230 Main StElkhart, IN 46516

Property Details for 230 Main St

Year built

2004

Construction

TYPE NOT SPECIFIED

Lot size

0.23 AC

Property size (Sq ft)

8,000 SF

Zone code

ZO01

Property type

Office properties

APN

20-06-05-258-001.000-012

APU

200605258001000012

Description

This exceptional 1,417-square-foot executive office suite presents a unique opportunity in the vibrant city of Elkhart, Indiana. Located at 230 N Main St, 46516, this single-tenant property boasts a prime location within Elkhart County. Built in 2004, the building is well-maintained and features modern amenities, including a convenient elevator. The entire space (1,417 sq ft) is currently vacant and ready for immediate occupancy, offering flexibility for a variety of business needs. Its strategic location places businesses within easy reach of Elkhart's thriving downtown area, currently undergoing significant revitalization efforts, including the development of a new aquatic and fitness center. This investment presents a chance to establish a presence in a dynamic community experiencing substantial growth and positive change. The property's single-tenant occupancy simplifies management and provides a clear, straightforward investment opportunity. The property type is classified as an office building, specifically an executive office suite, ideal for businesses seeking a professional and modern workspace. This is an excellent opportunity to secure a well-located, move-in ready office space in a growing Indiana city.

• CAP approach

  CAP return

  Valuation

  6%

  $1,504,648

  6.5%

  $1,388,906

  7%

  $1,289,698

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,042,000

  Geo Method

  $1,042,000

• Alternative Use

  Use

  Valuation

  Residential

  $1,722,243

  Hospitality

  $1,577,566

  Educational

  $1,312,516

  Medical

  $1,357,656

  Retail

  $2,041,692

Location Insight

City

Elkhart

County

Elkhart

State

Indiana

Latitude

41.6894

Longitude

-85.9742

CBSA code

21140

CBSA name

ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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