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219 S 3rd St
Elkhart, IN 46516
Office Property For Sale
Investment Highlights
- 4,800 SF Professional Office Building in the Central Business District
Executive Summary
**LEASE IN PLACE ON 1ST FLOOR THROUGH NOVEMBER 2027. - $10.10/SF NNN**
The 4,800 SF professional office building offers functional space and excellent layout for a variety of business users. Originally built in 1959, this property is fully air-conditioned and designed to support multiple tenants. There is a large lobby and the interior features 9-foot ceilings throughout, enhancing the sense of space and openness while providing abundant natural light. The floor plan includes two dedicated conference rooms as well as 12 private professional offices. The building also includes a large bullpen area, ample storage, and built-in file cabinets to support organization and workflow. There are four restrooms conveniently placed to serve staff and visitors. Situated in the heart of Elkhart’s Central Business District, this professional office building enjoys a prime location adjacent to restaurants, government offices, and a variety of retail and professional businesses. Tenants benefit from the convenience of being proximal to County and City buildings, making daily operations seamless. The surrounding area provides a vibrant business environment with ample amenities for employees and visitors alike, combining convenience, connectivity, and a professional atmosphere in one central location.
The 4,800 SF professional office building offers functional space and excellent layout for a variety of business users. Originally built in 1959, this property is fully air-conditioned and designed to support multiple tenants. There is a large lobby and the interior features 9-foot ceilings throughout, enhancing the sense of space and openness while providing abundant natural light. The floor plan includes two dedicated conference rooms as well as 12 private professional offices. The building also includes a large bullpen area, ample storage, and built-in file cabinets to support organization and workflow. There are four restrooms conveniently placed to serve staff and visitors. Situated in the heart of Elkhart’s Central Business District, this professional office building enjoys a prime location adjacent to restaurants, government offices, and a variety of retail and professional businesses. Tenants benefit from the convenience of being proximal to County and City buildings, making daily operations seamless. The surrounding area provides a vibrant business environment with ample amenities for employees and visitors alike, combining convenience, connectivity, and a professional atmosphere in one central location.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
4,800 SF
Building Class
B
Year Built
1959
Price
$350,000
Price Per SF
$72.92
Cap Rate
6.93%
NOI
$24,240
Percent Leased
50%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,400 SF
Slab To Slab
12’
Building FAR
0.79
Lot Size
0.14 AC
Zoning
CBD
Parking
10 Spaces (2.08 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 20-06-05-380-012.000-012 | Improvements Assessment | $160,700 |
| Land Assessment | $29,300 | Total Assessment | $190,000 |
Property Taxes
Parcel Number
20-06-05-380-012.000-012
Land Assessment
$29,300
Improvements Assessment
$160,700
Total Assessment
$190,000
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