Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    215 Dixie Way South Bend, IN 46637-3309
    Back to Search
    Property profile & analytics

    215 Dixie Way, South Bend, IN 46637-3309

    View on Map
    • Retail space
    • 4,080 SF
    • 0.12 lot acres
    Off-Market
    Last Sale Jun 9, 2023
    Property ID
    US31-1473807
    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

    • Dawson Furnace Repair South Bend / HVAC Service / General Contractor
    • Quality Inn University Area / Hotel & Motel
    • Efren / Grocery & Convenience Store / Food Market
    • Baymont By Wyndham South Bend Notre Dame / Hotel & Motel
    • The 808th Dimension / Model Portfolio Studio

    Property Details for 215 Dixie Way

    Year built
    1941
    Construction
    WOOD
    Lot size
    0.12 lot acres
    Property type
    Retail space
    APN
    71-03-25-152-020.000-007
    APU
    710325152020000007

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 28, 2025 — Shivani LLC — Deed · related $186k · First Fsb
    Jun 30, 2023 — Shivani LLC — Deed · related $243k · First Fsb
    Jun 9, 2023 — Lindzy Trust Richard Lindzy Quit Claim Deed · related —
    May 4, 2023 — Shivani LLC Dark Pelican LLC Warranty Deed $3.9M · First Fsb
    Apr 7, 2021 $4,400,000 Dark Pelican LLC Rpj South Bend LLC Special Warranty Deed $3.8M · First Chatham Bank
    Feb 24, 2021 — Lindzy Trust Richard Lindzy Quit Claim Deed · related —
    Sep 15, 2017 $4,100,000 Rpj South Bend LLC Colfin Jih Ahi Properties LLC Deed —

    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
    -86.2509
    Latitude
    41.7176
    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
    $2,838
    $40,300
    $61,700
    $102,000
    -
    $40,300
    $61,700
    $102,000

    Comparable in this City

    • Value Estimation by Request
      3,543 SF

      309 Dixie Way

      RETAIL STORES (PERSONAL SERVICES)
      309 Dixie Way, South Bend, IN 46637-3311
      View Details
    • Value Estimation
      $630,000
      5,005 SF

      254 Dixie Way

      RETAIL STORES (PERSONAL SERVICES)
      254 Dixie Way, South Bend, IN 46637-3308
      View Details
    • Value Estimation by Request
      2,585 SF

      2123 Edison Rd

      RETAIL STORES (PERSONAL SERVICES)
      2123 Edison Rd, South Bend, IN 46637-5608
      View Details
    • Value Estimation by Request
      2,576 SF

      50532 Indiana State Rte 933

      RETAIL STORES (PERSONAL SERVICES)
      50532 Indiana State Rte 933, South Bend, IN 46637-2051
      View Details
    • Value Estimation by Request
      2,760 SF

      50865 Indiana State Rte 933

      RETAIL STORES (PERSONAL SERVICES)
      50865 Indiana State Rte 933, South Bend, IN 46637-2055
      View Details
    • Value Estimation by Request
      2,380 SF

      314 Dixie Way

      RETAIL STORES (PERSONAL SERVICES)
      314 Dixie Way, South Bend, IN 46637-3310
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,938 SF

      Retail Space on Corner Location

      Retail property with high traffic and dedicated signage.
      202 N Dixie Way, South Bend, IN 46637
      View Details
    • Contact for pricing
      2,927 SF

      High-Visibility Corner Retail Parcel

      Redevelopment opportunity in a supply-constrained corridor near Notre Dame.
      320 N Dixie Way, South Bend, IN 46637
      View Details
    • Contact for pricing

      Half-Acre Lot on US-933

      Half-acre lot with frontage on high-traffic US-933.
      114 N Dixie Way, South Bend, IN 46637
      View Details
    • Contact for pricing
      10,000 SF

      Versatile Office and Retail Building

      Two-story building with office and retail suites near universities.
      247 N Dixie Way, South Bend, IN 46637
      View Details
    • Contact for pricing
      10,268 SF

      Retail/Commercial Space on Dixie Way

      High-visibility retail/commercial space with recent improvements and flexible options.
      211 N Dixie Way, South Bend, IN 46637
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space Near Notre Dame

      End-cap retail space near University of Notre Dame.
      52991 State Hwy 933, South Bend, IN 46637
      View Details
    • Contact for pricing

      South Bend Retail Build-to-Suit

      Prime retail space near Notre Dame and major retailers.
      52885 Sr 933 N, South Bend, IN 46637
      View Details
    • Contact for pricing

      Retail Space Near Notre Dame

      High-visibility retail space near Notre Dame and major thoroughfares.
      52991 State Hwy 933, South Bend, IN 46637
      View Details
    • Contact for pricing

      Retail and Industrial Spaces Available

      Retail and industrial spaces for rent with high traffic exposure.
      51236 State Hwy 933, South Bend, IN 46637
      View Details
    • Contact for pricing
      4,858 SF

      Freestanding Office/Retail Building For Rent

      4,858 SF office/retail building with excellent visibility and parking.
      52530 State Hwy 933, South Bend, IN 46637
      View Details
    • New
      $4,200 /Mo
      2,429 SF

      Former Bank Building For Lease

      Retail space with drive-thru in high-traffic South Bend location.
      52530 Indiana State Rte 933 Rte, South Bend, IN 46637
      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.
    215 Dixie Way
    South Bend, IN 46637-3309
    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
    215 Dixie Way, South Bend, IN, 46637
    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!