Mixed-Use Property in Miami
1518 Miami Street South Bend, IN 46613
For Sale
$100,000
Storefront with attached apartment in a growing area.
Property Size651 SF
Price / SF$153.61
Days on Market82
Property Features for 1518 Miami Street
General Information
Standard status
Active
Size
651 SF
Property subtype
Multi Family / Other
Building Details
Year Built
1922
Listing Agency:
Weichert Rltrs-J.Dunfee&Assoc.
(574) 277-7444
Listed By:
Cat Zmud · License #RB24000014
(574) 277-7444
Source:
Compass
Added: May 8
Changed: Jul 10
Last Checked: Jul 28 at 5:49PM
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 Weichert Rltrs-J.Dunfee&Assoc.
Investment Insights
Based on property information with market context.
This mixed-use property at 1518 Miami Street, South Bend, IN 46613 offers a storefront and an attached 2-bedroom apartment, presenting opportunities for multiple income streams. The property, situated in Miami Village, includes off-street parking for 2 vehicles. Its location places it near Crooked Ewe, South Bend Farmers Market, Ivy Tech, Witches BrewPub, and LangLab, positioning it within a growing area. The property size is 651 square feet. This property is suitable for an owner-occupant or an investor seeking future cash flow potential.
Key Highlights
- Mixed‑use property featuring a storefront and a comfortable 2‑bedroom apartment.
- Potential for multiple income streams.
- Benefit from off‑street parking for 2 vehicles.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.9k | $19.80 |
| − Vacancy | −$1.4k | −$2.08 |
| EGI | $11.5k | $17.72 |
| − OpEx | −$4.3k | −$6.65 |
| NOI | $7.2k | $11.08 |
651 SF · lease $19.80/SF/yr · vacancy 10.50% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$103.0K
$90.1K – $120.2K
NOI $7,210 @ 7.0% cap · market cap 7.21%
Second Best
Retail
$91.4K
$80.0K – $106.6K
NOI $6,398 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$164.7K
$144.1K – $192.2K
NOI $11,529 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront with attached apartment in a growing area.
Where is this mixed-use property located?
The property is located at 1518 Miami Street South Bend, IN.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: Mixed‑use property featuring a storefront and a comfortable 2‑bedroom apartment.; Potential for multiple income streams.; Benefit from off‑street parking for 2 vehicles.
