Credit Union Branch For
3404 Boland Dr South Bend, IN 46628
3404 Boland Dr, South Bend, IN, 46628
Contact for pricing
For Sale
Contact for pricing
Credit Union branch with drive-thru in Airport Industrial Park.
Property Size2,250 SF
Price / SF$108.89
Days on Market773
Property Features for 3404 Boland Dr
General Information
- Standard status
- Active
- Size
- 2,250 SF
- Property subtype
- Office
Building Details
- Year Built
- 1979
Listing Agency
NAI Cressy - Mishawaka
(574) 485-1520
Listed by
Shawn Todd · License #IN RB14043602
Source
Crexi
Added: Jun 4, 2024 Checked: Jul 16 at 11:45 am
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 - Mishawaka
Investment Insights
Based on property information with market context.
This property is a current credit union branch, featuring a lobby, teller line, three private offices, a break room, and a restroom. It includes a one-lane drive behind the building, previously used as a drive-thru lane. The property offers ample acreage for potential expansion or further development. It is situated in the Airport Industrial Park, specifically within the Blackthorn Development area, located off Bendix Drive on South Bend’s northwest side. The property is well-positioned in the Boland/Kenmore Drive industrial park, proximal to many small businesses and a Meijer shopping center. The building size is 2,250 square feet.
Key Highlights
- Ample acreage for expansion/development.
- Located in the Airport Industrial Park - Blackthorn Development area.
- Existing building suitable for immediate use (former Credit Union branch).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.8k | $15.00 |
| − Vacancy | −$2.2k | −$0.96 |
| EGI | $31.6k | $14.04 |
| − OpEx | −$9.5k | −$4.21 |
| NOI | $22.1k | $9.83 |
2,250 SF · lease $15.00/SF/yr · vacancy 6.40% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$370.2K
$324.0K – $431.9K
NOI $25,916 @ 7.0% cap · market cap 10.58%
Second Best
Retail
$315.9K
$276.4K – $368.6K
NOI $22,113 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$569.2K
$498.1K – $664.1K
NOI $39,846 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Imeco Federal Credit ...
Credit Union
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - Credit Union branch with drive-thru in Airport Industrial Park.
Where is this bank located?
The property is located at 3404 Boland Dr South Bend, IN.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Ample acreage for expansion/development.; Located in the Airport Industrial Park - Blackthorn Development area.; Existing building suitable for immediate use (former Credit Union branch).
