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Property profile & analytics
FOR SALE
Retail space

608 N Main St Mishawaka, IN 46545

10,134 SF 0.13 ac lot Built 1922
Entity Owned Absentee Owner ~ Est. High Equity
Property ID
US31-2336152
Property summary
AI-generated overview

This exceptional commercial property, located at 608 N Main Street in Mishawaka, Indiana, presents a fantastic investment or redevelopment opportunity. Situated in the thriving downtown area, this property benefits from its proximity to the newly constructed Inova Federal Credit Union and enjoys exceptional visibility due to its 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). The building is currently fully occupied, featuring Hometown Pharmacy on the ground floor and five apartments on the upper levels. Recent improvements include a new roof (2021), new ceilings and insulation, and a new maintenance-free metal siding facing the Inova Credit Union. The sale includes an adjacent parking lot with convenient alley access. The property comprises three parcels totaling 0.27 acres (see aerial). Its prime location offers excellent visibility and proximity to the Mishawaka Riverwalk, across Mishawaka Avenue. Furthermore, it's a short distance (0.2 miles) from the newly developed Ironworks Plaza and The Mill apartments, which house the Mishawaka Public House, Sun King Brewery, and Social Cantina. Future development in the area includes The Mill Phase II and the soon-to-open Avalon Apartments. Convenient access to major roadways is also a key advantage, with the Main Street/Grape Road Shopping Corridor (2 miles, 6 minutes), IN-331/Capital Avenue (2.5 miles, 7 minutes), and the University of Notre Dame (5 miles, 15 minutes) all within easy reach. The property is zoned C-1 (Commercial) and has a total tax assessment of $9,034.54 for 2023 across all three parcels.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1922
Construction WOOD
Total area 10,134 SF
Lot 0.13 ac (5,742 SF)
APN 71-09-09-485-007.000-023
UPID US31-2336152
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Owner & transaction history
Rasmussen Re Mishawaka LLC
Rasmussen Re Mishawaka LLC
since 2026
1 recorded transaction
2026
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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