The Hart City Portfolio FOR SALE


Elkhart, IN - South Elkhart
$8,900,000 USD
219-200-5133
, Elkhart, IN for Sale
$8,900,000 USD
FOR SALE
1/121
null | 7.64% Cap Rate

The Hart City Portfolio
Elkhart, IN
South Elkhart


HIGHLIGHTS

  • Anchored by Patrick Industries (NASDAQ: PATK) - 29,196 SF on a newly signed triple-net lease, 8 years in occupancy
  • 16.69 contiguous acres with direct frontage on State Road 19, minutes from the Indiana Toll Road at Exit 92
  • 23 tenants across 88 leasable spaces and seven income streams - no single space carries the campus

OVERVIEW

Rare contiguous 16.69-acre commercial campus with direct frontage on State Road 19 in Elkhart, Indiana - the RV manufacturing capital of the United States - in a county holding 2.6% industrial vacancy. Six buildings and 88 separately leasable spaces produce seven distinct income streams: a 40,200 SF climate-controlled resale mall anchored by a sit-down restaurant, 25,720 SF of anchor and small-bay industrial, an 8,880 SF clear-span service building, and 18,334 SF of drive-up self-storage across 56 units built between 2016 and 2018. Patrick Industries (NASDAQ: PATK) occupies 29,196 SF across two buildings on a newly signed triple-net lease, and has been in continuous occupancy since 2018. Twenty-three tenants in total, so no single space carries the campus. Net operating income has grown 14.1% over two years and 9.8% in 2026, while property taxes fell 12.1% and the assessment dropped 17.9%. Ownership's books reconcile to Elkhart County tax records to the penny. The on-site management operation conveys with the sale.

ASK ABOUT THIS PROPERTY

Jeremy SlowinskiEllsbury Commercial GroupMore Info
219-200-5133

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Jeremy SlowinskiEllsbury Commercial GroupMore Info
219-200-5133

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