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    Joe Grabill, Chapman, NE

    License ID: RB14033276
    Berkshire Hathaway Homeservice
    Association
    Greater South Bend- Mishawaka Association Of Realtors Inc

    Service Locations

    Indiana

    Michigan

    Contact details

    Phone:
    (574) 284-2610
    Office Address:
    68827 M 62, Edwardsburg, MI, 49112

    Performance

    Listings
    19

    Listings

    For Sale (7)

    View map
    • $2,426,400
      60.26 Acres

      Hawthorne Commercial Land Investment

      60 Acres+ Prime Commercial Land
      0 Hawthorne Rd, South Bend, IN 46614
      View Details
    • $995,000
      19,149 SF

      Mishawaka Flex Space: $995,000

      19,149 SF Flex Space, Great Location
      1530 Ken Mcintee Ct, Mishawaka, IN 46544
      View Details
    • $900,000
      3.00 Acres

      Mishawaka Commercial Land - 3 Acres

      Prime Commercial Land, Build-to-Suit Available
      0 Edison Rd, Mishawaka, IN 46545
      View Details
    • $389,000
      192,000 SF

      Historic South Bend Warehouse

      192,000 SF Warehouse - $389,000
      2015 Western Ave, South Bend, IN 46619
      View Details
    • $1,495,000

      Edwardsburg Mixed-Use Investment Opportunity

      High-potential mixed-use property in Edwardsburg, MI.
      26296 Us Highway 12, Edwardsburg, MI 49112
      View Details
    • $1,300,000

      New Carlisle Restaurant - $1.3M

      Established Restaurant, Ample Parking, Extra Lot Included
      0 Us Highway 20, New Carlisle, IN 46552
      View Details
    • $1,050,000

      Granger Commercial Land - 6.57 Acres

      Prime Commercial Land, High Visibility
      15362 In-23, Granger, IN 46530
      View Details

    For Lease (12)

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    • $174 SF/Yr
      3,550 SF

      Ironwood Plaza Office Space Available

      South Bend, IN medical & creative office suites.
      1801 Ironwood Dr, South Bend, IN 46613
      View Details
    • $12 SF/Yr
      7,500 SF

      Downtown Mishawaka Retail Space

      7,500 SF Restaurant/Retail Space Available
      100 Center St, Mishawaka, IN 46544
      View Details
    • $15 SF/Yr
      13,723 SF

      South Bend Medical Office Building

      13,723 SF Medical/Retail Space For Sale/Lease
      2042 Ireland Rd, South Bend, IN 46614
      View Details
    • $14 SF/Yr
      1,320 SF

      Lakeville Retail Space For Lease

      Restaurant Space, Multiple Units Available
      410 Motts Aly, Lakeville, IN 46536
      View Details
    • $15 SF/Yr
      3,000 SF

      Downtown Mishawaka Retail Space

      Prime Location, 3000 sq ft Bar/Restaurant
      111 Lincolnway, Mishawaka, IN 46544
      View Details
    • $12 SF/Yr
      5,784 SF

      South Bend Industrial Flex Space

      Modern Flex Space, Immediate Occupancy
      1002 Lafayette Blvd, South Bend, IN 46601
      View Details
    • $24 SF/Yr
      15,233 SF

      Traction HQ: South Bend Office Space

      Prime South Bend office, flexible suites, Eddy Street location.
      1130 Bend Ave, South Bend, IN 46617
      View Details
    • $14 SF/Yr
      2,754 SF

      South Bend Office Space For Lease

      Prime location, 2754 sq ft, drive-thru.
      17977 Cleveland Rd, South Bend, IN 46635
      View Details
    • $10 SF/Yr
      2,372 SF

      Plymouth Retail Space - Jefferson St

      Large Retail Space Available in Plymouth, IN
      1116 Jefferson St, Plymouth, IN 46563
      View Details
    • $17 SF/Yr
      3,125 SF

      Berrien Springs Winery/Brewery Opportunity

      Prime Retail Winery, 16 Acres
      961 Shawnee Rd, Berrien Springs, MI 49103
      View Details
    • $24 SF/Yr
      79,197 SF

      Avalon Downtown Mishawaka Office Space

      Modern Mishawaka office suites available.
      365 Front St, Mishawaka, IN 46544
      View Details
    • $24 SF/Yr
      4,500 SF

      Prime South Bend Medical Office Space

      Class A medical office suites available for lease.
      3575 Portage Ave, South Bend, IN 46628
      View Details

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    Joe Grabill, Chapman, NE
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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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