Renovated Creative Space with Glass Garage
For Sale
Contact for pricing
543 Lincolnway West, Mishawaka, IN 46544
Updated commercial setting with a convertible gathering room and operable glass garage door.
Property Size944 SF
Price / SF$179.03
Days on Market54
Property Features for 543 Lincolnway West
General Information
Standard status
Active
Size
944 SF
Class
A
Property subtype
Retail, Office
Building Details
Year Built
1894
Listing Agency:
Northern Indiana Real Estate Mishawaka
Listed By:
Joe Grabill · License #IN RB14033276
(574) 284-2610
Source:
Crexi
Added: Aug 25
Changed: Oct 2
Last Checked: Oct 16 at 8:26AM
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 Northern Indiana Real Estate Mishawaka
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Investment Insights
Based on property information with market context.
Located at 543 Lincolnway West in Mishawaka, Indiana, this fully renovated creative space combines a modern interior with distinctive original elements. The property includes a converted garage configured as a conference or gathering room, while the existing glass garage door remains operational and brings natural light into the space. The door can also open the room toward the outdoors.
The flexible layout can support professional office functions, counseling or therapy services, insurance operations, boutique retail, studio work, pottery, or other creative business concepts. Built in 1894, the property offers a character-rich setting for an owner-user or business seeking a space that can serve both workplace and customer-facing needs.
The flexible layout can support professional office functions, counseling or therapy services, insurance operations, boutique retail, studio work, pottery, or other creative business concepts. Built in 1894, the property offers a character-rich setting for an owner-user or business seeking a space that can serve both workplace and customer-facing needs.
Key Highlights
- Fully renovated commercial creative space
- Converted garage provides a conference or gathering room
- Functional glass garage door adds natural light and outdoor connection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,104
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,080
$262.1K
Cap Rate 7%
$187,200
$187.2K
Cap Rate 9%
$145,600
$145.6K
Market Conditions
NOI Build-Up for 944 SF
Gross rent
$20.7K $21.96/SF
− Vacancy
−$2.0K −$2.13/SF
EGI
$18.7K $19.83/SF
− OpEx
−$5.6K −$5.95/SF
NOI
$13.1K $13.88/SF
Area
St. Joseph County, IN
Vacancy
9.70%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,080
Cap Rate 7%
$187,200
Cap Rate 9%
$145,600
Alternative Uses
Best Use
Retail
$187.2K
$163.8K – $218.4K
NOI $13,104 @ 7.0% cap · market cap 7.75%
Second Best
Office B
$111.7K
$97.8K – $130.3K
NOI $7,820 @ 7.0% cap · market cap 4.63%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 46544, IN
31,571
Population
13,661
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
39.8 sq mi
ZIP Area
793
Density / Sq Mi
$57,873
Median Household Income
$40,120
Median Earnings
$1,018
Median Rent
$151,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Creative space - Updated commercial setting with a convertible gathering room and operable glass garage door.
Where is this creative space located?
The property is located at 543 Lincolnway West Mishawaka, IN.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Fully renovated commercial creative space; Converted garage provides a conference or gathering room; Functional glass garage door adds natural light and outdoor connection
