2401 Charlotte Ave - Iron Fox Storage
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2401 Charlotte Ave - Iron Fox Storage
76,120 SF Specialty Building Offered at $980,000 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.
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.
Property Facts Under Contract
| Price | $980,000 | Lot Size | 15.02 AC |
| Price Per SF | $13 | Building Size | 76,120 SF |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2023 |
| Property Subtype | Self-Storage | Cross Streets | Co Rd 24 |
| Building Class | C |
| Price | $980,000 |
| Price Per SF | $13 |
| 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 |
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PROPERTY TAXES
| Parcel Number | 20-05-24-276-015.000-002 | Improvements Assessment | $1,648,900 |
| Land Assessment | $518,300 | Total Assessment | $2,167,200 |
PROPERTY TAXES
Parcel Number
20-05-24-276-015.000-002
Land Assessment
$518,300
Improvements Assessment
$1,648,900
Total Assessment
$2,167,200
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2401 Charlotte Ave - Iron Fox Storage
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