Remodeled Mixed-Use Retail
345 347 Lincolnway W South Bend, IN 46601
For Sale
Contact for pricing
Recently remodeled mixed-use property features first-floor retail on a 10-year lease with Rug Imports.
Property Size6,336 SF
Price / SF$110.48
Days on Market22
Property Features for 345 347 Lincolnway W
General Information
Standard status
Active
Size
6,336 SF
Property subtype
RETAIL
Listing Agency:
NAI Cressy Commercial Real Estate - Corporate
(574) 485-1534
Listed By:
Christian Davey
(574) 485-1534
Source:
Moodyscre
Added: Jul 8
Changed: Jul 27
Last Checked: Jul 28 at 4:17PM
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
Investment Insights
Based on property information with market context.
This recently remodeled mixed-use property was updated in 2024 and includes first-floor retail space under a 10-year lease with Rug Imports. The offering can be leased as separate suites, including Suite A at 1,250 SF or Suite B at 1,500 SF and up, with an option to combine space up to 8,050 SF by using the first floor of the 345 LWW and adjacent 341/343 LWW. Basement storage is available but not included in the stated square footage.
The property is zoned NC, Neighborhood Center. It is described as being located in the heart of a cluster of downtown South Bend development projects.
Retail space is supported by a flexible suite structure that accommodates smaller or combined occupancy sizes, depending on the selected configuration.
The property is zoned NC, Neighborhood Center. It is described as being located in the heart of a cluster of downtown South Bend development projects.
Retail space is supported by a flexible suite structure that accommodates smaller or combined occupancy sizes, depending on the selected configuration.
Key Highlights
- Recently remodeled 2024 mixed‑use investment property with first‑floor retail
- First‑floor retail on a 10‑year lease with Rug Imports
- NC- Neighborhood Center zoning
Financial Insights For Retail
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 | $95.0k | $15.00 |
| − Vacancy | −$6.1k | −$0.96 |
| EGI | $89.0k | $14.04 |
| − OpEx | −$26.7k | −$4.21 |
| NOI | $62.3k | $9.83 |
6,336 SF · lease $15.00/SF/yr · vacancy 6.40% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.38M
NOI $83,027 @ 7.0% cap · market cap 11.86%
Second Best
Mixed Use
$1.00M
$877.2K – $1.17M
NOI $70,175 @ 7.0% cap · market cap 10.03%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,205 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Recently remodeled mixed-use property features first-floor retail on a 10-year lease with Rug Imports.
Where is this retail space located?
The property is located at 345 347 Lincolnway W South Bend, IN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Recently remodeled 2024 mixed‑use investment property with first‑floor retail; First‑floor retail on a 10‑year lease with Rug Imports; NC- Neighborhood Center zoning
