Corner Retail
For Sale
$1,800,000
2048 E Ireland Rd, South Bend, IN 46614
C-zoned commercial space offers retail, medical, and office use potential with prominent building signage.
Property Size13,723 SF
Price / SF$131.17
Days on Market2554
Property Features for 2048 E Ireland Rd
General Information
Standard status
Active
Size
13,723 SF
Property subtype
Retail
Zoning
C
Additional Details
Corner Location
Yes
Building Details
Building Size
13,723 SF
Year Built
2005
Year Renovated
2008
Buildings
1
Stories
1
Listing Agency:
Berkshire Hathaway HomeServices Northern Indiana Real Estate
Listed By:
Joe Grabill · License #RB14033276
(574) 284-2600
Source:
Cpix.resimplifi
Added: Oct 22, 2019
Changed: Oct 13
Last Checked: Oct 16 at 5:56AM
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 Berkshire Hathaway HomeServices Northern Indiana Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 13,723-square-foot retail property was constructed in 2005 and is designated C zoning. The building can accommodate retail, medical, or office users, providing flexibility for a range of commercial operations. Pylon signage and suite signage are available for identification from the surrounding roadway.
The property occupies the corner of Ireland Road and Ironwood Drive in South Bend, Indiana. Its placement along the Ireland Road retail corridor provides a visible corner setting on the city’s south side.
The property occupies the corner of Ireland Road and Ironwood Drive in South Bend, Indiana. Its placement along the Ireland Road retail corridor provides a visible corner setting on the city’s south side.
Key Highlights
- 13,723 SF retail property constructed in 2005
- C zoning designation
- Retail, medical, and office use potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,870
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,697,400
$2.7M
Cap Rate 7%
$1,926,714
$1.9M
Cap Rate 9%
$1,498,556
$1.5M
Market Conditions
NOI Build-Up for 13,723 SF
Gross rent
$205.8K $15.00/SF
− Vacancy
−$13.2K −$0.96/SF
EGI
$192.7K $14.04/SF
− OpEx
−$57.8K −$4.21/SF
NOI
$134.9K $9.83/SF
Area
South Bend, IN
Vacancy
6.40%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,697,400
Cap Rate 7%
$1,926,714
Cap Rate 9%
$1,498,556
Alternative Uses
Best Use
Retail
$1.93M
$1.69M – $2.25M
NOI $134,870 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $243,022 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
68k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Superstores 18%
Dining 17%
Apparel 11%
Speedway
Shops & Services
25,213 visits/mo
0.1 miles
Big Lots
Superstores
12,454 visits/mo
0.3 miles
Drive & Shine Car Wash
Shops & Services
11,674 visits/mo
0.2 miles
Wings Etc.
Dining
10,331 visits/mo
0.2 miles
Goodwill
Apparel
7,246 visits/mo
0.2 miles
Demographics for 46614, IN
29,917
Population
12,995
Households
2.3
Avg Household Size
43
Median Age
34%
College-Educated
93%
High-School Grad
53.2 sq mi
ZIP Area
562
Density / Sq Mi
$70,998
Median Household Income
$43,793
Median Earnings
$886
Median Rent
$174,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - C-zoned commercial space offers retail, medical, and office use potential with prominent building signage.
Where is this retail space located?
The property is located at 2048 E Ireland Rd South Bend, IN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 13,723 SF retail property constructed in 2005; C zoning designation; Retail, medical, and office use potential
