Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3365 S Main St Elkhart, IN 46517
    Back to Search
    Property profile & analytics

    3365 S Main St, Elkhart, IN 46517

    View on Map
    • Retail space
    • 3,482 SF
    • 1.14 lot acres
    For Sale
    $1,295,000
    View Listing →
    Elkhart Retail Space For Sale For Sale
    $1,295,000
    3,482 SF

    Elkhart Retail Space For Sale

    Retail space with high visibility on Main Street and US 20.

    3365 S Main St, Elkhart, IN 46517
    View Listing
    Property ID
    US31-2733236
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Verizon / Mobile Phone Store / Electronics & Wireless Store
    • Verizon Business Services / Business To Business Service

    Property Details for 3365 S Main St

    Year built
    1996
    Construction
    WOOD
    Lot size
    1.14 lot acres
    Property size
    3,482 SF
    Zone code
    ZO01
    Property type
    Retail space
    APN
    20-06-22-126-034.000-011
    APU
    200622126034000011

    Description

    This exceptional 3,482 square foot storefront, located at 3365 S Main St, Elkhart, IN 46517, presents a lucrative investment opportunity. The property, built in 1996 and situated on a 1.18-acre lot, is currently occupied by Verizon Wireless under a triple net (NNN) lease, requiring no expenses from the owner. Verizon has been a tenant since 1997, operating a cellular training center and retail store. The location boasts exceptional visibility on Main Street (US 33), with convenient access from Shaffer Avenue. High traffic counts are guaranteed, with 12,627 vehicles daily north of the bypass, 13,505 south, and 20,562 on the US 20 Bypass. The property benefits from a large parking area and municipal utilities. The strong demographics further enhance its appeal: within a three-mile radius, the 2021 population census recorded 44,071 residents

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -85.9395
    Latitude
    41.6495
    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
    $11,460
    $179,500
    $199,100
    $378,600
    -
    $179,500
    $199,100
    $378,600

    Comparable in this City

    • Value Estimation by Request
      1,440 SF

      28080 County Rd 20

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      28080 County Rd 20, Elkhart, IN 46517-1130
      View Details
    • Value Estimation by Request
      1,504 SF

      3801 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,504 SF
      3801 Main St, Elkhart, IN 46517-3510
      View Details
    • Value Estimation
      $600,000
      4,518 SF

      4622 Elkhart Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,518 SF
      4622 Elkhart Rd, Elkhart, IN 46517-3555
      View Details
    • Value Estimation by Request
      5,404 SF

      3519 Main St

      RETAIL STORES (PERSONAL SERVICES) • 5,404 SF
      3519 Main St, Elkhart, IN 46517
      View Details
    • Value Estimation
      $2,590,000
      99,448 SF

      3501 Main St

      RETAIL STORES (PERSONAL SERVICES) • 99,448 SF
      3501 Main St, Elkhart, IN 46517-3123
      View Details
    • Value Estimation by Request
      2,449 SF

      2701 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,449 SF
      2701 Main St, Elkhart, IN 46517-2615
      View Details

    Similar Nearby for Sale

    • $1,295,000
      3,482 SF

      Elkhart Retail Space For Sale

      Retail space with high visibility on Main Street and US 20.
      3365 S Main St, Elkhart, IN 46517
      View Details
    • Contact for pricing
      3,187 SF

      Elkhart Redevelopment Site Available

      Redevelopment site at signalized corner in Elkhart, Indiana.
      290 W Hively Ave, Elkhart, IN 46517
      View Details
    • $329,000
      0.55 Acres

      Elkhart Retail Opportunity on Main

      Retail building on Main Street with high traffic counts.
      3444 S Main Blvd, Elkhart, IN 46517
      View Details
    • Contact for pricing
      5,660 SF

      Elkhart Industrial Property For Sale

      Three-building industrial property suitable for automotive use in Elkhart, IN.
      57909 In-19, Elkhart, IN 46517
      View Details
    • Contact for pricing
      6,872 SF

      Free Standing Restaurant Opportunity

      6,872 SF restaurant on high traffic corridor for sale.
      3535 S Main St, Elkhart, IN 46517
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,147 SF

      Elkhart Commercial Space For Lease

      Mixed-use commercial building with retail and office spaces available for lease.
      2930 S Nappanee St, Elkhart, IN 46517
      View Details
    • $11 SF/Yr
      3,280 SF

      Elkhart Auto Shop For Rent

      Auto shop with frontage on South Main Street available for rent.
      3526 S Main St, Elkhart, IN 46517
      View Details
    • Contact for pricing

      171 Acres Vacant Land Elkhart

      171.20 acres of vacant land for lease in Elkhart, IN.
      Sr 19 & County Rd 26, Elkhart, IN 46517
      View Details
    • $5 SF/Yr
      28,125 SF

      Elkhart Warehouse Manufacturing Space

      28,125 SF warehouse with docks and grade doors.
      28680 Holiday Pl, Elkhart, IN 46517
      View Details
    • Contact for pricing
      154,368 SF

      Elkhart Warehouse Space Available

      146,324 SF warehouse space for lease in Elkhart.
      1601 Fieldhouse Ave, Elkhart, IN 46517
      View Details
    View Listing
    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.
    3365 S Main St
    Elkhart, IN 46517
    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

    Thank You for Inquiry
    3365 S Main St, Elkhart, IN, 46517
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!