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Property profile & analytics
FOR LEASE
Retail properties & Spaces
1290 E Ireland Rd South Bend, IN 46614
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1507359
For Lease
1 / 23
$8 SF/Yr
1290 E Ireland Rd, South Bend, IN 46614
View Listing →
Property summary
AI-generated overview
Erskine Village presents a significant retail investment opportunity in South Bend, Indiana. This power center boasts a total of 500,000 square feet of commercial space, situated on one acre of land at 1290 E Ireland Rd, South Bend, IN 46614. The property offers exceptional flexibility with multiple tenancy options, accommodating businesses requiring spaces ranging from a minimum of 1,200 square feet to a maximum contiguous space of 43,560 square feet. Currently, there are 132,463 square feet of vacant space available for lease, providing immediate opportunities for expansion or new ventures. The strategic location near a major highway ensures high visibility and accessibility for customers. This prime retail space is located in St. Joseph County and presents a unique chance to establish or expand a business in a thriving commercial area. The property's size and layout make it ideal for a variety of retail uses, offering a compelling investment prospect for businesses seeking a prominent presence in South Bend. The available space is divisible, allowing for customization to meet specific business needs.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2005
Construction
TYPE NOT SPECIFIED
Total area
87,310 SF
Lot
9.08 ac (395,677 SF)
APN
71-09-30-351-001.000-002
UPID
US31-1507359
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
-
Sally Beauty Cosmetic Store
-
Terranova Kelly DDS Dental Office
-
Chowhan Nadia DDS Dental Office
-
Ahmad Nasir DDS Dental Office
-
Noroozi Ahmad-Reza DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.88M
Blend (final)
Blend
$7.87M
Owner & transaction history
Erskine Village Assoc LLC · 6 yrs held
Erskine Village Assoc LLC
since 2019
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Bend submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$7,810,000
Current use
AUTO REPAIR, GARAGE
$6,610,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$7.87M
Range $7.08M – $8.66M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$90 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$204,475
Tax year 2023
Assessed value
$6,042,400
Assessed 2023
Previous assessed
$6,042,400
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$1,653,500
Assessed improvement
$4,388,900
Land market value
$1,653,500
Improvement market value
$4,388,900
Total market value
$6,042,400
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
For Lease
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
87,310 SF
Lot
9.08 ac (395,677 SF)
APN
71-09-30-351-001.000-002
UPID
US31-1507359
Jurisdiction
ST JOSEPH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$7.8M
AUTO REPAIR, GARAGE
Est. value
$6.6M
RETAIL STORES Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
9.08 ac
Current owner
From public records · entity-resolved
Erskine Village Assoc LLC
Entity
Free & Clear · 6 yrs held
Mailing address
MILWAUKEE, WI 53201
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2019
$12,285,000
Erskine Village Assoc LLC
Us Bank NA
Warranty Deed
—
May 6, 2016
$23,306,224
Us Bank NA
St Joseph County Sheriff
Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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