Remodeled Retail Store with Walk-In
For Sale
$900,000
823 Union St, Mishawaka, IN 46544
Remodeled retail space with existing shelving, refrigeration, and a walk-in cooler included, plus paved parking.
Property Size2,362 SF
Price / SF$381.03
Days on Market96
Property Features for 823 Union St
General Information
Standard status
Active
Size
2,362 SF
Building Details
Year Built
1978
Listing Agency:
Berkshire Hathaway HomeServices Elkhart
Listed By:
Lori Snyder · License #RB14022203
(574) 849-5886
Source:
Spencerchildersgroup
Added: Jul 15
Changed: Oct 7
Last Checked: Oct 7 at 1:40PM
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 Elkhart
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Investment Insights
Based on property information with market context.
This sale offers a remodeled retail store currently set up for a popular liquor business, with interior improvements already completed. The space includes existing shelving and refrigeration equipment, and the walk-in cooler is stated to stay with the property.
The property is described as having easy in-and-out access and lots of paved parking, supporting day-to-day customer traffic.
Offered as real estate only, the configuration is also suggested in the remarks as suitable for a neighborhood grocery or general retail store, depending on an operator’s needs.
The property is described as having easy in-and-out access and lots of paved parking, supporting day-to-day customer traffic.
Offered as real estate only, the configuration is also suggested in the remarks as suitable for a neighborhood grocery or general retail store, depending on an operator’s needs.
Key Highlights
- Remodeled retail space with existing shelving, refrigeration, and walk‑in cooler included
- Walk‑in cooler stays with the property
- Includes shelving and refrigeration systems for immediate use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,787
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,740
$655.7K
Cap Rate 7%
$468,386
$468.4K
Cap Rate 9%
$364,300
$364.3K
Market Conditions
NOI Build-Up for 2,362 SF
Gross rent
$51.9K $21.96/SF
− Vacancy
−$5.0K −$2.13/SF
EGI
$46.8K $19.83/SF
− OpEx
−$14.1K −$5.95/SF
NOI
$32.8K $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%
$655,740
Cap Rate 7%
$468,386
Cap Rate 9%
$364,300
Alternative Uses
Best Use
Retail
$468.4K
$409.8K – $546.5K
NOI $32,787 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
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
699
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Remodeled retail space with existing shelving, refrigeration, and a walk-in cooler included, plus paved parking.
Where is this retail space located?
The property is located at 823 Union St Mishawaka, IN.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Remodeled retail space with existing shelving, refrigeration, and walk‑in cooler included; Walk‑in cooler stays with the property; Includes shelving and refrigeration systems for immediate use
