3551 Cassopolis St - Drug Store FOR SALE


Elkhart, IN 46514- North Elkhart
$3,500,000 USD
619-297-0055
3551 Cassopolis St, Elkhart, IN for Sale
$3,500,000 USD
Drug Store - FOR SALE
1/3
null | 10% Cap Rate

3551 Cassopolis St
Elkhart, IN 46514
North Elkhart


HIGHLIGHTS

  • Walgreens has operated at this location for over 17 years with 8 years of firm lease on an absolute net lease.
  • In a 5 mi and 10 mi radius there is approximately 75,000 and 175,000 residents. Average HH incomes range from $70,000 to $80,000.
  • 29 hotels within a 1-mile radius of the property (2,056 rooms) including Garden Inn (145 rooms) and Baymont Inn & Suites (123 rooms).
  • Located along Elkhart’s main corridor with 24K VPD, surrounded by retailers including Walmart, Meijer, Lowe’s and Menards.
  • Citywide revitalization efforts include the $300M+ ASPIRE Elkhart initiative, River District transformation, and business park expansion
  • Immediate connectivity to the Indiana Toll Road (I-80/I-90) allows easy access to South Bend, Chicago, and the greater Midwest.

OVERVIEW

We are pleased to present for sale the Walgreens property located at 3551 Cassopolis St, Elkhart, IN 46514 ("The Property"). Walgreens has operated at this location for over 17 years and currently has more than 8 years of firm lease term remaining. The lease is structured as an absolute triple net (NNN) lease, with no landlord responsibilities. The Property is strategically positioned along Cassopolis Street (IN-19), a major north-south arterial that connects directly to the I-80/90 Indiana Toll Roa. The site benefits from 24,246 combined vehicles per day, high visibility, and convenient ingress/egress. This corridor serves as a primary commercial hub in Elkhart, surrounded by established national retailers including Walmart Supercenter, Meijer, Lowe’s and Menards. Elkhart is currently undergoing a major revitalization, with more than $300 million in public and private investment committed to infrastructure, housing, and mixed-use development. Key initiatives include the ASPIRE Elkhart plan, the River District transformation, and ongoing business park expansions—all of which contribute to the city’s growing economic base and long-term sustainability. The property also benefits from its proximity to 29 hotels within a 1-mile radius (2,056 rooms), including Garden Inn (145 rooms), Baymont Inn & Suites (123 rooms), and Daylite Inn (120 rooms). Located just 1.5 miles north, Simonton Lake spans over 300 acres and is a well-known year-round destination for boating, fishing, and recreation, drawing thousands of visitors annually. Listed in conjunction with Brian Brockman, Bang Realty Inc, 513-898-1551, wg@bangrealty.com, IN DRE Lic. RB14037939.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$243 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

15 Mi from S Bend Indiana Walgreens 10 CAP

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,965 SF

ZONING

ZO01

APN/PARCEL ID

20-02-20-203-001.000-027

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.