO01
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    20-06-25-303-003.000-013
    APU
    200625303003000013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $855,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,075,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.9059
    Latitude
    41.624
    CBSA code
    21140
    CBSA name
    ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $82,966
    $942,700
    $1,805,600
    $2,748,300
    -
    $942,700
    $1,805,600
    $2,748,300

    Comparable in this City

    • Value Estimation
      $1,035,000
      58,365 SF

      3818 Midway Rd

      SHOPPING CENTER, STRIP CENTER • 58,365 SF
      3818 Midway Rd, Elkhart, IN
      View Details
    • Value Estimation by Request
      0.12 Acres

      5004-5010 Broadway

      Retail properties • 0.12 Acres
      5004-5010 Broadway, Gary, IN
      View Details
    • Value Estimation
      $310,000
      5,400 SF

      1320 Indianapolis Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,400 SF
      1320 Indianapolis Blvd, Hammond, IN
      View Details
    • Value Estimation
      $260,000
      0.29 Acres

      Manning Ave 211th S

      PARKING LOT • 0.29 Acres
      Manning Ave 211th S, Manning Ave, IN
      View Details
    • Value Estimation
      $335,000
      1,595 SF

      Milton St 3303rd N

      RETAIL STORES (PERSONAL SERVICES) • 1,595 SF
      Milton St 3303rd N, Milton St, IN
      View Details
    • Value Estimation by Request
      0.69 Acres

      1302 Lincoln Hwy

      Retail properties • 0.69 Acres
      1302 Lincoln Hwy, Schererville, IN
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Turnkey Restaurant Portfolio Opportunity

      Two Salsarita’s Fresh Mexican Grill restaurant locations for sale.
      2 Restaurant Portfolio, Evansville, IN
      View Details
    • $600,000

      Highway 62 Commercial Lot

      Commercial lot with highway access and Kroger connectivity.
      3511 Tract A2, Jeffersonville, IN
      View Details
    • $150,000
      6,505 SF

      Mixed-Use Property with Income Potential

      Bar, ice cream parlor, and apartments in Butler, Indiana.
      230-232 S Bdwy St, Butler, IN
      View Details
    • $1,840,000
      684 SF

      Scooter’s Coffee NNN Investment Opportunity

      Absolute NNN lease with corporate guaranty and rental increases.
      621 E St N, Kendallville, IN
      View Details
    • $3,100,000
      5,915 SF

      New Wawa Ground Lease

      New 20-year ground lease with options to extend.
      8770 S 1000 Rd W, Daleville, IN
      View Details
    • $900,000
      16,046 SF

      Versatile Building on US-30

      Adaptable building suitable for office, retail, and flex-type uses.
      2691 Us-30, Warsaw, IN
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      2,276 SF

      Retail and Office Strip Center

      Multi-tenant strip center ideal for retail and office users.
      Broadway 7950-7990, Merrillville, IN
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space in Shelbyville, IN

      Retail spaces available in a busy shopping center.
      1800-1826 In-44, Shelbyville, IN
      View Details
    • $12 SF/Yr
      4,480 SF

      Retail Space in Porte De'Leau

      Retail spaces available in Highland, IN, near major highways.
      9722 Prkwy Dr 45 St, Highland, IN
      View Details
    • $14 SF/Yr
      1,000 SF

      Retail Space Near Bethel College

      Retail space in high-traffic area near major retailers.
      717 921 West McKinley, Mishawaka, IN
      View Details
    • $7 SF/Yr
      4,062 SF

      Retail Space on High-Traffic Corridor

      Retail spaces with ample parking and signage on State Hwy.
      50630-50698 State Hwy, South Bend, IN
      View Details
    • $16 SF/Yr
      1,200 SF

      Highland Retail Space For Lease

      Retail spaces available in Highland, Indiana, ranging from 1200-4800 SF.
      2124-2126 45 St, Highland, IN
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2815 County Home Rd
    Elkhart, IN
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.