Remodeled Mixed-Use Retail
For Sale
Contact for pricing
345 347 Lincolnway W, South Bend, IN 46601
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 Market113
Property Features for 345 347 Lincolnway W
General Information
Standard status
Active
Size
6,336 SF
Property subtype
RETAIL
Zoning
NC
Site & Location
Neighborhood
Nearnorthwest
Building Details
Year Renovated
2024
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 26
Last Checked: Oct 26 at 6:45PM
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 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
Estimated NOI and Cap Rate
NOI / Yr
$62,270
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,245,400
$1.2M
Cap Rate 7%
$889,571
$889.6K
Cap Rate 9%
$691,889
$691.9K
Market Conditions
NOI Build-Up for 6,336 SF
Gross rent
$95.0K $15.00/SF
− Vacancy
−$6.1K −$0.96/SF
EGI
$89.0K $14.04/SF
− OpEx
−$26.7K −$4.21/SF
NOI
$62.3K $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%
$1,245,400
Cap Rate 7%
$889,571
Cap Rate 9%
$691,889
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,996
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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
