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    Corey Cressy Ccim, Mishawaka, IN

    License ID: IN RB14026100
    Newmark Grubb Cressy & Everett
    Association
    Indiana Commercial Board Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (574) 485-1513
    Office Address:
    3930 Edison Lakes Pkwy, Mishawaka, IN, 46545

    Performance

    Listings
    25

    Listings

    For Sale (22)

    View map
    • $750,000
      10.00 Acres

      Filbert Road Development Land

      10 Acres, Mishawaka, IN - $750K
      at Catalpa Vl Filbert Rd, Mishawaka, IN 46545
      View Details
    • $2,425,000
      9.70 Acres

      Mishawaka Commercial Land - $2.4M

      9.7 Acres, High-Visibility Location
      1240 Douglas Rd, Mishawaka, IN 46545
      View Details
    • $3,027,500
      8.65 Acres

      Trinity Place: 8.65 Acres

      Mishawaka, IN development land. Prime location.
      0 Of The St Joseph Health Services Mishawaka Campus - Mishawaka -, Mishawaka, IN 46530
      View Details
    • $11,344,000
      52.20 Acres

      Mishawaka Commercial Land - $11.3M

      52 Acres, Prime Medical/Office Location
      7E 7F, Mishawaka, IN 46530
      View Details
    • $1,192,500
      2.65 Acres

      Edison Lakes Parkway Commercial Land

      2.65-Acre Commercial Lot, Mishawaka, IN
      0 Edison Lakes Pkwy, Mishawaka, IN 46545
      View Details
    • $3,195,000
      7.10 Acres

      Trinity Place: 7.1 Acres

      Mishawaka, IN development land, ideal for medical or office use.
      0 Of The St Joseph Health Services Mishawaka Campus - Mishawaka -, Mishawaka, IN 46530
      View Details
    • $250,000
      6.50 Acres

      Mishawaka Land: 6.5 Acres

      Prime commercial land, ideal for various uses.
      Parcel 1 Park Pl Dr & Filbert Rd, Mishawaka, IN 46545
      View Details
    • $932,750
      2.87 Acres

      Day & Filbert Road Development Land

      2.87 Acres, Mishawaka, IN - Prime Location
      0 Day Rd, Mishawaka, IN 46545
      View Details
    • $409,500
      1.17 Acres

      University Drive Commercial Land

      1.17-acre development site, prime location.
      0 University Dr, Mishawaka, IN 46530
      View Details
    • $175,000

      Land Near University Retail

      4.35 acre commercial land near Edison Lakes Corporate Park.
      Park Pl Dr, Mishawaka, IN
      View Details
    • $2,200,000

      Restaurant or Commercial Development Site

      High-profile commercial land in Riverfront District, University Park retail area.
      Main St, Mishawaka, IN 46544
      View Details
    • $3,195,000

      Wooded Land Near Juday Creek

      Land near hospital, shopping, and restaurants.
      Trinity Pl, Mishawaka, IN
      View Details
    • $409,500

      Commercial Land in High-Traffic Area

      1.17-acre commercial land for development in a busy retail area.
      University Dr, Mishawaka, IN 46545
      View Details
    • $836,250

      Commercial Land with Great Access

      Land with frontage, signalized corner, near retail area.
      1510 E Douglas Rd, Mishawaka, IN 46545
      View Details
    • $1,300,000

      Corner Land Parcel For Sale

      Land parcel in University Park retail area, can be divided.
      Edison Lakes Pkwy, Mishawaka, IN 46545
      View Details
    • $750,000

      10 Acres Ideal for Development

      10 acres suitable for multi-family, assisted living, or mixed-use.
      Filbert At Catalpa, Mishawaka, IN
      View Details
    • $932,750

      Corner Land Near Edison Lakes

      Land ideal for retail/office development with high traffic visibility.
      Day Rd At Filbert Rd, Mishawaka, IN
      View Details
    • $591,750

      Commercial Development Site For Sale

      High-profile commercial land in Riverfront District, University Park retail area.
      5111 N Main St, Mishawaka, IN 46545
      View Details
    • $3,634,000

      Wooded Land Near Juday Creek

      Land near hospital, shopping, and restaurants.
      Douglas Rd & Fir Rd, Mishawaka, IN
      View Details
    • $1,487,500

      Wooded Land Near Juday Creek

      Land near hospital, shopping, and restaurants.
      Fir Vl Rd, Mishawaka, IN
      View Details
    • $1,192,500

      Edison Lakes Retail/Office Parcel

      2.65-acre retail/office parcel in University Park retail area.
      West Edison Rd, Mishawaka, IN 46545
      View Details
    • $2,397,500

      Development Land Near Medical Center

      Development and expansion land available in strong demographic area.
      15377 Douglas Rd, Granger, IN 46530
      View Details

    For Lease (3)

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    • $30 SF/Yr
      12,936 SF

      Main Street Marketplace Retail Space

      Mishawaka, IN retail space available. High traffic location.
      5319-5351 Main St, Mishawaka, IN 46545
      View Details
    • $5 SF/Yr
      24,521 SF

      Jefferson Blvd Executive Suites

      South Bend Office Space: 4,958-9,916 SF
      315 Jefferson Blvd, South Bend, IN 46601
      View Details
    • $5 SF/Yr
      4,958 SF

      Two-Story Office Building For Rent

      Well-maintained office building in South Bend's central business district.
      315-319 W Jefferson Blvd, South Bend, IN 46601
      View Details

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    Corey Cressy Ccim, Mishawaka, IN
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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