Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Mishawaka Plaza Title is generated by Realmo AI

    5514-5540 Grape Rd, Mishawaka, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in a busy Mishawaka shopping center.

    Type:RETAIL
    Property size:
    6,141 SF
    Lot size:
    33.78 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    178
    Last Refresh:
    Apr 5 at 9:03 pm

    Property Features for 5514-5540 Grape Rd

    General Information

    Standard status
    Active
    Size
    6,141 SF
    Lot size
    33.78 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 5514-5540 Grape Rd Contact us

    We can help!

    Listing Contact
    Timothy J. Mehall
    Timothy J. Mehall

    Listing agent Timothy J. Mehall

    Listing office NAI Cressy Commercial Real Estate - Corporate

    Listing date Nov 24, 2025

    Source Moodyscre

    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

    HighLights

    • Anchored by Burlington Coat Factory, Jo Ann Stores, Fresh Thyme, and Hobby Lobby.
    • Located on the southeast quadrant of I‑90 and Grape Road.
    • Located in Mishawaka, Indiana.
    • 355,009 square foot shopping center.
    • Trade area of over 300,000.
    • Located on Grape Road corridor, a strong regional retail hub.

    Overview

    Located on the southeast quadrant of I-90 and Grape Road in Mishawaka, Indiana, Wilshire Plaza is a shopping center anchored by Burlington Coat Factory, Jo Ann Stores, Fresh Thyme, and Hobby Lobby. The shopping center has a total area of 355,009 square feet. Situated on the Grape Road corridor, the property benefits from a trade area of over 300,000. The available retail space is 6,141 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Wilshire Plaza of Mishawaka — 5520 Grape Rd, Mishawaka, IN 46545
    • Princess City Plaza — 4410 Grape Rd, Mishawaka, IN 46545
    • Quick-Tag — Meijer, 5020 Grape Rd, Mishawaka, IN 46545
    • Main Street Marketplace — 5335 N Main St, Mishawaka, IN 46545
    • Indian Ridge Plaza of Mishawaka — 5948 Grape Rd, Mishawaka, IN 46545

    Location Insight

    • Map
    • Local Demand
    City
    Mishawaka
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.1866
    Latitude
    41.7105

    Nearby Similar for Lease

    • $22 SF/Yr
      1,425 SF

      Class A Office Space Available

      Professionally managed office space with ample parking in Mishawaka, IN.
      4215 Edison Lakes Pky., Mishawaka, IN 46545
      View Details
    • $15 SF/Yr
      8,348 SF

      Class A Office Space Available

      Office suites available for lease in Edison Lakes Corporate Park.
      3838 N. Main St., Mishawaka, IN 46545
      View Details
    • $21 SF/Yr
      1,806 SF

      Mishawaka Office Space For Rent

      Class A office space with scenic views and ample parking.
      3625 Park Pl W, Mishawaka, IN
      View Details
    • $12 SF/Yr
      30,000 SF

      Retail Center Near Notre Dame

      30,000 SF shopping center near University of Notre Dame.
      4110 Grape Rd., Mishawaka, IN 46545
      View Details
    • $12 SF/Yr
      3,500 SF

      Retail Space in High-Traffic Area

      3,500 SF retail space near Notre Dame and medical campus.
      4110-4150 Grape Rd, Mishawaka, IN
      View Details
    • $4 SF/Yr
      13,972 SF

      Mishawaka Industrial Warehouse For Rent

      Industrial warehouse space available for lease in Mishawaka, Indiana.
      1017 Logan St, Mishawaka, IN
      View Details
    • $5 SF/Yr

      Prime Retail Space on Grape

      Retail space in high-traffic area with showroom and storage.
      3602 Grape Rd, Mishawaka, IN 46545
      View Details
    • $21 SF/Yr

      Premier Class A Office Suites

      Class A office suites in a professionally managed building.
      4101 Edison Lakes Pky., Mishawaka, IN 46545
      View Details
    • Contact for pricing
      995 SF

      Retail Space in Mishawaka Plaza

      Retail space available in a busy shopping center.
      5604-5668 Grape Rd, Mishawaka, IN
      View Details
    • Contact for pricing

      Downtown Mishawaka Office Space

      Office space in downtown Mishawaka near Riverwalk.
      804 N Main St, Mishawaka, IN 46545
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space Available For Rent

      Single tenant retail space available for rent, 2,800 SqFt.
      4615 Grape Rd, Mishawaka, IN 46545
      View Details
    • Contact for pricing
      2,520 SF

      Mishawaka Office and Retail Space

      Single tenant office and retail space available for rent.
      220 W Edison Rd, Mishawaka, IN 46545
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in a busy Mishawaka shopping center.
    Where is this shopping center located?
    The property is located at 5514-5540 Grape Rd Mishawaka, IN.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Anchored by Burlington Coat Factory, Jo Ann Stores, Fresh Thyme, and Hobby Lobby.; Located on the southeast quadrant of I‑90 and Grape Road.; Located in Mishawaka, Indiana.
    (574) 485-1516 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Timothy J. Mehall
    Timothy J. Mehall
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5514-5540 Grape Rd, Mishawaka, IN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!