Multi-Use Building with Two
2029 S MICHIGAN ST South Bend, IN 46613
2029 S MICHIGAN ST, South Bend, IN, 46613
Contact for pricing
For Sale
Contact for pricing
Property includes two storefronts with large display windows, a residential suite, and a massive attached outbuilding, sold as-is.
Property Size1,872 SF
Price / SF$93.48
Days on Market50
Property Features for 2029 S MICHIGAN ST
General Information
- Standard status
- Active
- Size
- 1,872 SF
- Property subtype
- Retail, Mixed Use, Special Purpose
Building Details
- Year Built
- 1915
Listing agency
Irish Realty
(574) 360-2569
Listed by
Steve Smith · License #IN RB14050393
Source
Crexi
Added: Jun 2 Updated: Jul 21 at 3:41AM Checked: Jul 21 at 3:41AM
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 Irish Realty
Investment Insights
Based on property information with market context.
This multi-use building presents two distinct storefronts with large display windows, along with a spacious residential suite. An attached, massive outbuilding adds significant supplemental space for a workshop, storage, or a creative studio, supporting a variety of live-work configurations. The property is being sold strictly in “As-Is” condition and is described as requiring TLC to reach its full potential.
Located at 2029 S Michigan St in South Bend, the property is positioned on a high-visibility, sought-after corridor, offering convenient exposure for the storefront portions.
The layout supports multiple revenue streams, with the storefront areas and residential suite forming the core components, complemented by the attached outbuilding for additional operational flexibility.
Located at 2029 S Michigan St in South Bend, the property is positioned on a high-visibility, sought-after corridor, offering convenient exposure for the storefront portions.
The layout supports multiple revenue streams, with the storefront areas and residential suite forming the core components, complemented by the attached outbuilding for additional operational flexibility.
Key Highlights
- Built in 1915, this multi‑use property includes two distinct storefronts with large display windows
- Features a spacious residential suite in addition to the retail storefronts
- Includes a massive attached outbuilding for workshop, storage, or creative studio use
Local Financial Insights For Flex RnD
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 | $24.7k | $13.20 |
| − Vacancy | −$1.5k | −$0.81 |
| EGI | $23.2k | $12.39 |
| − OpEx | −$8.1k | −$4.34 |
| NOI | $15.1k | $8.06 |
1,872 SF · lease $13.20/SF/yr · vacancy 6.10% · expense 35.00%
Alternative Uses
Best Use
Office B
$350.4K
$306.6K – $408.9K
NOI $24,531 @ 7.0% cap · market cap 14.02%
Second Best
Mixed Use
$296.2K
$259.2K – $345.6K
NOI $20,734 @ 7.0% cap · market cap 11.85%
Theoretical Best
Office A
$473.6K
$414.4K – $552.5K
NOI $33,151 @ 7.0% cap · market cap 18.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
D Barber Shop
Barber Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Property includes two storefronts with large display windows, a residential suite, and a massive attached outbuilding, sold as-is.
Where is this live-work space located?
The property is located at 2029 S MICHIGAN ST South Bend, IN.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Built in 1915, this multi‑use property includes two distinct storefronts with large display windows; Features a spacious residential suite in addition to the retail storefronts; Includes a massive attached outbuilding for workshop, storage, or creative studio use
