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    Property profile & analytics

    227 Main St South Bend, IN 46601

    • Office Properties & Spaces
    • 21,768 SF
    • 0.50 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimation
    $565,000
    Last Sale
    Sep 07, 2022
    Location Intelligence
    Property ID
    US31-2222319
    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

    • Michiana Speech Lab / Speech Pathologist
    • Wagner Dumpster Rental / Garbage Dump Service
    • Interlink Group / Internet Service Provider / Web Hosting Company
    • Indiana Legal Services, Inc. / Legal Services

    Property Details for 227 Main St

    Year built
    1928
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.50 lot acres
    Property size
    21,768 SF
    Property type
    Office Properties & Spaces
    APN
    71-08-12-156-014.000-026
    APU
    710812156014000026

    Description

    This three-story, Class B office building at 227 S Main St, South Bend, IN 46601, offers 18,298 square feet of space, with 8,953 square feet currently vacant. Built in 1928, the property features a total of 42 parking spaces and is situated on a 0.17-acre lot within the South Bend Central Business District. Flexible lease options are available, ranging from 1,000 to 5,312 contiguous square feet. The building's prime location offers easy access to courthouses, a library, and the County City Building. Rent includes taxes, utilities, daily cleaning, snow removal, trash disposal, insurance, and surface parking lot use. Tenants are responsible for their own liability insurance, telephone, and data services. The available 5,312 square foot space is located on the third floor. This is an excellent opportunity for businesses seeking a well-maintained, centrally located office space in a vibrant downtown setting. The property's APN is 71-08-12-156-014.000-026.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $545,000

    • CAP approach

      CAP return
      Estimation
      6%
      $715,000
      6.5%
      $650,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $640,000
      Geo Method
      $600,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $620,000
      Retail
      $695,000
      Mixed-Use
      $815,000
      Hospitality
      $750,000
      Educational
      $625,000
      Residential Income
      $760,000
      Energy
      $835,000
      Income-Based Land
      $770,000
      Food Service
      $630,000

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.2524
    Latitude
    41.6741
    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
    $24,893
    $77,200
    $658,400
    $735,600
    -
    $77,200
    $658,400
    $735,600

    Comparable in this City

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    • Value Estimation by Request
      12.19 Acres

      701 Sample St

      OFFICE (GENERAL) • 12.19 Acres
      701 Sample St, South Bend, IN 46601-2821
      View Details

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    227 Main St
    South Bend, IN 46601
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    Realmo Value Estimation

    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.

    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.

    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
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