Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    60341 Bodnar Blvd Mishawaka, IN 46544

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,378,250

    Land near US 20 Bypass with municipal utilities.

    Lot size:
    10.57 Acres

    Property Features for 60341 Bodnar Blvd

    General Information

    Lot size
    10.57 Acres

    We can help!

    Listing Contact
    Noah Davey
    Noah Davey
    Source: Moodyscre

    Listing Agent: Noah Davey

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Elm Road Medical Campus Land

    This commercial land is located on Bodnar Blvd in Mishawaka, IN, and is part of the Elm Road Medical Campus. The site benefits from municipal utilities and is less than one minute from the Elm Road Exit off US 20 Bypass.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Building Supply Wholesale Shop Auto Repair Shop Pharmacy HVAC Service Electrical Service Daycare Center Locksmith

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

    Location Insight

    • Map
    • Local Demand
    City
    Mishawaka
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.1414144
    Latitude
    41.617228

    Nearby Similar for Sale

    • $349,000
      0.41 Acres

      Warehouse with Apartment in Mishawaka

      Warehouse with a one-bedroom apartment on Mishawaka's west side.
      1200 W 6Th St, Mishawaka, IN 46544
      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
    • $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
    • $275,000
      1,656 SF

      Mishawaka Villa in Reverewood

      Well-maintained 3-bedroom villa with sunroom in desirable Reverewood neighborhood.
      1119 Warrington Ct, 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 46545
      View Details
    • Contact for pricing
      88,854 SF

      Edison Lakes Corporate Office Park

      Class A office building in a prime corporate park.
      1301 E Douglas Rd, Mishawaka, IN 46545
      View Details
    • $3,000,000
      21,896 SF

      Retail Building in University Park

      21,896 SF retail building in established shopping center.
      5802-5948 Grape Rd, Mishawaka, IN 46545
      View Details
    • $888,659
      6,706 SF

      Mishawaka Medical Office Investment Opportunity

      Leased medical office space with long-term tenant commitment.
      3730 Edison Lakes Pkwy, Mishawaka, IN 46545
      View Details
    • $1,825,000
      15,000 SF

      Adaptable Building in High-Traffic Area

      Adaptable 15,000 SF building in high-traffic commercial corridor.
      5505 Grape Rd, Mishawaka, IN 46545
      View Details
    • $2,260,724
      59,480 SF

      Mishawaka Industrial Property For Sale

      Industrial property with ample parking, dock doors, and overhead doors.
      1810 Clover Rd, Mishawaka, IN 46545
      View Details
    • $895,000
      19,145 SF

      Industrial Building For Sale

      19,149 SF industrial building, 10,500 SF is leased.
      1530 Ken Mcintee Ct, Mishawaka, IN
      View Details
    • $4,600,000
      41,452 SF

      Mishawaka Retail and Office Space

      36,652 SF retail with 4,800 SF office space for sale.
      7207 Grape Rd, Mishawaka, IN 46545
      View Details

    FAQs

    What type of property is this?
    Land - Land near US 20 Bypass with municipal utilities.
    Where is this land located?
    The property is located at 60341 Bodnar Blvd Mishawaka, IN.
    What is the asking price?
    The asking price for this property is $2,378,250.
    What are key features of this property?
    This property features: - Less than one minute from the Elm Road Exit off US 20 Bypass; - Municipal utilities; - Elm Road Medical Campus
    (574) 271-4060
    Request Owner's contact information
    60341 Bodnar Blvd Mishawaka, IN 46544
    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.
    60341 Bodnar Blvd
    Mishawaka, IN 46544
    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
    60341 Bodnar Blvd Mishawaka, IN 46544
    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

    We can help!
    Listing Contact
    Noah Davey
    Noah Davey
    (574) 271-4060
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.