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1631-1633 Toledo Rd
Elkhart, IN 46516
Retail Property For Sale
Investment Highlights
- Two-parcel property totaling approximately 0.77 acres with 46 storage units and one retail space.
- High daily traffic counts of 9,300 vehicles along Toledo Road.
- Retail tenant lease extends through most of 2026, providing stable income.
- Potential monthly storage income of $4,219 at full occupancy.
Executive Summary
This self-storage and retail property offers a compelling investment opportunity in the growing Elkhart market. The facility spans two parcels totaling approximately 0.77 acres and includes 46 storage units with varying sizes, plus one occupied retail space. With a current storage occupancy rate of 30%, the property provides significant upside potential for an investor focused on stabilization and income growth.
The site features over 5,000 square feet of rentable space, ample parking, and a retail tenant secured through most of 2026, ensuring a steady income stream. Positioned along Toledo Road, the property benefits from high visibility and strong traffic counts of approximately 9,300 vehicles per day. The surrounding area boasts a dense population of nearly 100,000 residents within a five-mile radius, creating consistent demand for storage and retail services.
Recent upgrades include newly installed security cameras and an updated entry gate, enhancing operational security and tenant confidence. With a sale price of $499,999, this asset offers an attractive entry point for investors seeking a value-add opportunity in a well-located, income-producing property.
The site features over 5,000 square feet of rentable space, ample parking, and a retail tenant secured through most of 2026, ensuring a steady income stream. Positioned along Toledo Road, the property benefits from high visibility and strong traffic counts of approximately 9,300 vehicles per day. The surrounding area boasts a dense population of nearly 100,000 residents within a five-mile radius, creating consistent demand for storage and retail services.
Recent upgrades include newly installed security cameras and an updated entry gate, enhancing operational security and tenant confidence. With a sale price of $499,999, this asset offers an attractive entry point for investors seeking a value-add opportunity in a well-located, income-producing property.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
6,600 SF
Building Class
C
Year Built
1946
Price
$499,999
Price Per SF
$75.76
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
0.71 AC
Parking
10 Spaces (7.69 Spaces per 1,000 SF Leased)
Frontage
155’ on Toledo Rd
Amenities
- Dedicated Turn Lane
Property Taxes
| Parcel Numbers | Improvements Assessment | $334,900 | |
| Land Assessment | $50,100 | Total Assessment | $385,000 |
Property Taxes
Parcel Numbers
Land Assessment
$50,100
Improvements Assessment
$334,900
Total Assessment
$385,000
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