1517 Michigan St South Bend, IN 46613

This exceptional investment opportunity presents a 8,383 square foot, multi-tenant retail property located at 1517 S Michigan St, South Bend, Indiana, 46613. The property, built in 1949 with facade renovations completed in 2020, boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $51,455. The property features a national retailer occupying the street-facing retail suite under a NNN lease with significant remaining lease term potential. A long-term tenant (10+ years) occupies the rear warehouse space, although the landlord retains the right to replace this tenant with another user. Additional income is generated from a billboard. All utilities are paid by the tenants, minimizing landlord expenses. Situated in a Federal Opportunity Zone, just south of downtown South Bend's central business district, this property benefits from high visibility and traffic, with a daily count of 22,800 cars. The 0.38-acre lot is zoned MU (Mixed Use) and is surrounded by other commercial and retail businesses, as well as single-family residential properties. The asking price for this prime retail investment is $525,000. Property consists of one building. APN: 71-08-13-156-029.000-026