Mishawaka Medical Office Investment
For Sale
Contact for pricing
3730 Edison Lakes Pkwy, Mishawaka, IN
Leased medical office space with long-term tenant commitment.
Property Size6,706 SF
Lot Size1.22 Acres
Price / SF$132.52
Days on Market1133
Property Features for 3730 Edison Lakes Pkwy
General Information
Standard status
Active
Size
6,706 SF
Lot size
1.22 Acres
Property subtype
OFFICE
Listing Agency:
Matthews Real Estate Investment Services
(866) 889-0550
Listed By:
Kyle Mackulak · License #02055597(CA)
(262) 672-8388
Source:
Moodyscre
Added: Sep 22, 2023
Changed: Oct 25
Last Checked: Oct 28 at 11:40AM
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 Matthews Real Estate Investment Services
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 6,706 square foot property is located at 3730 Edison Lakes Pkwy in Mishawaka, IN. The property is currently leased to a tenant in the autism spectrum disorder therapeutics market. The tenant has recently committed to a 5-year lease term, extending from January 2023 to December 2027, demonstrating a commitment to the location. Autism therapy practices tend to remain in place due to patient retention and moving costs.
Key Highlights
- Tenant secured with a new 5‑year lease running through December 2027.
- Autism Therapy practices rarely relocate, ensuring stable tenancy.
- Patient retention challenges make relocation difficult for this type of business.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,550
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,111,000
$1.1M
Cap Rate 7%
$793,571
$793.6K
Cap Rate 9%
$617,222
$617.2K
Market Conditions
NOI Build-Up for 6,706 SF
Gross rent
$95.0K $14.16/SF
− Vacancy
−$20.9K −$3.12/SF
EGI
$74.1K $11.04/SF
− OpEx
−$18.5K −$2.76/SF
NOI
$55.5K $8.28/SF
Area
St. Joseph County, IN
Vacancy
22.00%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,111,000
Cap Rate 7%
$793,571
Cap Rate 9%
$617,222
Alternative Uses
Best Use
Office B
$793.6K
$694.4K – $925.8K
NOI $55,550 @ 7.0% cap · market cap 6.25%
Second Best
Healthcare Medical
$652.2K
$570.7K – $760.9K
NOI $45,654 @ 7.0% cap · market cap 5.14%
Theoretical Best
Retail
$1.33M
$1.16M – $1.55M
NOI $93,085 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Mishawaka Animal Care Center — 129 W Edison Rd, Mishawaka, IN 46545
- Magrane Pet Medical Center — 3945 Edison Lakes Pkwy, Mishawaka, IN 46545
Frequently Asked Questions
What type of property is this?
Medical Office Space - Leased medical office space with long-term tenant commitment.
Where is this medical office space located?
The property is located at 3730 Edison Lakes Pkwy Mishawaka, IN.
What is the asking price?
The asking price for this property is $888,659.
What are key features of this property?
This property features: Tenant secured with a new 5‑year lease running through December 2027.; Autism Therapy practices rarely relocate, ensuring stable tenancy.; Patient retention challenges make relocation difficult for this type of business.
