Industrial Warehouse For
For Sale
Contact for pricing
3303 William Richardson Ct, South Bend, IN 46628
9,300 SqFt industrial warehouse available for purchase.
Property Size9,300 SF
Price / SF$77.31
Days on Market163
Property Features for 3303 William Richardson Ct
General Information
Standard status
Active
Size
9,300 SF
Class
B
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
2008
Buildings
1
Stories
1
Units
1
Listing Agency:
Endeavour Commercial
(574) 536-4438
Listed By:
Brent Miller · License #IN
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 11 at 8:01AM
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 Endeavour Commercial
Investment Insights
Based on property information with market context.
This industrial property offers 9,300 square feet of warehouse space and is available for sale.
Key Highlights
- Industrial property
- 9,300 sqft provides ample space
- Year built: 2008
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,215
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,264,300
$1.3M
Cap Rate 7%
$903,071
$903.1K
Cap Rate 9%
$702,389
$702.4K
Market Conditions
NOI Build-Up for 9,300 SF
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.
Gross rent
$94.9K $10.20/SF
− Vacancy
−$4.6K −$0.49/SF
EGI
$90.3K $9.71/SF
− OpEx
−$27.1K −$2.91/SF
NOI
$63.2K $6.80/SF
Area
South Bend, IN
Vacancy
4.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,264,300
Cap Rate 7%
$903,071
Cap Rate 9%
$702,389
Alternative Uses
Best Use
Warehouse
$1.04M
$905.9K – $1.21M
NOI $72,473 @ 7.0% cap · market cap 10.08%
Second Best
Industrial
$903.1K
$790.2K – $1.05M
NOI $63,215 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,695 @ 7.0% cap · market cap 22.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46628, IN
27,011
Population
12,266
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
92%
High-School Grad
34.2 sq mi
ZIP Area
790
Density / Sq Mi
$56,889
Median Household Income
$37,423
Median Earnings
$1,068
Median Rent
$164,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- AAA Mini Storage — 3303 Portage Ave, South Bend, IN 46628
- Business Furnishings LLC — 4102 Meghan Beeler Ct, South Bend, IN 46628
Frequently Asked Questions
What type of property is this?
Warehouse - 9,300 SqFt industrial warehouse available for purchase.
Where is this warehouse located?
The property is located at 3303 William Richardson Ct South Bend, IN.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Industrial property; 9,300 sqft provides ample space; Year built: 2008
