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    John Piraccini, Granger, IN

    Coldwell Banker Commercial Roth Wehrly Graber
    Years of Experience
    16

    Service Locations

    Contact details

    Phone:
    (574) 243-9522
    Office Address:
    1539 N Ironwood Dr, South Bend, IN, 46635

    Performance

    Listings
    19
    Total transactions
    77
    Total transactions amount
    $38M
    Price range
    $329k - 741k
    Average price
    $494k

    Listings

    For Sale (19)

    View map
    • $710,000
      1.70 Acres

      Grape Road Commercial Land

      1.7 Acres, High Traffic Area, Development Potential
      2706 Grape Rd, Mishawaka, IN 46545
      View Details
    • $1,550,000
      11.14 Acres

      11 Acres Granger Residential Land

      Prime Granger land, investment potential.
      15199 Cleveland Rd, Granger, IN 46530
      View Details
    • $950,000
      1.05 Acres

      Mishawaka Outlot - Prime Location

      1.05-acre commercial land, Mishawaka, IN
      0 Douglas Rd, Mishawaka, IN 46545
      View Details
    • $895,000
      2.30 Acres

      Elkhart Commercial Land Outlot

      High-traffic location, development ready
      0 County Road 24, Elkhart, IN 46517
      View Details
    • $895,000
      4,008 SF

      Granger Retail Building - $895,000

      Unique barn-style retail space, high visibility.
      12650 Adams Rd, Granger, IN 46530
      View Details
    • $329,000
      1.34 Acres

      17242 Douglas Rd

      Land • 1.34 Acres
      17242 Douglas Rd, South Bend, IN 46635
      View Details
    • Contact for pricing
      16.65 Acres

      Class A Mishawaka Commercial Land

      16 Acres, High-Traffic Location, Development Opportunity
      16000 Douglas Rd, Mishawaka, IN 46545
      View Details
    • $949,000
      11.00 Acres

      Elkhart Commercial Land - 11 Acres

      Prime Elkhart location, high visibility, development opportunity.
      22538 Pine Arbor Dr, Elkhart, IN 46516
      View Details
    • $869,000
      0.67 Acres

      Edison Rd. Commercial Land

      High-density redevelopment opportunity near Notre Dame.
      2016 Edison Rd, South Bend, IN 46617
      View Details
    • $395,000
      1.60 Acres

      Elkhart SR 19 Commercial Outlot

      1.6-acre commercial land, prime location.
      0 Vacant Land In-19, Elkhart, IN 46517
      View Details
    • $1,299,000
      15,534 SF

      Downtown Mishawaka Mixed-Use

      High-yield retail & multifamily investment.
      608 Main St, Mishawaka, IN 46545
      View Details
    • $995,000
      1.00 Acre

      Mishawaka Commercial Land - $995,000

      1-Acre Outlot, Prime Location
      0 Douglas Rd, Mishawaka, IN 46545
      View Details
    • $895,000
      2.60 Acres

      Elkhart Commercial Land - SR 19 Outlot

      Prime 2.6-acre commercial lot, high traffic.
      0 Charlotte Ave, Elkhart, IN 46517
      View Details
    • $2,550,000
      36,112 SF

      Executive Office Building, South Bend

      Prime location, renovated office space.
      1030 Jefferson Blvd, South Bend, IN 46617
      View Details
    • $995,000
      16.87 Acres

      Granger Residential Land Development

      28 Lots, Prime Granger Location, Penn Schools
      0 Anderson Lake Dr, Granger, IN 46530
      View Details
    • $1,350,000

      Mixed-Use Property in Downtown Mishawaka

      Investment opportunity near Mishawaka Riverwalk with retail and apartments.
      608 N Main St, Mishawaka, IN 46545
      View Details
    • $850,000
      11 SF

      Development Opportunity Near Arbor Lakes

      11-acre development site with high visibility and frontage.
      22538 Pine Arbor Dr, Elkhart, IN 46516
      View Details
    • $249,000
      2,080 SF

      Mishawaka Office Building For Sale

      Two-story, 2,080 SF office building in downtown Mishawaka.
      607 W Lincolnway Hwy, Mishawaka, IN 46544
      View Details
    • $359,000
      1 SF

      South Bend Outlot Land Available

      1.73 AC outlot available for sale in South Bend.
      1.73 Ac Outlot Sr 19 Hwy, South Bend, IN 46628
      View Details

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    John Piraccini, Granger, 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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