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    2502 Michigan St South Bend, IN 46614

    Sponsored
    For Sale
    $110,000

    Prime .24-acre lot, ideal for commercial development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional .24-acre commercial lot, located at 2502 S Michigan St, South Bend, Indiana (APN: 71-08-24-128-001.000-026 & 71-08-24-128-002.000-026), presents a unique investment opportunity. Situated on the corner of South Michigan and Victoria Streets, this property benefits from high visibility and traffic flow in a bustling commercial area. Previously utilized as a car sales lot, the site currently includes existing buildings. The property boasts convenient access to essential utilities, including gas, water, storm sewer, curb, sanitary sewer, phone, and electricity, along with a sidewalk. Its strategic location on the south side of South Bend ensures strong potential for various commercial ventures. The asking price has been significantly reduced, making this an attractive proposition for savvy investors seeking a prime location with existing infrastructure. This is a chance to acquire a well-positioned commercial lot in a thriving business district. The property's zoning is designated as Commercial, allowing for a wide range of development possibilities.

    Property Features for 2502 Michigan St

    General Information

    Property type
    Land
    Lot Size
    10,454 SF

    HighLights

    • Reduced list price.
    • Former used car lot on a busy intersection.
    • Located on South Bend's south side.
    Property Profile Location Intelligence

    Current Use by Public Records

    Eagle Motors Used Car Dealer

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.24972915
    Latitude
    41.64873436

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    FAQs

    What type of property is this?
    Land - Prime .24-acre lot, ideal for commercial development.
    Where is this land located?
    The property is located at 2502 Michigan St South Bend, IN.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: Reduced list price.; Former used car lot on a busy intersection.; Located on South Bend's south side.
    (269) 699-5502
    Request Owner's contact information
    2502 Michigan St South Bend, IN 46614
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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

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    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
    2502 Michigan St South Bend, IN 46614
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