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Property profile & analytics
OFF-MARKET
Banks

121 Grv St Mishawaka, IN 46545-6647

3,960 SF 0.67 ac lot Built 1986
Entity Owned 1-yr Hold ~ Est. High Equity
Property ID
US31-1854036
Property summary
AI-generated overview

This exceptional Class A office building, located at 121 E Grove St in Mishawaka, Indiana, presents a unique investment opportunity. The property boasts 3,960 square feet of finished office space on the main level, complemented by an additional 3,960 square feet of finished lower-level space – a total of 7,920 square feet. Previously a bank branch, the building features a convenient covered drive-thru area and ample on-site parking. Situated on a 0.96-acre lot at the highly visible corner of Main Street and Mishawaka Avenue, this property benefits from exceptional exposure. The location is ideal, offering proximity to Mishawaka's Central Park and a vibrant downtown area experiencing significant redevelopment, including the Ironworks Plaza Ice Rink and Event Center. Nearby amenities include numerous restaurants and breweries such as Jesus Latin Grill, Chickory Café, Doc Pierce's, Ball Band Biergarten, and Sun King Brewery. The property is zoned for commercial use, presenting exciting possibilities for redevelopment into multi-family, mixed-use, or larger office space. The asking price is $450,000, translating to $113.64 per square foot. Currently vacant, this property offers immediate occupancy and significant upside potential. The property is located in the 46545 zip code.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1986
Construction TYPE NOT SPECIFIED
Total area 3,960 SF
Lot 0.67 ac (29,232 SF)
APN 71-09-09-485-006.000-023
UPID US31-1854036
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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by Request
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
121 E Grove LLC · 1 yrs held
121 E Grove LLC
since 2024
Last sale
$437,500
1 recorded transaction
2024
$437,500
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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