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    5946 Grape Rd Mishawaka, IN 46545

    Sponsored
    For Sale
    $3,000,000

    21,896 SF Retail Center, 100% Occupied

    Property size:
    21,896 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 21,896-square-foot retail shopping center in Mishawaka, Indiana, currently operating at 100% occupancy. Located at 5946 Grape Rd, this single-tenant property sits on a 1.97-acre lot (APN: 71-04-28-401-001.000-005) and is zoned C-2 Shopping Center. Built in 1987 and renovated in 2007, the building features a 20-foot ceiling height and one dock door. The property is part of the Indian Ridge Shopping Center, a thriving retail hub in the University Park Trade Area, boasting strong neighboring anchors such as TJ Maxx, Bed Bath & Beyond, Ashley Furniture, and Gabe's. Its prime location is directly across from the one-million-square-foot University Park Mall and within three miles of four million square feet of additional retail space, including major retailers like Hobby Lobby, Target, and Costco. The area also benefits from the proximity of St. Joseph Regional Medical Center, Edison Lakes Corporate Park, and the University of Notre Dame. The lease is a NNN (Net, Net, Net) agreement, with the landlord responsible for roof and structure maintenance, and the tenant covering all other expenses, including real estate taxes, common area maintenance, and insurance. The asking price is $3,000,000, representing a price per square foot of $141.58. This property offers a compelling investment opportunity in a high-demand retail area with significant growth potential.

    Property Features for 5946 Grape Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    21,896 SF
    Lot Size
    85,813 SF

    Building Details

    Year Built/Renovated
    1987/2007

    HighLights

    • 21,896 SF retail center in Mishawaka, IN, 100% occupied.
    • Located at 5946 Grape Rd, on a 1.97‑acre lot (APN: 71‑04‑28‑401‑001.000‑005), C‑2 zoning.
    • Built in 1987, renovated in 2007, features 20‑foot ceilings and one dock door.
    • Part of the Indian Ridge Shopping Center, near TJ Maxx, Bed Bath & Beyond, Ashley Furniture, and Gabe's.
    • Across from University Park Mall (1M SF) and within 3 miles of 4M SF of additional retail space (including Target, Costco, Hobby Lobby).
    • NNN lease; landlord responsible for roof and structure; tenant covers all other expenses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Big Sandy Superstore Furniture Store

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Mishawaka
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.1868571
    Latitude
    41.7153682

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    FAQs

    What type of property is this?
    Lifestyle center - 21,896 SF Retail Center, 100% Occupied
    Where is this lifestyle center located?
    The property is located at 5946 Grape Rd Mishawaka, IN.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: 21,896 SF retail center in Mishawaka, IN, 100% occupied.; Located at 5946 Grape Rd, on a 1.97-acre lot (APN: 71-04-28-401-001.000-005), C-2 zoning.; Built in 1987, renovated in 2007, features 20-foot ceilings and one dock door.
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    Realmo Value Estimation

    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

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    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.

    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
    5946 Grape Rd Mishawaka, IN 46545
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