Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2230 Bnd Ave South Bend, IN 46635-1662

    • Banks
    • 5,040 SF
    • 0.43 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3240463
    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.

    Current Use by Public Records

    • 1st Source Bank / Bank / Loan Service
    • Nathan Piwowar, 1st Source Asset Advisors / Financial Advisor

    Property Details for 2230 Bnd Ave

    Year built
    1970
    Construction
    WOOD
    Lot size
    0.43 lot acres
    Property size
    5,040 SF
    Property type
    Banks
    APN
    71-04-32-306-020.000-004
    APU
    710432306020000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.2149
    Latitude
    41.7003
    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
    $7,242
    $89,400
    $124,600
    $214,000
    -
    $89,400
    $124,600
    $214,000

    Comparable in this City

    • Value Estimation by Request
      2,090 SF

      53790 Generations Dr

      FINANCIAL BUILDING • 2,090 SF
      53790 Generations Dr, South Bend, IN 46635-1539
      View Details
    • Value Estimation by Request
      3,108 SF

      17382 State Rd 23

      FINANCIAL BUILDING • 3,108 SF
      17382 State Rd 23, South Bend, IN 46635-1747
      View Details
    • Value Estimation by Request
      2,162 SF

      17977 Cleveland Rd

      FINANCIAL BUILDING • 2,162 SF
      17977 Cleveland Rd, South Bend, IN 46635-1380
      View Details
    • Value Estimation
      $900,000
      6,420 SF

      1728 Ironwood Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,420 SF
      1728 Ironwood Dr, South Bend, IN 46635-1844
      View Details
    • Value Estimation by Request
      2,058 SF

      1404 Ironwood Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,058 SF
      1404 Ironwood Dr, South Bend, IN 46635-1838
      View Details
    • Value Estimation by Request
      2,784 SF

      17963 Cleveland Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,784 SF
      17963 Cleveland Rd, South Bend, IN 46635-1380
      View Details

    Similar Nearby for Sale

    • $480,000
      3.88 Acres

      Prime South Bend Residential Land

      3.88 Acres Near Notre Dame
      53287 Ironwood Rd, South Bend, IN 46635
      View Details
    • $580,000
      4,164 SF

      South Bend Office Building for Sale

      Prime Office Space, High Visibility, $580,000
      17868 In-23, South Bend, IN 46635
      View Details
    • $329,000
      1.34 Acres

      17242 Douglas Rd

      Land • 1.34 Acres
      17242 Douglas Rd, South Bend, IN 46635
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      10,395 SF

      Prime South Bend Office Space

      10,395 SF Office Building, Suite Available
      53842 Generations Dr, South Bend, IN 46635
      View Details
    • Contact for pricing
      3,080 SF

      Executive Office Suite, South Bend

      Modern Office Space, Prime Location
      801 Douglas Rd, South Bend, IN 46635
      View Details
    • $14 SF/Yr
      2,754 SF

      South Bend Office Space For Lease

      Prime location, 2754 sq ft, drive-thru.
      17977 Cleveland Rd, South Bend, IN 46635
      View Details
    • $21 SF/Yr

      Turnkey Medical Office Space Available

      Updated medical office space in a dedicated medical complex.
      6301 University Commons, South Bend, IN 46635
      View Details
    • Contact for pricing
      6,838 SF

      Move-in Ready Medical Office Space

      Medical office space available for lease near major hospitals.
      53800 Generations Dr, South Bend, IN 46635
      View Details
    • $22 SF/Yr
      102,574 SF

      University Commons Medical Office Space

      Turnkey medical office, Granger, IN.
      6301 University Commons, South Bend, IN 46635
      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.
    2230 Bnd Ave
    South Bend, IN 46635-1662
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!