Food Processing and Flex
For Sale
$625,000
58413 Crumstown Hwy, South Bend, IN 46619
Purpose-built former meat market with flexible interior layout for food production, retail, light industrial, storage, or manufacturing.
Property Size6,000 SF
Lot Size5.00 Acres
Price / SF$104.17
Days on Market158
Property Features for 58413 Crumstown Hwy
General Information
Standard status
Active
Size
6,000 SF
Lot size
5.00 Acres
Taxes and HOA fees
Annual Taxes
$12,140
Building Details
Year Built
2002
Listing Agency:
Berkshire Hathaway HomeServices Northern Indiana Real Estate
Listed By:
Dawn Martin · License #RB24001625
(574) 532-2841
Source:
Exprealty
Added: Apr 3
Changed: Aug 20
Last Checked: Sep 6 at 1:31PM
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 Berkshire Hathaway HomeServices Northern Indiana Real Estate
Investment Insights
Based on property information with market context.
This purpose-built former meat market and butcher facility was built in 2002 and offers a flexible interior layout designed to support food production, retail operations, light industrial use, storage and distribution, and/or special manufacturing. The building is described as solidly constructed, and building contents from the former butcher are available for purchase separately, with an inventory list available to interested buyers.
The property includes ample on-site parking and is situated on a 5-acre parcel, providing room for expansion. The offering also notes a large lot with development potential and adaptability for other commercial uses.
The property includes ample on-site parking and is situated on a 5-acre parcel, providing room for expansion. The offering also notes a large lot with development potential and adaptability for other commercial uses.
Key Highlights
- 6,000 SF purpose‑built former meat market/butcher facility built in 2002
- Flexible interior layout for food production, retail, light industrial use, storage/distribution, and/or special manufacturing
- Solid construction with room for expansion on a 5‑acre parcel
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
$48,340
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
7.73%
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%
$966,800
$966.8K
Cap Rate 7%
$690,571
$690.6K
Cap Rate 9%
$537,111
$537.1K
Market Conditions
NOI Build-Up for 6,000 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
$79.2K $13.20/SF
− Vacancy
−$4.8K −$0.81/SF
EGI
$74.4K $12.39/SF
− OpEx
−$26.0K −$4.34/SF
NOI
$48.3K $8.06/SF
Area
South Bend, IN
Vacancy
6.10%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$966,800
Cap Rate 7%
$690,571
Cap Rate 9%
$537,111
Alternative Uses
Best Use
Specialty Retail
$987.3K
$863.9K – $1.15M
NOI $69,109 @ 7.0% cap · market cap 11.06%
Second Best
Retail
$842.4K
$737.1K – $982.8K
NOI $58,968 @ 7.0% cap · market cap 9.43%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,255 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46619, IN
20,527
Population
8,823
Households
2.3
Avg Household Size
36
Median Age
14%
College-Educated
80%
High-School Grad
23.5 sq mi
ZIP Area
873
Density / Sq Mi
$46,679
Median Household Income
$31,948
Median Earnings
$944
Median Rent
$98,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Purpose-built former meat market with flexible interior layout for food production, retail, light industrial, storage, or manufacturing.
Where is this flex space located?
The property is located at 58413 Crumstown Hwy South Bend, IN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 6,000 SF purpose‑built former meat market/butcher facility built in 2002; Flexible interior layout for food production, retail, light industrial use, storage/distribution, and/or special manufacturing; Solid construction with room for expansion on a 5‑acre parcel
