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228-246 Waterfall Dr 23,180 SF 80% Leased Office Building Elkhart, IN 46516 $4,160,654 CAD ($179.49 CAD/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
$4,160,654 CAD
Price Per SF
$179.49 CAD
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 | $1,622,904 CAD |
| Land Assessment | $334,266 CAD | Total Assessment | $1,957,170 CAD |
Property Taxes
Parcel Number
20-06-05-480-032.000-012
Land Assessment
$334,266 CAD
Improvements Assessment
$1,622,904 CAD
Total Assessment
$1,957,170 CAD
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228-246 Waterfall Dr
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