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    235 Michigan St South Bend, IN 46601

    For Sale
    $700,000

    Historic building, 22,810 SF retail space.

    Property size:
    22,810 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 22,810 square foot storefront, located at 235 S Michigan St in South Bend, Indiana, presents a compelling redevelopment opportunity. Built in 1925, this four-story historic building boasts multiple retail entrances on the ground floor, ideal for a variety of businesses. The upper three floors offer versatile space suitable for office, multifamily residential, storage, or other uses permitted within the DT-Downtown zoning district. The property sits on a 0.13-acre lot at a signalized intersection, ensuring high visibility and excellent foot traffic. Convenient street parking is available, supplemented by adjacent garage parking. Benefitting from low operating costs and property taxes, this "value-add" property is situated in the heart of downtown South Bend, within walking distance of county and city offices, financial institutions, hotels, restaurants, cafes, and residential complexes. Its prime location offers easy access to the University of Notre Dame, St. Mary's College, South Bend International Airport, US-31, and the I-80/90 Toll Road. The asking price is $700,000, translating to $30.69 per square foot. This is a rare chance to acquire a significant property in a thriving downtown area. The property's corner location at S. Michigan St. and Wayne St. provides unparalleled visibility and accessibility.

    Property Features for 235 Michigan St

    General Information

    Property type
    Individual retail properties
    Square Feet
    22,810 SF
    Lot Size
    5,663 SF

    Building Details

    Year Built
    1925

    HighLights

    • 22,810 SF storefront at 235 S Michigan St, South Bend, IN.
    • Four‑story, 1925 historic building with multiple ground‑floor retail entrances.
    • Versatile upper floors suitable for office, multifamily, or storage; DT‑Downtown zoning.
    • 0.13‑acre lot at a signalized intersection with high visibility and foot traffic; convenient street and garage parking.
    • Low operating costs and property taxes; prime downtown location near amenities and major transportation routes.
    • $700,000 asking price ($30.69/SF).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cambodian Thai Thai Restaurant

    Suggested Use

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

    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
    -86.2507867
    Latitude
    41.673836

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    FAQs

    What type of property is this?
    Individual retail property - Historic building, 22,810 SF retail space.
    Where is this individual retail property located?
    The property is located at 235 Michigan St South Bend, IN.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: 22,810 SF storefront at 235 S Michigan St, South Bend, IN.; Four-story, 1925 historic building with multiple ground-floor retail entrances.; Versatile upper floors suitable for office, multifamily, or storage; DT-Downtown zoning.
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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
    235 Michigan St South Bend, IN 46601
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