Remodeled Neighborhood Center Retail
For Sale
Contact for pricing
341-343 Lincoln Way W, South Bend, IN 46601
NC-zoned commercial space with recent remodeling and the ability to connect with adjacent space.
Property Size5,300 SF
Price / SF$112.26
Days on Market102
Property Features for 341-343 Lincoln Way W
General Information
Standard status
Active
Size
5,300 SF
Property subtype
RETAIL
Zoning
NC
Listing Agency:
NAI Cressy Commercial Real Estate - Corporate
(574) 271-4060
Listed By:
Christian Davey
(574) 485-1534
Source:
Moodyscre
Added: Jul 8
Changed: Oct 11
Last Checked: Oct 16 at 7:40AM
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 NAI Cressy Commercial Real Estate - Corporate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property at 341-343 Lincoln Way W in South Bend provides 5300 square feet of commercial space. The building underwent remodeling in 2025 and 2026, offering an updated setting for retail or other commercial use supported by the NC—Neighborhood Center zoning designation.
Additional space is available in the neighboring 345 Lincolnway W property under the same landlord. Combining the first floor of that building with 341-343 Lincolnway W could provide up to 8,050 SF, creating a larger connected footprint for an expanding commercial operation. The property is positioned in downtown South Bend.
Additional space is available in the neighboring 345 Lincolnway W property under the same landlord. Combining the first floor of that building with 341-343 Lincolnway W could provide up to 8,050 SF, creating a larger connected footprint for an expanding commercial operation. The property is positioned in downtown South Bend.
Key Highlights
- 5300 SF retail/commercial property at 341‑343 Lincoln Way W
- Remodeled in 2025 and 2026
- Zoned NC—Neighborhood Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,088
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,041,760
$1.0M
Cap Rate 7%
$744,114
$744.1K
Cap Rate 9%
$578,756
$578.8K
Market Conditions
NOI Build-Up for 5,300 SF
Gross rent
$79.5K $15.00/SF
− Vacancy
−$5.1K −$0.96/SF
EGI
$74.4K $14.04/SF
− OpEx
−$22.3K −$4.21/SF
NOI
$52.1K $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%
$1,041,760
Cap Rate 7%
$744,114
Cap Rate 9%
$578,756
Alternative Uses
Best Use
Retail
$744.1K
$651.1K – $868.1K
NOI $52,088 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,858 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,996
Businesses Nearby
78k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 16%
Hotels & Casinos 12%
Groceries 11%
McDonald's
Dining
24,546 visits/mo
0.3 miles
Burger King
Dining
13,202 visits/mo
0.2 miles
Taco Bell
Dining
9,932 visits/mo
0.1 miles
Save-A-Lot
Groceries
8,612 visits/mo
0.5 miles
DoubleTree by Hilton Hotel South Bend
Hotels & Casinos
6,144 visits/mo
0.3 miles
Demographics for 46601, IN
5,947
Population
2,862
Households
2.1
Avg Household Size
35
Median Age
22%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
2,974
Density / Sq Mi
$27,080
Median Household Income
$26,835
Median Earnings
$784
Median Rent
$131,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - NC-zoned commercial space with recent remodeling and the ability to connect with adjacent space.
Where is this retail space located?
The property is located at 341-343 Lincoln Way W South Bend, IN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 5300 SF retail/commercial property at 341‑343 Lincoln Way W; Remodeled in 2025 and 2026; Zoned NC—Neighborhood Center
