700 Beardsley AveElkhart, IN 46514

Property Details for 700 Beardsley Ave

Year built

1974

Construction

TYPE NOT SPECIFIED

Lot size

2.08 AC

Property size (Sq ft)

30,000 SF

Zone code

ZO01

Property type

Office properties

APN

20-06-05-229-022.000-012

APU

200605229022000012

Description

This exceptional Elkhart, Indiana office property at 700 E. Beardsley Avenue offers 30,000 total square feet in a two-story, 1974-built building situated on a 1.83-acre lot. Currently, a total of 8,980 square feet is available for lease, divisible into two suites: one 4,870 square feet and another 4,110 square feet. Leasing options include the entire second floor (8,980 square feet) or individual suites. All office spaces boast window views overlooking a river and park. Ample parking is available on-site to accommodate tenants and their clients. A new vertical platform lift, scheduled for completion by Fall 2024, will enhance accessibility to the second floor. The property is zoned B2 and enjoys a highly desirable location within walking and driving distance of the new Beacon Health Center, the River Walk District, residential condos and apartments, and a new grocery store. The lease rate is $10.50 per square foot, plus a CAM fee of $4.50, which includes all utilities, for a total of $15 per square foot. The minimum leasable space is 4,600 square feet, with a maximum contiguous space of 8,980 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $5,642,430

  6.5%

  $5,208,397

  7%

  $4,836,368

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,907,500

  Geo Method

  $3,907,500

• Alternative Use

  Use

  Valuation

  Residential

  $6,458,412

  Hospitality

  $5,915,871

  Educational

  $4,921,935

  Medical

  $5,091,208

  Retail

  $7,656,344

Location Insight

City

Elkhart

County

Elkhart

State

Indiana

Latitude

41.6939

Longitude

-85.9676

CBSA code

21140

CBSA name

ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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