1401 Michigan StSouth Bend, IN 46613

Property Details for 1401 Michigan St

Year built

1934

Construction

WOOD

Lot size

0.37 AC

Property size (Sq ft)

1,768 SF

Property type

Retail properties

Property subtype

Auto shops

APN

71-08-13-156-018.000-026

APU

710813156018000026

Description

This exceptional investment opportunity presents a 1,768 square foot auto shop located at 1401 S Michigan St, South Bend, Indiana, 46613. The property, situated on a 0.43-acre lot, is classified as a Class C retail building and boasts a single story structure built in 1934. The asking price is $110,000. Previously used as a gas station, the building currently functions as a sales lot and repair center, offering significant potential for a variety of automotive-related businesses. The property's convenient location in South Bend, within St. Joseph County, provides excellent access to a substantial customer base. With its established history and ample space, this auto shop presents a compelling opportunity for entrepreneurs seeking a well-positioned commercial property. The single building on the site offers immediate occupancy and the potential for expansion or renovation to suit specific business needs. The property's size and location make it an attractive investment for both established businesses and new ventures in the automotive industry. Serious inquiries are encouraged to explore this promising commercial real estate offering.

• CAP approach

  CAP return

  Valuation

  6%

  $457,441

  6.5%

  $422,253

  7%

  $392,092

• Comparable approach

  Method

  Valuation

  Relative Method

  $580,311

  Geo Method

  $580,311

• Alternative Use

  Use

  Valuation

  Residential

  $356,186

  Hospitality

  $326,265

  Educational

  $271,449

  Medical

  $280,784

  Retail

  $422,253

Location Insight

City

South Bend

County

St. Joseph

State

Indiana

Latitude

41.6599

Longitude

-86.2505

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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