Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Adaptable Building in High-Traffic Area Title is generated by Realmo AI

    5505 Grape Rd, Mishawaka, IN

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Adaptable 15,000 SF building in high-traffic commercial corridor.

    Type:RETAIL
    Property size:
    15,000 SF
    Lot size:
    1.73 Acres
    Price / SF:
    $121/SF
    Added:
    Feb 12, 2025
    Days on Market:
    478
    Last Refresh:
    May 20 at 8:08 pm

    Property Features for 5505 Grape Rd

    General Information

    Standard status
    Active
    Size
    15,000 SF
    Lot size
    1.73 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Edward (Ed) F Bradley

    Listing agent Edward (Ed) F Bradley

    Listing office NAI Cressy Commercial Real Estate - Corporate

    Listing date Feb 12, 2025

    Source Moodyscre

    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 Commercial Real Estate - Corporate

    HighLights

    • High‑traffic location: Over 24,000 cars daily on Grape Road.
    • Adaptable building: Suitable for various uses beyond a climbing gym.
    • Strong demographic trade area.
    • Development opportunity.
    • Adjacent properties available for redevelopment.
    • Currently operating as a climbing gym.

    Overview

    This 15,000 square foot building is located on a high-traffic commercial corridor with over 24,000 cars daily on Grape Road. Currently operating as a climbing gym, the building is adaptable for other uses. It is situated in one of the strongest demographic trade areas in the region. Adjacent properties are available for redevelopment, presenting a development opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apex Climbing Gym Gym & Fitness Center

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mishawaka
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.1892
    Latitude
    41.7104

    Nearby Similar for Sale

    • $3,676,400

      Mishawaka Industrial Facility For Sale

      Industrial facility with easy access, heavy power, and updated offices.
      1655 E 12th Street, Mishawaka, IN 46544
      View Details
    • $215,900
      3,116 SF

      Mishawaka Fourplex - Investor Special

      Fourplex in Mishawaka, Indiana, renovations started, selling as-is.
      550 Lincolnway, Mishawaka, IN 46544-1846
      View Details
    • $400,000
      4,834 SF

      Historic Dodge House For Sale

      Historic building suitable for office or residence with Queen Anne architecture.
      415 Lincolnway East, Mishawaka, IN, 46544
      View Details
    • $495,000
      3,120 SF

      Downtown Mishawaka Commercial Building For Sale

      Charming commercial building in downtown Mishawaka's central business district.
      110 Lincolnway E, Mishawaka, IN 46544
      View Details
    • $4,860,000
      36,531 SF

      Grocery Shadow Anchored Retail Center

      Retail center with value-add opportunities in Mishawaka, Indiana.
      316 N Bittersweet Rd, Mishawaka, IN 46544
      View Details
    • $169,000
      11,060 SF

      Versatile Commercial Mixed-Use Property

      High-traffic location, income potential, flexible warehouse space.
      2302 Lincolnway West, Mishawaka, IN 46544
      View Details
    • Contact for pricing
      6,490 SF

      Saltgrass Steak House For Sale

      American steakhouse chain restaurant property for sale in Mishawaka, Indiana.
      5126 N Main St, Mishawaka, IN 46545
      View Details
    • $299,900

      Warehouse with Apartment in Mishawaka

      Warehouse with a one-bedroom apartment on Mishawaka's west side.
      1200 W 6Th Street, Mishawaka, IN 46544-1720
      View Details
    • $2,250,000

      Class A Office Building For Sale

      Class A office building in Edison Lakes Corporate Park.
      3820 Edison Lakes Pkwy., Mishawaka, IN 46545
      View Details
    • $600,000
      12,374 SF

      Mishawaka Industrial Building Redevelopment Opportunity

      12,234 SF industrial building in downtown Mishawaka for sale.
      301 Lincolnway E., Mishawaka, IN 46544
      View Details
    • $749,000
      6,100 SF

      Edison Lakes Class A Office

      Class A office building in Mishawaka's prime office park.
      3550 Park Pl W, Mishawaka, IN
      View Details
    • $320,000
      7,148 SF

      Mishawaka Retail/Industrial Opportunity

      Two-parcel property near McKinley Ave, suitable for retail/industrial use.
      55955 Hoosier Ave, Mishawaka, IN 46545
      View Details

    FAQs

    What type of property is this?
    Retail property - Adaptable 15,000 SF building in high-traffic commercial corridor.
    Where is this retail property located?
    The property is located at 5505 Grape Rd Mishawaka, IN.
    What is the asking price?
    The asking price for this property is $1,825,000.
    What are key features of this property?
    This property features: High‑traffic location: Over 24,000 cars daily on Grape Road.; Adaptable building: Suitable for various uses beyond a climbing gym.; Strong demographic trade area.
    (574) 485-1538 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Edward (Ed) F Bradley
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5505 Grape Rd, Mishawaka, IN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!