Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    21189 Cleveland Rd South Bend, IN 46628
    Back to Search
    Property profile & analytics

    21189 Cleveland Rd South Bend, IN 46628

    View on Map
    • Commercial land
    For Sale
    $1,064,000
    View Listing →
    High-Visibility Commercial Land Available For Sale
    $1,064,000

    High-Visibility Commercial Land Available

    Land with high traffic, near shopping, dining, and toll road.

    21189 Cleveland Rd, South Bend, IN 46628
    View Listing
    Property ID
    US31-2286267
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 21189 Cleveland Rd

    Property type
    Commercial land
    Property subtype
    Retail properties & Spaces

    Description

    Cleveland Crossings is a high-visibility location with over 28,000 cars per day, next to Meijer's Super Store and the Cleveland / Portage Commercial node. This property has great Indiana I-80/90 toll road visibility and is approximately 2 miles from US 31 Bypass ramp. Other nearby attractions include convenient shopping and restaurants, high density multi family housing, the German Township library, and more. Will subdivide, great corner & outlot possibilities. Seller financing available. 10 minutes to Amazon & GM battery plant. Property is Broker Owned. Call Steve Cooreman 574-250-5024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.27875
    Latitude
    41.723453

    Comparable in this City

    • Contact for pricing

      Commercial Land Near US 20/31

      25.70 acres of commercial land near major transportation routes.
      Cleveland Rd & Mayflower Rd, South Bend, IN 46628
      View Details
    • Contact for pricing

      Prime Northwest Location Land Parcels

      10.09 acres with quick access to major routes.
      4403 Brick Rd, South Bend, IN 46628
      View Details
    • $565,000
      6,600 SF

      Iconic Restaurant Opportunity in South Bend

      Turnkey restaurant with established name, furniture, fixtures, and equipment.
      24460 Adams Rd, South Bend, IN 46628
      View Details
    • Contact for pricing
      8,000 SF

      Portage Ave Restaurant Space For Sale

      High-visibility South Bend restaurant space.
      1405 Portage Ave, South Bend, IN 46628
      View Details
    • $830,000
      6,480 SF

      O'Reilly Auto Parts Retail Building

      High-Yield Investment-Grade Retail Property
      3030 W Lincoln Way, South Bend, IN 46628
      View Details
    • Contact for pricing

      Lake Blackthorn Commercial Lot Available

      Commercial lot zoned for local business near major transportation routes.
      4536 Lake Blackthorn Dr, South Bend, IN 46628
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land Near US 20/31

      25.70 acres of commercial land near major transportation routes.
      Cleveland Rd & Mayflower Rd, South Bend, IN 46628
      View Details
    • Contact for pricing

      Prime Northwest Location Land Parcels

      10.09 acres with quick access to major routes.
      4403 Brick Rd, South Bend, IN 46628
      View Details
    • $830,000
      6,480 SF

      O'Reilly Auto Parts Retail Building

      High-Yield Investment-Grade Retail Property
      3030 W Lincoln Way, South Bend, IN 46628
      View Details
    • $565,000
      6,600 SF

      Iconic Restaurant Opportunity in South Bend

      Turnkey restaurant with established name, furniture, fixtures, and equipment.
      24460 Adams Rd, South Bend, IN 46628
      View Details
    • Contact for pricing
      8,000 SF

      Portage Ave Restaurant Space For Sale

      High-visibility South Bend restaurant space.
      1405 Portage Ave, South Bend, IN 46628
      View Details
    • Contact for pricing

      Lake Blackthorn Commercial Lot Available

      Commercial lot zoned for local business near major transportation routes.
      4536 Lake Blackthorn Dr, South Bend, IN 46628
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,300 SF

      South Bend Retail Space For Lease

      9,300 SF Retail Space - Available Now
      1405 Portage Ave, South Bend, IN 46628
      View Details
    • Contact for pricing

      Warehouse Space Near Airport

      Well-located warehouse space with immediate connectivity to transportation corridors.
      2301 N Bendix Dr, South Bend, IN 46628
      View Details
    • Contact for pricing

      High Visibility Office Space Available

      Office space with high visibility and traffic in South Bend.
      5838 Brick Rd, South Bend, IN 46628
      View Details
    • Contact for pricing

      Carbonmill Plaza Retail Space Available

      Retail space for lease in high-traffic South Bend location.
      4505 Ameritech Dr, South Bend, IN 46628
      View Details
    • Contact for pricing

      Renovated Office Suite Overlooking Golf

      Newly renovated 3,183 SF office suite with golf course views.
      5770 Nimtz Pkwy, South Bend, IN 46628
      View Details
    • $6 SF/Yr
      15,096 SF

      6252 Business Center Drive

      Creative Office Space, 15,096 SF
      6252 Business Center Dr, South Bend, IN 46628
      View Details
    View Listing
    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.
    21189 Cleveland Rd
    South Bend, IN 46628
    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

    Thank You for Inquiry
    21189 Cleveland Rd, South Bend, IN, 46628
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!