Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Nappanee St Elkhart, IN 46514
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Nappanee St Elkhart, IN 46514

    View on Map
    • Office properties & Spaces
    • 145,612 SF
    • 20.11 lot acres
    Off-Market
    Property ID
    US31-2621766
    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
    $8,305,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for Nappanee St

    Year built
    1968
    Construction
    TYPE NOT SPECIFIED
    Lot size
    20.11 lot acres
    Property size
    145,612 SF
    Zone code
    ZO01
    Property type
    Office properties & Spaces
    APN
    20-05-01-427-014.000-006
    APU
    200501427014000006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,118,000
      Market price range: $3.40M - $12.0M
      AI Estimate
      $9,488,000
      Market price range: $4.22M - $15.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkhart
    County
    Elkhart
    State
    Indiana
    Longitude
    -86.006
    Latitude
    41.6862
    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
    $1,268
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      7,046 SF

      53715 County Rd 1st 1

      OFFICE (GENERAL) • 7,046 SF
      53715 County Rd 1st 1, Elkhart, IN 46514-9755
      View Details
    • Value Estimation
      $1,240,000
      21,770 SF

      3200 Cassopolis St

      OFFICE (GENERAL) • 21,770 SF
      3200 Cassopolis St, Elkhart, IN 46514-6713
      View Details
    • Value Estimation by Request
      5,500 SF

      30879 Old

      Office Units • 5,500 SF
      30879 Old, Elkhart, IN 46514
      View Details
    • Value Estimation by Request
      4,818 SF

      401 Bristol St

      OFFICE (GENERAL) • 4,818 SF
      401 Bristol St, Elkhart, IN 46514-3019
      View Details
    • Value Estimation
      $590,000
      15,730 SF

      1133 Kilbourn St

      OFFICE (GENERAL) • 15,730 SF
      1133 Kilbourn St, Elkhart, IN 46514-2422
      View Details
    • Value Estimation by Request
      2,652 SF

      29966 Old Us 20

      OFFICE (GENERAL) • 2,652 SF
      29966 Old Us 20, Elkhart, IN 46514-9353
      View Details

    Similar Nearby for Sale

    • $1,350,000
      0.35 Acres

      Elkhart Commercial Parcel For Sale

      High-visibility corner parcel suitable for retail, office, or service uses.
      2800 Cassopolis St, Elkhart, IN 46514
      View Details
    • $225,000
      4,160 SF

      Elkhart Office Building For Sale

      Office building with rental income and owner-occupancy potential.
      2801 E Bristol St, Elkhart, IN 46514
      View Details
    • $575,000
      1.93 Acres

      Elkhart Office/Medical/Dental Opportunity

      Office building for sale in Elkhart, Indiana.
      105 N Nappanee St, Elkhart, IN 46514
      View Details
    • Contact for pricing
      22,100 SF

      Elkhart Industrial Flex Space

      21,362 SF flex building in Park 6 Industrial Park.
      1814 Leer Dr, Elkhart, IN 46514
      View Details
    • Contact for pricing
      13,568 SF

      Elkhart Class A Office Building

      Well-maintained office building with leasing and owner-user opportunities.
      3225 Southview Dr, Elkhart, IN 46514
      View Details
    • New
      $599,900
      0.31 Acres

      Elkhart Downtown Investment Opportunity

      Multi-tenant office and coworking space with income and upside potential.
      223 S Main St, Elkhart, IN 46514
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Elkhart Commercial Space For Lease

      Commercial space available for lease at 1120 N Main St.
      1120 N Main St, Elkhart, IN 46514
      View Details
    • Contact for pricing

      Move-in Ready Professional/Medical Space

      Class A office or medical space available for lease.
      1514 E Bristol St, Elkhart, IN 46514
      View Details
    • Contact for pricing

      Elkhart Plaza West Retail Space

      Neighborhood shopping center with retail, restaurant, and office space.
      1200-1252 N Nappanee St, Elkhart, IN 46514
      View Details
    • Contact for pricing

      Elkhart Office Suites For Lease

      Two adaptable office suites available for lease in Elkhart, Indiana.
      3050 Windsor Ct, Elkhart, IN 46514
      View Details
    • $3,500 /Mo
      85,455 SF

      Creative Space in Elkhart, IN

      Creative space with high ceilings, natural light, and unique features.
      701 Randolph St, Elkhart, IN 46514
      View Details
    • $11 SF/Yr
      1,600 SF

      Professional Office Space Available

      Office space for rent with excellent accessibility and visibility.
      3000-3040 Windsor Ct, Elkhart, IN 46514
      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.
    Nappanee St
    Elkhart, IN 46514
    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.
    Sign Up Successful!
    You now have access to more from Realmo!