Log In/Sign Up
Your email has been sent.
228-246 Waterfall Dr 23,180 SF 80% Leased Office Building Elkhart, IN 46516 $2,995,000 ($129.21/SF)
Investment Highlights
- Located along the Elkhart River within walking distance of downtown amenities and services.
- Features a 23,180 SF complex on a 3.49-acre parcel.
- Includes utilities in lease arrangements, simplifying occupancy costs.
- Offers multiple balconies and decks for tenant use and outdoor workspace.
- Provides easy access to E Jackson Blvd, Middlebury St, and nearby arterial routes.
- Positioned near government offices, banking institutions, and IUSB Elkhart campus.
Executive Summary
Waterfall Professional Village offers an exceptional investment opportunity in the heart of Downtown Elkhart. This 23,180 SF multi-building office complex sits on a 3.49-acre site along the Elkhart River, providing long-term stability and revenue potential for discerning investors. With an asking price of $2,995,000, this property features multiple balconies and decks, creating a unique professional environment that appeals to a diverse array of tenants.
The location ensures strong demand due to its proximity to municipal and county buildings, banking institutions, medical facilities, and Indiana University South Bend (IUSB) Elkhart campus. Walkable access to downtown dining, retail, and services further enhances tenant retention and property value. Positioned near major thoroughfares, including E Jackson Blvd and Middlebury St, the property benefits from excellent regional connectivity for commuters and clients alike.
This portfolio-style asset offers both income-producing spaces and redevelopment flexibility in a thriving economic corridor, making it attractive for both stabilized operations and long-term appreciation.
The location ensures strong demand due to its proximity to municipal and county buildings, banking institutions, medical facilities, and Indiana University South Bend (IUSB) Elkhart campus. Walkable access to downtown dining, retail, and services further enhances tenant retention and property value. Positioned near major thoroughfares, including E Jackson Blvd and Middlebury St, the property benefits from excellent regional connectivity for commuters and clients alike.
This portfolio-style asset offers both income-producing spaces and redevelopment flexibility in a thriving economic corridor, making it attractive for both stabilized operations and long-term appreciation.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
23,180 SF
Building Class
B
Year Built
1985
Price
$2,995,000
Price Per SF
$129.21
Percent Leased
80%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
13,650 SF
Slab To Slab
14’
Building FAR
0.15
Lot Size
3.49 AC
Opportunity Zone
Yes
Zoning
CBD - CBD. Central Business District.
Parking
100 Spaces (4.31 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Property Manager on Site
- Signage
- Skylights
- Waterfront
- Central Heating
- High Ceilings
- Natural Light
- Reception
- Monument Signage
- Outdoor Seating
- Air Conditioning
- Balcony
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-06-05-480-032.000-012 | Improvements Assessment | $1,173,000 |
| Land Assessment | $241,600 | Total Assessment | $1,414,600 |
Property Taxes
Parcel Number
20-06-05-480-032.000-012
Land Assessment
$241,600
Improvements Assessment
$1,173,000
Total Assessment
$1,414,600
1 of 19
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
228-246 Waterfall Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.