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Property profile & analytics
OFF-MARKET
Residential income homes

1222 Western Ave South Bend, IN 46601-2754

4,744 SF 0.2 ac lot Built 1919
Individually Owned 7-yr Hold Free & Clear
Property ID
US31-2232633
Property summary
AI-generated overview

This exceptional 4,744 square foot retail property, located at 1222 W Western Ave in South Bend, Indiana, presents a unique investment opportunity. Built in 1919, this beautifully maintained building boasts a striking exterior of old brick, granite, and limestone. The large rectangular structure measures approximately 70 feet long by 34 feet wide, with each of its two floors offering roughly 2,372 square feet of usable space. The interior layout is adaptable to various floor plans and uses, and both floors feature high ceilings. The property sits on a 0.2-acre lot and includes approximately 10 parking spaces directly east of the building. Situated on the western edge of South Bend's Commercial Business District, this location benefits from a blend of retail, residential, and mixed-use properties. The City of South Bend offers funding for façade and other building improvements, adding further value to this already attractive investment. The asking price is $258,000, translating to $54.38 per square foot. The property is zoned for commercial use and represents a rare chance to acquire a substantial, historic building in a thriving urban area.

Property profile
Verified
Property type Residential income homes
Use group APARTMENT HOUSE (UNDER 5 UNITS)
Year built 1919
Construction TYPE NOT SPECIFIED
Total area 4,744 SF
Lot 0.2 ac (8,630 SF)
APN 71-08-11-326-005.000-026
UPID US31-2232633
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
Current use
Occupant on record · Public records
  • C&C Mobile Notary Public Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Michael J Clark JR · 7 yrs held
Michael J Clark JR
since 2018
2 recorded transactions
2018
Price N/A
2005
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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