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2401 Charlotte Ave - Iron Fox Storage

76,120 SF Specialty Building Offered at $1,393,560 CAD in Elkhart, IN 46517

Investment Highlights

  • New development opportunity in Elkhart, Indiana
  • Supply/demand study shows the trade area is undersupplied by 275,000 SF in a 5-mi radius and 150,000 SF is a 3-mi radius
  • 76,120 NRSF - 542 units permitted to be completed
  • 5-Mile Average Household Income = $72,836 (projected to be $83,305 in 2028)

Executive Summary

This is a turnkey development that encompasses two phases on approximately 5 acres. The site is located on Charlotte Avenue just west of St. Rd. 19 which is the main north/south artery in Elkhart. All approvals and entitlements are in place for the entire project which is slated for 76,120 rentable square feet. The first phase has all site work completed (grading, drainage, fencing, gate & keypads, etc.), is completely fenced and has two buildings erected (6,000 SF). Paving of the drive lanes has not been done. The remainder of the first phase calls for another 22,920 square feet to be erected for a total of 28,920 SF. Grading, drainage and paving will need to be completed for phase II and the fence will need to be expanded out from phase I. The second phase plans for another 47,200 SF for a total of 76,120 SF.
This is a great opportunity to fast track the completion of a ground-up development without all the usual constraints of a self-storage development (site acquisition, zoning & approvals, site layout, initial grading, drainage, etc.). The first phase can quickly be completed and lease-up started as phase II is being worked on.

Attachments

flyer_elkhartin

Property Facts Under Contract

Price $1,393,560 CAD
Price Per SF $18 CAD
Sale Type Investment
Property Type Specialty
Property Subtype Self-Storage
Building Class C
Lot Size 15.02 AC
Building Size 76,120 SF
No. Stories 1
Year Built 2023
Cross Streets Co Rd 24

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
20-05-24-276-015.000-002
Land Assessment
$737,023 CAD
Improvements Assessment
$2,344,736 CAD
Total Assessment
$3,081,759 CAD
  • Listing ID: 30858556

  • Date on Market: 2024-02-02

  • Last Updated:

  • Address: 2401 Charlotte Ave, Elkhart, IN 46517

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