Property profile

1405 Portage Ave South Bend, IN 46616

OFF-MARKET
Grocery and convenience stores
Property ID
US31-2176291
1,676 SF 0.41 ac lot Built 1953
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional retail property, located at 1405 Portage Ave in South Bend, Indiana, presents a unique investment opportunity. Situated on a 0.64-acre lot, this multi-tenant building offers 9,300 square feet of space, currently with one unit available. The property boasts a highly desirable location, a high-visibility corner lot northwest of downtown South Bend, in a densely populated area with significant foot traffic. The zoning is NC (Neighborhood Commercial). The property is ideal for a variety of uses, including restaurants, grocery stores, coffee shops, nail and beauty salons, dental practices, physical therapy clinics, insurance agencies, or real estate offices. Please note that there are some restrictions in place: gas and liquor sales are restricted, and there is a partial restriction on convenience store operations. This prime location and ample square footage make this property an excellent choice for businesses seeking high visibility and strong foot traffic in a thriving South Bend neighborhood. The property is in St. Joseph County, Indiana, with a zip code of 46616.

Property profile

Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE
Year built 1953
Construction WOOD
Total area 1,676 SF
Lot 0.41 ac (17,820 SF)
APN 71-03-35-360-020.000-026
UPID US31-2176291

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1405 Portage Ave South Bend, IN 46616-1734
South Bend metro Census 200 SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

Owner & transaction history

since 2022
1 recorded transaction
2022
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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