608 Main St Mishawaka, IN 46545

This exceptional mixed-use property in vibrant downtown Mishawaka presents a compelling investment or redevelopment opportunity. The 15,534 square foot building, constructed in 1922 and boasting a Class B rating, is situated on a 0.27-acre lot encompassing three parcels and includes an adjacent parking lot with convenient alley access. Currently 100% leased, the property features a ground-floor retail space occupied by Hometown Pharmacy and five apartments on the upper level, generating a substantial net operating income (NOI) of $133,625 and a 10.29% cap rate. Recent improvements include a new roof (2021), new ceilings and insulation, and a new maintenance-free metal siding. The property benefits from a prime location, just half a block from the heavily trafficked intersection of N Main Street (25,000 cars daily) and Mishawaka Avenue (10,000 cars daily, per INDOT traffic counts), and is adjacent to the newly constructed Inova Federal Credit Union. Its proximity to the Mishawaka Riverwalk, the burgeoning Ironworks Plaza and The Mill apartments (including Mishawaka Public House, Sun King Brewery, and Social Cantina), and the soon-to-open Avalon Apartments ensures strong tenant demand and future appreciation. Furthermore, the property enjoys convenient access to major roadways, including the Main Street/Grape Road shopping corridor (2 miles), IN-331/Capital Avenue (2.5 miles), and the University of Notre Dame (5 miles). The property is zoned C-1 Commercial and has a 2023 total tax assessment of $9,034.54. This is a rare opportunity to acquire a well-maintained, high-performing asset in a rapidly developing area. The asking price is $1,299,000, representing a price per square foot of $83.62.