Investment Overview

Marcus and Millichap is pleased to present to market available for sale the Dexter Drive Office Building – a fully occupied – 17,331 square foot, single tenant professional office building located in Elkhart Indiana. Dexter Drive Office is located just outside of the Elkhart Municipal Airport. The property was built in 2000 but has been extremely well-maintained and updated over the years, by current ownership. The subject property is currently fully occupied by the sole professional user of the building with great long-term upside in aggressive rental increases over the next five years. Location: Dexter Drive Office building is located in the Goshen Metropolitan Statistical Area. The Goshen MSA, located in Elkhart County has a population of roughly 216k residents as of the 2022 census, up approximately 9% from 2010. The Dexter Drive Office Building is positioned strategically right outside of the Elkhart airport as a community serving Class B professional office building. Dexter Drive Office is situated along City Rd 6 / U.S. Route 90 – a densely populated commercial corridor that gets approximately 30,000 VPD – with immediate access to/from multiple interstates. The subject property is located in a business heavy corridor with Notre Dame University and downtown South Bend 30 minutes to the West. The immediate proximity of both of these major draws is key to the continued demand for the historical, current, and future tenant mix for the property. Dexter Drive Office is one of the rare office buildings in the area that couples immediate access to downtown Elkhart as well as Downtown South Bend. The subject property is situated on over 2.36 acres and features over 60 surface parking spaces with no steep slopes and one main entrance leading directly onto Dexter Drive. Dexter Drive Office is currently 100% occupied by the sole professional user that has demonstrated long-term commitment in this location as well as continued demand for the space through multiple leasing cycles in recent years. With a stable in-place cash flow secured by a strong professional user, the Dexter Drive Office Building a rare opportunity for an investor to capitalize on strong very stable cash flow with upside potential in both the built-in rent increase and replaceable rents.