Class A Office
New
For Sale
Contact for pricing
3830 Edison Lakes Pkwy, Mishawaka, IN 46545
Professionally maintained office property with private offices, conference space, natural light, and C-1 zoning.
Property Size5,376 SF
Price / SF$139.51
Days on Market7
Property Features for 3830 Edison Lakes Pkwy
General Information
Standard status
Active
Size
5,376 SF
Class
A
Total Parking Spaces
28
Elevators
No
Property subtype
Office
Zoning
C-1
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
shared pond with fountain
walking paths
meticulously landscaped grounds
Building Details
Year Built
1987
Buildings
1
Stories
2
Building Size
5,376 SF
Listing Agency:
NAI Cressy - Mishawaka
(574) 485-1520
Listed By:
Shawn Todd · License #IN RB14043602
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 5:49PM
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 - Mishawaka
Investment Insights
Based on property information with market context.
This 5,376 SF Class A office building provides a two-level professional workspace within Edison Lakes Corporate Park. The first floor contains 3,072 SF and the second floor adds 2,304 SF, with the levels connected by an interior stairwell and no elevator. Private offices, a reception area, conference room, quality finishes, and abundant windows create a functional setting for office operations. The building was constructed in 1987 and includes 28 private parking spaces.
The property is situated on Edison Lakes Pkwy in Mishawaka, with access to Main Street, Douglas Road, and the Capital Avenue corridor. The Indiana Toll Road (I-80/90), US 20 Bypass, and the University of Notre Dame are minutes away. The corporate park includes mature landscaping, shared ponds with a fountain, walking paths, and nearby restaurants, hotels, retail centers, and other business amenities.
The property is situated on Edison Lakes Pkwy in Mishawaka, with access to Main Street, Douglas Road, and the Capital Avenue corridor. The Indiana Toll Road (I-80/90), US 20 Bypass, and the University of Notre Dame are minutes away. The corporate park includes mature landscaping, shared ponds with a fountain, walking paths, and nearby restaurants, hotels, retail centers, and other business amenities.
Key Highlights
- 5,376 SF office building with 3,072 SF on the first floor and 2,304 SF on the second floor
- Class A office property within Edison Lakes Corporate Park
- 28 private parking spaces included
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
$44,533
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
5.94%
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%
$890,660
$890.7K
Cap Rate 7%
$636,186
$636.2K
Cap Rate 9%
$494,811
$494.8K
Market Conditions
NOI Build-Up for 5,376 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
$76.1K $14.16/SF
− Vacancy
−$16.7K −$3.12/SF
EGI
$59.4K $11.04/SF
− OpEx
−$14.8K −$2.76/SF
NOI
$44.5K $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 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%
$890,660
Cap Rate 7%
$636,186
Cap Rate 9%
$494,811
Alternative Uses
Best Use
Office B
$636.2K
$556.7K – $742.2K
NOI $44,533 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.07M
$932.8K – $1.24M
NOI $74,624 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 46545, IN
26,312
Population
13,046
Households
2
Avg Household Size
37
Median Age
31%
College-Educated
94%
High-School Grad
18.3 sq mi
ZIP Area
1,438
Density / Sq Mi
$55,889
Median Household Income
$36,999
Median Earnings
$986
Median Rent
$174,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professionally maintained office property with private offices, conference space, natural light, and C-1 zoning.
Where is this office building located?
The property is located at 3830 Edison Lakes Pkwy Mishawaka, IN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,376 SF office building with 3,072 SF on the first floor and 2,304 SF on the second floor; Class A office property within Edison Lakes Corporate Park; 28 private parking spaces included
