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Property profile & analytics
OFF-MARKET
Estimated value
$8,110,000
Medical Office Space
270 Day Rd Mishawaka, IN 46545-3444
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-2372662
Property summary
AI-generated overview
This exceptional 3,770-square-foot Class A medical office suite, located at 270 E Day Road, Suite 260, Mishawaka, Indiana, is available for sale or lease. Situated within the Edison Lakes Medical Center complex, this single-tenant space boasts a prime location offering excellent visibility and accessibility. Built in 1994 and extensively renovated in 2020, the suite features new carpet and paint throughout. The first floor encompasses 2,878 square feet and includes a reception/lobby, six exam rooms, an x-ray room, three private offices, ample supply/storage, a nurse station, sterilization room, four restrooms, and a conference room. Separate employee and patient entrances/exits enhance functionality. The second floor adds 892 square feet with a break area, a private office, an open work area, and laundry/storage. The property is zoned S-2 and benefits from its location in the Edison Lakes Corporate Park, providing easy access to major roadways including Douglas, Grape, and Day Roads
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Construction
TYPE NOT SPECIFIED
Total area
71,131 SF
Lot
0 ac (9 SF)
APN
71-04-33-426-006.000-005
UPID
US31-2372662
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Recker Scott F MD Physician
-
Dr. William Hull Dental Office
-
Charles Mcdonald Ware Physician
-
Jordan Nemer Physician
-
Francu Diana MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.79M
CAP Approach
CAP
$7.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.11M
Owner & transaction history
Savlan Hc2 Edison In LLC · 4 yrs held
Savlan Hc2 Edison In LLC
since 2022
Last sale
$8.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.0M
+90.0%
Auto repair, garage
$5.0M
+60.2%
Apartment house (5+ units)
$5.0M
+57.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mishawaka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mishawaka submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$8,110,000
ML approach
$7,790,000
CAP Approach
CAP Return
Estimation
6%
$8,070,000
6.5%
$7,450,000
7%
$6,920,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,985,000
Change: +90% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,045,000
Change: +60% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,965,000
Change: +58% · Conversion: Moderate
Blend value · Realmo final
$8.11M
Range $7.30M – $8.92M · ±10% · vs last sale $8.60M (Jul 28 2022)
Last sale anchor
$8.60M
Jul 28 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$114 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,456
Tax year 2023
Assessed value
$160,500
Assessed 2023
Previous assessed
$160,500
+0.0% YoY
Effective rate
3.40%
On assessed value
Assessed land
$14,400
Assessed improvement
$146,100
Land market value
$14,400
Improvement market value
$146,100
Total market value
$160,500
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1992
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
71,131 SF
Lot
0 ac (9 SF)
APN
71-04-33-426-006.000-005
UPID
US31-2372662
Jurisdiction
ST JOSEPH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$6.0M
AUTO REPAIR, GARAGE
Est. value
$5.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.0M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0 ac
Current owner
From public records · entity-resolved
Savlan Hc2 Edison In LLC
Entity
Mailing address
HOLLYWOOD, FL 33021
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2022
$8,600,000
Savlan Hc2 Edison In LLC
El Medical Center LLC
Special Warranty Deed
$10,000,000 · First Citizens Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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