Flexible Multi-Level Flex
907 S 31st St, South Bend, IN 46615
For Sale
$250,000
Open commercial layout includes a kitchen, restrooms, and separate entry points on each level.
Property Size2,677 SF
Price / SF$93.39
Days on Market95
Property Features for 907 S 31st St
General Information
Standard status
Size
Site & Location
Neighborhood
Building Details
Year Built
Stories
Listing Agency:
Coldwell Banker Realty
Listed By:
Ashley Hairston
(574) 383-4027
Source:
Kmsrealestategroup
Added: Aug 8
Changed: Nov 8
Last Checked: Nov 8 at 8:40AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This multi-level flex space in South Bend combines an open commercial area with supporting rooms and building amenities. The main floor includes approximately 1,400 sq. ft. of open space, a kitchen, and two restrooms with separate stalls. Separate entryways on both levels support different access arrangements.
The basement is configured with 11 rooms and additional bathrooms, creating substantial interior flexibility for offices, storage, or other commercial functions. The property also includes secluded parking and a new rubber roof. Located at 907 S 31st St in the River Park area, the building offers more than 2,000 sq. ft. of commercial space across its levels.
The basement is configured with 11 rooms and additional bathrooms, creating substantial interior flexibility for offices, storage, or other commercial functions. The property also includes secluded parking and a new rubber roof. Located at 907 S 31st St in the River Park area, the building offers more than 2,000 sq. ft. of commercial space across its levels.
Key Highlights
- More than 2,000 sq. ft. commercial building at 907 S 31st St, South Bend, IN
- Approximately 1,400 sq. ft. of open main‑floor space
- Basement configured with 11 rooms and additional bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,568
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,360
$431.4K
Cap Rate 7%
$308,114
$308.1K
Cap Rate 9%
$239,644
$239.6K
Market Conditions
NOI Build-Up for 2,677 SF
Gross rent
$35.3K $13.20/SF
− Vacancy
−$2.2K −$0.81/SF
EGI
$33.2K $12.39/SF
− OpEx
−$11.6K −$4.34/SF
NOI
$21.6K $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 Rate 5%
$431,360
Cap Rate 7%
$308,114
Cap Rate 9%
$239,644
Alternative Uses
Best Use
Flex RnD
$308.1K
$269.6K – $359.5K
NOI $21,568 @ 7.0% cap · market cap 8.63%
Second Best
Industrial
$259.9K
$227.5K – $303.3K
NOI $18,196 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$677.2K
$592.6K – $790.1K
NOI $47,407 @ 7.0% cap · market cap 18.96%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 46615, IN
14,777
Population
7,234
Households
2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
4,478
Density / Sq Mi
$57,983
Median Household Income
$39,744
Median Earnings
$971
Median Rent
$127,800
Median Home Value
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Market
Properties on Market for Flex space in South Bend
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Faulkner's Catering — 1020 Logan St, Mishawaka, IN 46545
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial layout includes a kitchen, restrooms, and separate entry points on each level.
Where is this flex space located?
The property is located at 907 S 31st St South Bend, IN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: More than 2,000 sq. ft. commercial building at 907 S 31st St, South Bend, IN; Approximately 1,400 sq. ft. of open main‑floor space; Basement configured with 11 rooms and additional bathrooms
