1115 Parkway AveElkhart, IN 46516

Property Details for 1115 Parkway Ave

Year built

2021

Construction

WOOD

Property size (Sq ft)

10,400 SF

Property type

Office properties

APN

20-07-07-151-016.000-039

APU

200707151016000039

Description

This exceptional 20,000 square foot commercial property, situated on a 3.6-acre lot at 1115 Parkway Avenue in Elkhart, Indiana, presents a unique investment opportunity. The property features a turnkey shell space ideal for various professional office or medical uses, allowing for customized build-outs to meet specific needs. The building boasts a modern brick and brick EFIS exterior, complemented by steel soffit and fascia. All units include finished bathrooms, break rooms, and a dedicated mechanical room. Utilities are provided by city water and sewer, AEP electric, and NIPSCO gas. A convenient commercial canopy ensures easy patient or customer drop-off. The property benefits from a highly desirable location, easily accessible via US 20 Bypass, State Road 120, and I-80/90 (minutes from exit 96), placing it in the heart of Elkhart County's thriving commercial corridor. Surrounding businesses include Goshen Medical, Sports Time Restaurant, multiple title companies, law offices, real estate agencies, and a mortgage company, ensuring high visibility and foot traffic. Extensive landscaping and signage enhance the property's curb appeal. The property is offered at $2,640,000 and is divisible into 5,000 or 10,000 square foot increments. Seller financing options are available

• CAP approach

  CAP return

  Valuation

  6%

  $1,956,042

  6.5%

  $1,805,578

  7%

  $1,676,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,354,600

  Geo Method

  $1,354,600

• Alternative Use

  Use

  Valuation

  Residential

  $2,238,916

  Hospitality

  $2,050,835

  Educational

  $1,706,271

  Medical

  $1,764,952

  Retail

  $2,654,199

Location Insight

City

Elkhart

County

Elkhart

State

Indiana

Latitude

41.6771

Longitude

-85.8869

CBSA code

21140

CBSA name

ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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