Financial
Distress signals
Property profile

2240 Prairie Ave South Bend, IN 46614

FOR LEASE
Retail space
Property ID
US31-2183506
9,500 SF 1.38 ac lot Built 2022
Last sale Oct 2022 · $200,000
Entity Owned Owner of record is a legal entity (LLC / corporation). ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
Saved · see the list in your Dashboard
Market Trends Soon

Property summary

AI-generated overview

This 8,340-square-foot, single-story Class B retail strip center, built in 2023, is situated on a 1.55-acre lot in St. Joseph County. Located near the intersection of Prairie Avenue and S Olive Street, it offers excellent visibility and convenient access. The property is anchored by Star Liquors and features three available suites: Suite A (1,200 sq ft) is an endcap space with potential for a drive-thru window (subject to city approval), currently featuring installed drywall and partially

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$10k
Tax billed · 2023
Assessed value$304k
Assessed land$25k
Assessed improvement$279k
Effective rate3.38%

Value estimate

· Sep 2026
$215k
$194k – $237k
AI approach$240k
NOI build-up
Gross scheduled income$22k
Vacancy & credit loss−$1k
Operating expenses−$6k
NOI · 81,083.33% cap applied$15k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$89/SF
Submarket average, outlier-cleaned · 19 recorded sales of this use type
Observed band · Q1–Q3$30 – $132

Cap rate analysis

How does the asset earn?
81,083.33%
$15k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionST JOSEPH

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency13.2
Hair Salon10.7
Building Supply9.9

Location

2240 Prairie Ave South Bend, IN 46614
County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

5 recorded sales · 15 properties nearby
Recent sales nearby
5 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
6210 Us 31st S, South Bend, IN 46614-5307 $300,000 May 2023 9,948 SF
800 Ireland, South Bend, IN 46614-2663 $525,000 Nov 2021 10,860 SF
4322 Michigan, South Bend, IN 46614 $945,000 Mar 2021 7,540 SF
222 Ireland, South Bend, IN 46614-2654 $640,000 Dec 2020 6,400 SF
206 Ireland, South Bend, IN 46614-2506 $4,180,000 Mar 2020 8,536 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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