Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1213 Main St, Unit 1225 South Bend, IN 46601-3339

    • Warehouses
    • 7,775 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Apr 27, 2023
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1714802
    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.

    Current Use by Public Records

    • Consolidated Electrical Distributors / Electrical Supply Store

    Property Details for 1213 Main St

    Year built
    1917
    Construction
    WOOD
    Lot size
    0.50 lot acres
    Property size
    7,775 SF
    Property type
    Warehouses
    APN
    71-08-13-152-008.000-026
    APU
    710813152008000026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $274,000
      Market price range: $135k - $275k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $330,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.2521
    Latitude
    41.661
    CBSA code
    43780
    CBSA name
    SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,834
    $27,700
    $203,800
    $231,500
    -
    $27,700
    $203,800
    $231,500

    Comparable in this City

    • Value Estimation by Request
      13,856 SF

      828 Kerr St

      STORAGE YARD, OPEN STORAGE • 13,856 SF
      828 Kerr St, South Bend, IN 46601-2836
      View Details
    • Value Estimation by Request
      14,966 SF

      502 Lasalle Ave

      WAREHOUSE, STORAGE • 14,966 SF
      502 Lasalle Ave, South Bend, IN 46601-1109
      View Details
    • Value Estimation
      $435,000
      24,704 SF

      917 Chapin St

      WAREHOUSE, STORAGE • 24,704 SF
      917 Chapin St, South Bend, IN 46601-2829
      View Details
    • Value Estimation
      $575,000
      17,327 SF

      850 Fellows St

      WAREHOUSE, STORAGE • 17,327 SF
      850 Fellows St, South Bend, IN 46601-3121
      View Details
    • Value Estimation
      $330,000
      10,608 SF

      1231 Pr Ave

      WAREHOUSE, STORAGE • 10,608 SF
      1231 Pr Ave, South Bend, IN 46601-2851
      View Details
    • Value Estimation
      $670,000
      65,256 SF

      301 Sample St

      WAREHOUSE, STORAGE • 65,256 SF
      301 Sample St, South Bend, IN 46601-3547
      View Details

    Similar Nearby for Sale

    • $294,000
      8,400 SF

      South Bend Warehouse/Manufacturing Opportunity

      Warehouse/manufacturing property with flexible use and convenient location.
      707 S Scott St, South Bend, IN 46601
      View Details
    • $1,600,000

      Cross-Dock Facility with 60 Doors

      Divisible cross-dock and warehouse facility with convenient central location.
      815 W Sample St, South Bend, IN 46601
      View Details
    • $699,900
      33,865 SF

      Secured Storage Warehouse For Sale

      Warehouse with fenced, gated outdoor storage and loading docks.
      1910 Lincoln Way W, South Bend, IN 46601
      View Details
    • Contact for pricing

      High-Visibility Corner Location in South Bend

      Retail or industrial flex space with signage opportunities.
      958 Lincoln Way East, South Bend, IN 46601
      View Details
    • $1,308,000

      South Bend Industrial Facility

      26,162 SF industrial facility with fenced outdoor storage.
      1137 S Lafayette Blvd, South Bend, IN 46601
      View Details
    • $294,000
      8,400 SF

      South Bend Industrial Flex Space

      8,400 SF Flex Space - $294,000
      707 Scott St, South Bend, IN 46601
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      5,784 SF

      South Bend Industrial Flex Space

      Modern Flex Space, Immediate Occupancy
      1002 Lafayette Blvd, South Bend, IN 46601
      View Details
    • $4 SF/Yr
      30,921 SF

      Park Point Executive Office Space

      South Bend CBD Flex Office, 2,000 SF Available
      630 Bronson St, South Bend, IN 46601
      View Details
    • $4 SF/Yr
      71,748 SF

      South Bend Industrial Complex

      71,748 SF Manufacturing Space Available
      1330 High St, South Bend, IN 46601
      View Details
    • $10 SF/Yr
      5,312 SF

      Flex Industrial Space Available

      5,312 SF flex industrial space for lease.
      921 South Main St, South Bend, IN 46601
      View Details
    • $17 SF/Yr
      133,939 SF

      Key Bank Building: South Bend Office Space

      Prestigious South Bend office space, flexible layouts.
      202 Michigan St, South Bend, IN 46601
      View Details
    • $17 SF/Yr
      115,348 SF

      Key Bank Building Office Space

      Class A Downtown South Bend Office
      202 Michigan St, South Bend, IN 46601
      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.
    1213 Main St, Unit 1225
    South Bend, IN 46601-3339
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.