Mixed-Use Building with Event
For Sale
Contact for pricing
107 E 1st Street, Mishawaka, IN 46544
Four tenants, a vacant suite, ballroom space, and a full basement with an existing bar create a flexible commercial layout.
Property Size11,088 SF
Price / SF$89.74
Days on Market147
Property Features for 107 E 1st Street
General Information
Standard status
Active
Size
11,088 SF
Property subtype
Mixed Use
Zoning
C - 3
Building Details
Year Built
1928
Year Renovated
2023
Tenancy
Multi
Listing Agency:
NAI Cressy - Mishawaka
Listed By:
Samuel Cressy · License #RB19001226
(574) 344-9588
Source:
Crexi
Added: May 26
Changed: Oct 13
Last Checked: Oct 19 at 3:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Cressy - Mishawaka
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Investment Insights
Based on property information with market context.
This 11,088-square-foot mixed-use building, constructed in 1928, combines a multi-tenant configuration with an event space and ballroom. Four tenants currently occupy the property, while one suite is vacant. The full basement includes an existing bar that could be renovated for future use. Personal property associated with the event operation is available separately, and a 3 way liquor license is available. The property is zoned C-3.
At the corner of E. 1st Street and North Main Street in downtown Mishawaka, the building sits within the city’s central business district. The surrounding area includes retail, office, dining, community spaces, boutiques, and entertainment venues. The Mishawaka Riverwalk along the St. Joseph River is nearby, and access extends to Lincolnway East, State Road 933, and the greater South Bend metro area.
At the corner of E. 1st Street and North Main Street in downtown Mishawaka, the building sits within the city’s central business district. The surrounding area includes retail, office, dining, community spaces, boutiques, and entertainment venues. The Mishawaka Riverwalk along the St. Joseph River is nearby, and access extends to Lincolnway East, State Road 933, and the greater South Bend metro area.
Key Highlights
- 11,088‑square‑foot mixed‑use building constructed in 1928
- Four current tenants plus one vacant suite
- Event space and ballroom included in the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,973
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,699,460
$1.7M
Cap Rate 7%
$1,213,900
$1.2M
Cap Rate 9%
$944,144
$944.1K
Market Conditions
NOI Build-Up for 11,088 SF
Gross rent
$174.3K $15.72/SF
− Vacancy
−$38.3K −$3.46/SF
EGI
$136.0K $12.26/SF
− OpEx
−$51.0K −$4.60/SF
NOI
$85.0K $7.66/SF
Area
St. Joseph County, IN
Vacancy
22.00%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,699,460
Cap Rate 7%
$1,213,900
Cap Rate 9%
$944,144
Alternative Uses
Best Use
Mixed Use
$1.21M
$1.06M – $1.42M
NOI $84,973 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.20M
$1.92M – $2.57M
NOI $153,912 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 46544, IN
31,571
Population
13,661
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
39.8 sq mi
ZIP Area
793
Density / Sq Mi
$57,873
Median Household Income
$40,120
Median Earnings
$1,018
Median Rent
$151,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four tenants, a vacant suite, ballroom space, and a full basement with an existing bar create a flexible commercial layout.
Where is this mixed-use property located?
The property is located at 107 E 1st Street Mishawaka, IN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 11,088‑square‑foot mixed‑use building constructed in 1928; Four current tenants plus one vacant suite; Event space and ballroom included in the building
