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    822 Mckinley Ave Mishawaka, IN 46545

    Sponsored
    For Lease
    $6 SF/Yr

    Prime Mishawaka retail space, single tenant.

    Lot size:
    80,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    425
    This exceptional retail property, located at 822 W McKinley Ave in Mishawaka, Indiana, 46545, presents a unique investment opportunity. The property is classified as a single-tenant retail space, offering flexibility for a variety of businesses. The available space ranges from a generous 1,000 square feet to a substantial 80,000 square feet, catering to businesses of diverse sizes and needs. Its strategic location in Mishawaka provides excellent visibility and accessibility, ensuring high foot traffic and potential customer reach. The property's precise geographic coordinates are 41.68188234668409 latitude and -86.1942118398661 longitude. This adaptable space is ideal for businesses seeking a prominent presence in a thriving Indiana community. The property type is explicitly retail, making it suitable for a wide range of retail operations. Further details regarding specific lease terms and conditions are available upon request. This presents a compelling opportunity for businesses seeking a well-situated and versatile retail space in Mishawaka, Indiana. Contact us to learn more about this exceptional property and its potential to meet your business needs.

    Property Features for 822 Mckinley Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    80,000 SF

    Spaces For Lease

    at 822 Mckinley Ave, Mishawaka, IN 46545 Contact us
    Unit

    $17 /Mo

    Size
    80,000 SF
    Contact us

    We can help!

    Listing Contact
    Andy Knapick
    Andy Knapick

    Learn more

    Property Insight Report

    HighLights

    • Exceptional retail investment opportunity in a nearly fully‑leased, 350,000+ SF power center in Mishawaka, Indiana.
    • Prime location, 0.2 miles from Bethel University and 4.8 miles from the University of Notre Dame, with convenient public transportation.
    • High‑traffic intersection of McKinley Ave. & Hickory Rd., boasting over 31,000 ADT.
    • Low operating costs with estimated NNNs of $2.45/SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chuck E. Cheese Restaurant Buddy V's Cake ... Restaurant Pasqually's Pizza & Wings Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mishawaka
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.194211839866
    Latitude
    41.681882346684

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    FAQs

    What type of property is this?
    Retail property - Prime Mishawaka retail space, single tenant.
    Where is this retail property located?
    The property is located at 822 Mckinley Ave Mishawaka, IN.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Exceptional retail investment opportunity in a nearly fully-leased, 350,000+ SF power center in Mishawaka, Indiana.; Prime location, 0.2 miles from Bethel University and 4.8 miles from the University of Notre Dame, with convenient public transportation.; High-traffic intersection of McKinley Ave. & Hickory Rd., boasting over 31,000 ADT.
    Request Owner's contact information
    822 Mckinley Ave Mishawaka, IN 46545
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    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
    822 Mckinley Ave Mishawaka, IN 46545
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    We can help!
    Listing Contact
    Andy Knapick
    Andy Knapick
    Real Estate License ID: RB19002068
    Learn more
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