Flex Space with Basement
For Sale
$199,900
314 N Dixie Way, South Bend, IN 46637
Building includes off-street parking and a basement with garage-door access.
Property Size2,171 SF
Price / SF$92.08
Days on Market96
Property Features for 314 N Dixie Way
General Information
Standard status
Active
Size
2,171 SF
Amenities
garage door access to basement
Building Details
Year Built
1947
Buildings
1
Listing Agency:
LPT Realty
Listed By:
Jeffrey Foster, Francee Foster · License #RB14019389
(574) 876-8570
Source:
Spencerchildersgroup
Added: Aug 1
Changed: Oct 25
Last Checked: Oct 7 at 1:06PM
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 LPT Realty
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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 flex-space building in South Bend includes a new roof, a well, off-street parking, and a basement reached through a garage door. The basement also contains a small paint booth. The property previously operated as a trim shop, providing a documented commercial-use history. Located on N Dixie Way in the Roseland area, the building is close to Notre Dame. Its existing basement access, parking, and building improvements provide the primary physical characteristics for evaluating the property.
Key Highlights
- New roof
- Off‑street parking
- Basement access through a garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,491
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,820
$349.8K
Cap Rate 7%
$249,871
$249.9K
Cap Rate 9%
$194,344
$194.3K
Market Conditions
NOI Build-Up for 2,171 SF
Gross rent
$28.7K $13.20/SF
− Vacancy
−$1.7K −$0.81/SF
EGI
$26.9K $12.39/SF
− OpEx
−$9.4K −$4.34/SF
NOI
$17.5K $8.06/SF
Area
South Bend, IN
Vacancy
6.10%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,820
Cap Rate 7%
$249,871
Cap Rate 9%
$194,344
Alternative Uses
Best Use
Office B
$406.4K
$355.6K – $474.2K
NOI $28,449 @ 7.0% cap · market cap 14.23%
Second Best
Retail
$304.8K
$266.7K – $355.6K
NOI $21,337 @ 7.0% cap · market cap 10.67%
Theoretical Best
Office A
$549.2K
$480.6K – $640.8K
NOI $38,446 @ 7.0% cap · market cap 19.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46637, IN
15,887
Population
8,396
Households
1.9
Avg Household Size
38
Median Age
38%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
1,589
Density / Sq Mi
$72,401
Median Household Income
$40,841
Median Earnings
$1,167
Median Rent
$192,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Building includes off-street parking and a basement with garage-door access.
Where is this flex space located?
The property is located at 314 N Dixie Way South Bend, IN.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: New roof; Off‑street parking; Basement access through a garage door
