Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    702 Logan St South Bend, IN 46544

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Logan St South Bend, IN 46544

    View on Map
    • Warehouses
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 702 Logan St

    Property type
    Warehouses
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 3,300 square foot commercial property presents a unique blend of industrial and office/retail space, ideally situated at the southeast corner of South Logan Street and West 8th Street in Mishawaka, Indiana. The building offers a versatile layout, featuring 1,800 square feet of heated warehouse space complete with a 14x12 overhead door, perfect for storage or light manufacturing. An additional 1,500 square feet of office/retail space provides ample room for administrative functions or retail operations. The property boasts 3-phase power and a restroom, enhancing its functionality and appeal. Its strategic location offers unparalleled accessibility, being just a quarter-mile south of Lincolnway East and within close proximity to key transportation arteries. It's only one mile from Downtown Mishawaka, less than three miles from the US 20 Bypass, three miles from Downtown South Bend, and conveniently located 4.5 miles from the University of Notre Dame and 5 miles from IN-31 South. The property is zoned I-2 (Heavy Industrial) and is offered with a Modified Gross Lease. Tenants are responsible for utilities and liability insurance in addition to rent. This property represents a compelling opportunity for businesses seeking a well-appointed space in a prime location.

    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
    -86.1964
    Latitude
    41.6553

    Comparable in this City

    • Value Estimation by Request

      3707 Bremen Hwy

      Restaurants
      3707 Bremen Hwy, Mishawaka, IN 46544
      View Details
    • Value Estimation by Request
      1,440 SF

      2914 Lincolnway E

      WAREHOUSE, STORAGE • 1,440 SF
      2914 Lincolnway E, Mishawaka, IN 46544-3532
      View Details
    • Value Estimation by Request
      1,440 SF

      2614 6th St

      WAREHOUSE, STORAGE • 1,440 SF
      2614 6th St, Mishawaka, IN 46544-1532
      View Details
    • Value Estimation
      $5,145,000
      120,510 SF

      700 Un St

      WAREHOUSE, STORAGE • 120,510 SF
      700 Un St, Mishawaka, IN 46544-2300
      View Details
    • Value Estimation by Request
      7,346 SF

      1200 6th St

      WAREHOUSE, STORAGE • 7,346 SF
      1200 6th St, Mishawaka, IN 46544-1720
      View Details
    • Value Estimation by Request
      4,576 SF

      4605 Lincolnway E

      WAREHOUSE, STORAGE • 4,576 SF
      4605 Lincolnway E, Mishawaka, IN 46544-4077
      View Details

    Similar Nearby for Sale

    • $169,000
      11,060 SF

      Versatile Commercial Mixed-Use Property

      High-traffic location, income potential, flexible warehouse space.
      2302 Lincolnway West, Mishawaka, IN 46544
      View Details
    • Contact for pricing
      91,910 SF

      Mishawaka Industrial Facility For Sale

      Industrial facility with easy access and heavy power.
      1655 E 12Th St, Mishawaka, IN 46544
      View Details
    • $3,676,400
      9.59 Acres

      Mishawaka Industrial Facility For Sale

      Industrial facility with easy access, heavy power, and updated offices.
      1655 E 12Th St, Mishawaka, IN 46544
      View Details
    • $329,000
      0.41 Acres

      Warehouse with Apartment in Mishawaka

      Warehouse with a one-bedroom apartment on Mishawaka's west side.
      1200 W 6Th St, Mishawaka, IN 46544
      View Details
    • Contact for pricing
      15,774 SF

      Versatile Mixed-Use Building in Mishawaka

      Adaptable mixed-use building in Mishawaka's revitalizing central business district.
      102 Lincolnway E, Mishawaka, IN 46544
      View Details
    • Contact for pricing

      Downtown Mishawaka Office Space Available

      Office building centrally located near new construction and river walk.
      303 N Main St, Mishawaka, IN 46544
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      16,160 SF

      Mishawaka Warehouse Space

      16,160 SF Warehouse, Multiple Suites
      5005 Lincolnway, Mishawaka, IN 46544
      View Details
    • Contact for pricing

      Mishawaka Restaurant or Retail Space

      Restaurant or retail opportunity in downtown Mishawaka with high visibility.
      111 Lincolnway E, Mishawaka, IN 46544
      View Details
    • Contact for pricing

      Mishawaka Mixed-Use Building for Lease

      Adaptable mixed-use building in Mishawaka's revitalizing central business district.
      102 Lincolnway E, Mishawaka, IN 46544
      View Details
    • Contact for pricing

      Retail Space on Bremen Highway

      Retail space in a developing Mishawaka commercial hub.
      3707 Bremen Hwy, Mishawaka, IN 46544
      View Details
    • Contact for pricing

      Downtown Mishawaka Office Space Available

      Well-maintained office building in downtown Mishawaka, suitable for various uses.
      303 S Main St, Mishawaka, IN 46544
      View Details
    • $12 SF/Yr
      3,750 SF

      Restaurant Suite in Bittersweet Plaza

      Second-generation restaurant suite in a high-traffic shopping center.
      306-340 N Bittersweet Rd, Mishawaka, IN 46544
      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.
    702 Logan St
    South Bend, IN 46544
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!