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    1143 Ireland Rd South Bend, IN 46614

    • Neighborhood centers
    • 115,059 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Staples Print & Marketing Services / Banner Store / Blueprint Service
    • TRF Group LLC / Consultant
    • FUNKTIONAL OBJECTS / Design Agency
    • Dynamic Counseling / Counselor
    • Sweeping Genies / Commercial Cleaning Service

    Property Details for 1143 Ireland Rd

    Property size
    115,059 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Broadmoor Plaza, located at 1143 East Ireland Road in South Bend, Indiana (zip code 46614), offers a prime retail opportunity. This strip center boasts a total of 115,059 square feet of retail space, currently featuring a single suite of 2,100 square feet available for lease. The property is situated in St. Joseph County and enjoys a highly visible location within a thriving commercial area. The center benefits from strong anchor tenants, including Kroger, Jo-Ann Fabrics, and Staples, ensuring high foot traffic and a robust customer base. This presents a unique chance for businesses seeking established visibility and accessibility in a well-established retail environment. The available space is ideal for a variety of retail uses, offering excellent potential for growth and success. The property's central location in South Bend provides easy access to major transportation routes and a large consumer demographic. Interested parties are encouraged to inquire about lease terms and availability for this exceptional retail space. The property's address is easily accessible and provides ample parking for customers and employees.

    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
    -86.2334
    Latitude
    41.6304

    Comparable in this City

    • Value Estimation by Request
      3,540 SF

      1111 Ireland Rd

      Neighborhood centers • 3,540 SF
      1111 Ireland Rd, South Bend, IN 46614
      View Details
    • Value Estimation by Request
      13,723 SF

      2024 Ireland Rd

      Lifestyle centers • 13,723 SF
      2024 Ireland Rd, South Bend, IN 46614
      View Details
    • Value Estimation
      $455,000
      11,180 SF

      315 Ireland Rd

      SHOPPING CENTER, STRIP CENTER • 11,180 SF
      315 Ireland Rd, South Bend, IN 46614-3845
      View Details
    • Value Estimation
      $315,000
      12,730 SF

      902-912 Ireland

      SHOPPING CENTER, STRIP CENTER • 12,730 SF
      902-912 Ireland, South Bend, IN 46614
      View Details
    • Value Estimation
      $255,000
      5,600 SF

      2614 Michigan St, Unit 2616-18-20

      SHOPPING CENTER, STRIP CENTER • 5,600 SF
      2614 Michigan St, South Bend, IN 46614-1028
      View Details
    • Value Estimation
      $315,000
      13,264 SF

      Ee Ireland Rd At S Ironwood Dr Dr

      SHOPPING CENTER, STRIP CENTER • 13,264 SF
      Ee Ireland Rd At S Ironwood Dr Dr, South Bend, IN 46614
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      115,059 SF

      Broadmoor Plaza Retail Space

      South Bend retail center, 2,100 sq ft available.
      1143 Ireland Rd, South Bend, IN 46614
      View Details
    • Contact for pricing
      3,540 SF

      Broadmoor Plaza Retail Space for Lease

      South Bend Retail Center - Fully Vacant
      1111 Ireland Rd, South Bend, IN 46614
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    • $8 SF/Yr
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      Renovated Retail Space For Lease

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    1143 Ireland Rd
    South Bend, IN 46614
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    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
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