Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    116 W Mishawaka Ave Mishawaka, IN 46545
    Back to Search
    Property profile & analytics

    116 W Mishawaka Ave Mishawaka, IN 46545

    View on Map
    • Office Units
    For Lease
    View Listing →
    Mixed-Use Development in Downtown Mishawaka For Lease
    Contact for pricing
    2,810 SF

    Mixed-Use Development in Downtown Mishawaka

    Office and retail spaces available in mixed-use urban development.

    116 W Mishawaka Ave, Mishawaka, IN 46545
    View Listing
    Property ID
    US31-1546103
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • River Rock Apartments / Apartment Complex / Apartment Building

    Property Details for 116 W Mishawaka Ave

    Year built
    2017
    Property type
    Office Units
    Property subtype
    Retail space

    Description

    Mixed-use development which includes an urban apartment community as well as retail and office spaces. Located at the northwest corner of Main Street and Mishawaka Avenue, the River Rock Complex sits adjacent to Beutter Park in downtown Mishawaka. Three suites available for office/retail ranging from 458 SF to 2,810 SF. River Rock Complex is a planned, mixed-use urban development along the banks of the St. Joseph River. It is anchored by the beautifully landscaped and vibrant river walk at Beutter Park in downtown Mishawaka. Beutter Park is a destination that brings people to the downtown area to enjoy seasonal produce markets, summer concert venues, movies in the park and art fairs. The river-walk way loops around both sides of the river and connects to several city parks along the riverbank. The development is surrounded by an eclectic mix of restaurants, pubs and commercial and professional businesses, town homes, condominiums and senior living residences all within walking distance.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mishawaka
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.180516
    Latitude
    41.666477

    Comparable in this City

    • Contact for pricing

      Mishawaka Flex Building Space Available

      Multi-tenant flex building with office/production space for rent.
      3618 Grape Rd, Mishawaka, IN 46545
      View Details
    • $12 SF/Yr

      Retail Center Near Notre Dame

      30,000 SF shopping center near University of Notre Dame.
      4110 Grape Rd, Mishawaka, IN 46545
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available for rent, 2,800 SqFt.
      4615 Grape Rd, Mishawaka, IN 46545
      View Details
    • Contact for pricing

      Mishawaka Office and Retail Space

      Single tenant office and retail space available for rent.
      220 W Edison Rd, Mishawaka, IN 46545
      View Details
    • Contact for pricing

      Downtown Mishawaka Office Space

      Office space in downtown Mishawaka near Riverwalk.
      804 N Main St, Mishawaka, IN 46545
      View Details
    • $21 SF/Yr
      1,806 SF

      Mishawaka Office Space For Rent

      Class A office space with scenic views and ample parking.
      3625 Park Pl W, Mishawaka, IN 46545
      View Details

    Similar Nearby for Sale

    • $1,350,000

      Mixed-Use Property in Downtown Mishawaka

      Investment opportunity near Mishawaka Riverwalk with retail and apartments.
      608 N Main St, Mishawaka, IN 46545
      View Details
    • $1,299,000
      15,534 SF

      Downtown Mishawaka Mixed-Use

      High-yield retail & multifamily investment.
      608 Main St, Mishawaka, IN 46545
      View Details
    • Contact for pricing
      7,148 SF

      Mishawaka Retail/Industrial Opportunity

      Two-parcel property near McKinley Ave, suitable for retail/industrial use.
      55955 Hoosier Ave, Mishawaka, IN 46545
      View Details
    • Contact for pricing
      88,854 SF

      Edison Lakes Corporate Office Park

      Class A office building in a prime corporate park.
      1301 E Douglas Rd, Mishawaka, IN 46545
      View Details
    • $749,000
      6,100 SF

      Edison Lakes Class A Office

      Class A office building in Mishawaka's prime office park.
      3550 Park Pl W, Mishawaka, IN 46545
      View Details
    • $2,250,000

      Class A Office Building For Sale

      Class A office building in Edison Lakes Corporate Park.
      3820 Edison Lakes Pkwy, Mishawaka, IN 46545
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mishawaka Flex Building Space Available

      Multi-tenant flex building with office/production space for rent.
      3618 Grape Rd, Mishawaka, IN 46545
      View Details
    • $12 SF/Yr

      Retail Center Near Notre Dame

      30,000 SF shopping center near University of Notre Dame.
      4110 Grape Rd, Mishawaka, IN 46545
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available for rent, 2,800 SqFt.
      4615 Grape Rd, Mishawaka, IN 46545
      View Details
    • Contact for pricing

      Mishawaka Office and Retail Space

      Single tenant office and retail space available for rent.
      220 W Edison Rd, Mishawaka, IN 46545
      View Details
    • Contact for pricing

      Downtown Mishawaka Office Space

      Office space in downtown Mishawaka near Riverwalk.
      804 N Main St, Mishawaka, IN 46545
      View Details
    • $21 SF/Yr
      1,806 SF

      Mishawaka Office Space For Rent

      Class A office space with scenic views and ample parking.
      3625 Park Pl W, Mishawaka, IN 46545
      View Details
    View Listing
    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.
    116 W Mishawaka Ave
    Mishawaka, IN 46545
    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
    116 W Mishawaka Ave, Mishawaka, IN, 46545
    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!