Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1632 Commerce Dr South Bend, IN 46628
    Back to Search
    Property profile & analytics

    1632 Commerce Dr, South Bend, IN 46628

    View on Map
    • Warehouses
    • 45,940 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • O Js Building Services Linc Services / Hardware & Home Improvement / HVAC Service

    Property Details for 1632 Commerce Dr

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    Airport Commerce Plaza offers a prime industrial space opportunity in South Bend, Indiana. This single-story, 45,940 square foot building boasts a convenient location within one mile of the South Bend Airport, the Toll Road, and US 20/31, ensuring excellent accessibility for transportation and logistics. Currently, 3,840 contiguous square feet are available for lease within this multi-tenant building, which comprises a total of seven suites. The building underwent renovations in 2017, encompassing improvements to the roof, HVAC systems, and parking lot. The property features a 16-foot ceiling height, ideal for various industrial uses including flex, warehouse, and manufacturing operations. The building's management provides below-market common area maintenance (CAM) charges, representing a significant cost advantage for potential tenants. This well-maintained property presents a compelling opportunity for businesses seeking efficient, accessible, and cost-effective industrial space in a strategic South Bend location. The available space is perfect for a variety of uses, and the building's recent upgrades ensure a modern and functional environment. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.3068
    Latitude
    41.6966

    Comparable in this City

    • Value Estimation by Request
      74,226 SF

      6561 Lonewolf Dr

      Distribution properties
      6561 Lonewolf Dr, South Bend, IN 46628
      View Details
    • Value Estimation by Request
      50,000 SF

      Dylan Dr

      Distribution properties
      0 Dylan Dr, South Bend, IN 46628
      View Details
    • Value Estimation by Request
      57,040 SF

      3431 William Richardson Ct

      Manufacturing properties
      3431 William Richardson Ct, South Bend, IN 46628
      View Details
    • Value Estimation
      $7,980,000
      143,890 SF

      5102 Dylan Dr

      WAREHOUSE, STORAGE
      5102 Dylan Dr, South Bend, IN 46628-6503
      View Details
    • Value Estimation
      $11,620,000
      210,420 SF

      5448 Dylan Dr

      WAREHOUSE, STORAGE
      5448 Dylan Dr, South Bend, IN 46628-7050
      View Details
    • Value Estimation
      $4,800,000
      218,415 SF

      4955 Ameritech Dr

      WAREHOUSE, STORAGE
      4955 Ameritech Dr, South Bend, IN 46628-9129
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      225,000 SF

      Industrial Warehouse with Highway Access

      225,000 SF warehouse on 19.6 acres with highway access.
      6701 W Cleveland Rd, South Bend, IN 46628
      View Details
    • Contact for pricing
      67,026 SF

      Class A Flex Industrial Property

      Cutting-edge flex industrial property with integrated office space.
      6561 Lonewolf Dr, South Bend, IN 46628
      View Details
    • Contact for pricing
      9,300 SF

      Industrial Warehouse For Sale

      9,300 SqFt industrial warehouse available for purchase.
      3303 William Richardson Ct, South Bend, IN 46628
      View Details
    • Contact for pricing
      3,724,380 SF

      85.5 Acres Development Opportunity

      85.5 acres of land with high visibility on US-31.
      53438 Olive St, South Bend, IN 46628
      View Details
    • Contact for pricing
      115,486 SF

      Industrial Property With Fuel Station

      115,486 SF industrial property with fuel station for sale.
      2929 Lathrop St, South Bend, IN 46628
      View Details
    • Contact for pricing

      Prime Northwest Location Land Parcels

      10.09 acres with quick access to major routes.
      4403 Brick Rd, South Bend, IN 46628
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,600 SF

      Manufacturing and Warehouse Facility Available

      Clean, well-maintained manufacturing/warehouse facility with renovated office space for lease.
      24355 Edison Rd, South Bend, IN 46628
      View Details
    • Contact for pricing
      100,000 SF

      South Bend Warehouse Space Available

      100,000 SF warehouse with docks and grade-level door.
      3310 William Richardson Dr, South Bend, IN 46628
      View Details
    • Contact for pricing

      Flex Industrial/Warehouse Building For Lease

      Flex industrial/warehouse building with office space available for lease.
      3605 Gagnon St, South Bend, IN 46628
      View Details
    • Contact for pricing
      77,000 SF

      77,000 SF Industrial Space Available

      77,000 SF industrial space for sublease until April 2026.
      4491 Mayflower Rd, South Bend, IN 46628
      View Details
    • $8 SF/Yr

      South Bend Flex/Industrial Suites

      Office and industrial flex suites available in South Bend.
      3371 W Cleveland Rd, South Bend, IN 46628
      View Details
    • Contact for pricing

      Warehouse Space Near Airport

      Well-located warehouse space with immediate connectivity to transportation corridors.
      2301 N Bendix Dr, South Bend, IN 46628
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1632 Commerce Dr
    South Bend, IN 46628
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1632 Commerce Dr, South Bend, IN, 46628
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!