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505 S 3rd St
Elkhart, IN 46516
Hopebridge - Elkhart IN · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Corporate Guaranty From Hopebridge Autism Therapy (100+ Locations): Hopebridge focuses on personalized care, not just diagnoses.
- Surging Demand For ABA Therapy Services: In 2022, the global market for autism spectrum disorder therapies was valued at $1.93 billion.
- Strong Manufacturing Base: Elkhart, the “RV Capital of the World,” is home to major manufacturers like Thor, Forest River, and Keystone.
- Private Equity Backed: Hopebridge benefits from strong private equity backing after its 2019 acquisition by Arsenal Capital Partners
- Sticky Tenancy: ABA therapy providers tend to maintain long-term tenancies because relocating is challenging due to patient retention difficulties.
- Parking Lot: The deal includes two adjacent lots totaling 0.60 acres with over 50 parking spaces.
EXECUTIVE SUMMARY
Sands Investment Group is pleased to exclusively offer for sale the 12,228 SF Hopebridge located at 505 South 3rd Street in Elkhart, IN. This deal includes a 5+ year corporate-guaranteed lease by Hopebridge Autism Therapy Centers, one of the largest ABA therapy operators in the nation, with minimal landlord responsibilities. It is also accompanied by a large acre parking lot, providing a passive investment.
In Cooperation With Sands Investment Group Indiana, LLC - Lic. #RC52000211 BoR: Andrew Ackerman - Lic. IN #RB20001918
In Cooperation With Sands Investment Group Indiana, LLC - Lic. #RC52000211 BoR: Andrew Ackerman - Lic. IN #RB20001918
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
12,228 SF
Building Class
B
Year Built/Renovated
1960/1988
Price
$1,500,000
Price Per SF
$122.67
Cap Rate
8.39%
NOI
$125,789
Tenancy
Single
Building Height
1 Story
Typical Floor Size
12,228 SF
Building FAR
0.26
Lot Size
1.07 AC
Zoning
CBD
Parking
65 Spaces (5.32 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 20-06-05-456-013.000-012 | Improvements Assessment | $362,400 |
| Land Assessment | $77,300 | Total Assessment | $439,700 |
PROPERTY TAXES
Parcel Number
20-06-05-456-013.000-012
Land Assessment
$77,300
Improvements Assessment
$362,400
Total Assessment
$439,700
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