Sign Up Successful!
You now have access to more from Realmo!
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

    308 Walnut St South Bend, IN 46601-2652

    • Office Properties & Spaces
    • 3,060 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2940071
    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

    • Brown John N / Church
    • On Angel's Wings / Place Of Worship
    • Gethsemane Church of God / Church

    Property Details for 308 Walnut St

    Year built
    1910
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    3,060 SF
    Property type
    Office Properties & Spaces
    APN
    71-08-11-161-001.000-026
    APU
    710811161001000026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $188,000
      Market price range: $82.2k - $324k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $210,000
      Current use
      RETAIL STORES
      $275,000
      Change: +32% Conversion: Easy
      AUTO REPAIR, GARAGE
      $230,000
      Change: +12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.2702
    Latitude
    41.6729
    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
    $0.00
    $8,900
    $71,300
    $80,200
    -
    $8,900
    $71,300
    $80,200

    Comparable in this City

    • Value Estimation
      $265,000
      109,570 SF

      427 Main St

      OFFICE (GENERAL) • 109,570 SF
      427 Main St, South Bend, IN 46601-1220
      View Details
    • Value Estimation by Request
      20,293 SF

      601 Michigan St

      OFFICE (GENERAL) • 20,293 SF
      601 Michigan St, South Bend, IN 46601-2411
      View Details
    • Value Estimation by Request
      28,980 SF

      125 Lafayette Blvd

      OFFICE (GENERAL) • 28,980 SF
      125 Lafayette Blvd, South Bend, IN 46601-1574
      View Details
    • Value Estimation
      $565,000
      86,586 SF

      100 Greenlawn

      OFFICE (GENERAL) • 86,586 SF
      100 Greenlawn, South Bend, IN 46601
      View Details
    • Value Estimation
      $670,000
      84,440 SF

      133 Main 205th Jefferson

      OFFICE (GENERAL) • 84,440 SF
      133 Main 205th Jefferson, South Bend, IN 46601
      View Details
    • Value Estimation
      $265,000
      16,115 SF

      1151 Michigan St

      OFFICE (GENERAL) • 16,115 SF
      1151 Michigan St, South Bend, IN 46601-3427
      View Details

    Similar Nearby for Sale

    • $700,000
      22,810 SF

      Historic Mixed-Use Building For Sale

      Four-story building in downtown South Bend with retail and office.
      235 S Michigan St, South Bend, IN 46601
      View Details
    • $1,104,572
      5,362 SF

      South Bend Investment Opportunity

      NNN leased investment property near Notre Dame with scheduled rental increases.
      926 E Jefferson Blvd, South Bend, IN 46601
      View Details
    • Contact for pricing

      Historic Mixed-Use Hibberd Building

      Historic mixed-use property in South Bend's Central Business District.
      321-325 S Main St, South Bend, IN 46601
      View Details
    • New
      $199,000
      5,480 SF

      Spacious Multi-Use Downtown Property

      Six-bedroom property in downtown South Bend with flexible usage options.
      314 N Taylor St, South Bend, IN 46601
      View Details
    • $1,600,000

      Cross-Dock Facility with 60 Doors

      Divisible cross-dock and warehouse facility with convenient central location.
      815 W Sample St, South Bend, IN 46601
      View Details
    • $699,900
      33,865 SF

      Secured Storage Warehouse For Sale

      Warehouse with fenced, gated outdoor storage and loading docks.
      1910 Lincoln Way W, South Bend, IN 46601
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      133,939 SF

      Key Bank Building: South Bend Office Space

      Prestigious South Bend office space, flexible layouts.
      202 Michigan St, South Bend, IN 46601
      View Details
    • $15 SF/Yr
      17,987 SF

      Downtown South Bend Office Building

      Prime Office Space, 17,987 SF Available
      205 Jefferson Blvd, South Bend, IN 46601
      View Details
    • $10 SF/Yr
      115,000 SF

      Jefferson Centre Office Space

      Downtown South Bend Office & Retail
      105 Jefferson Blvd, South Bend, IN 46601
      View Details
    • $25 SF/Yr
      100,000 SF

      Liberty Tower Executive Suites

      South Bend, IN Office Space Available
      213 Washington St, South Bend, IN 46601
      View Details
    • $22 SF/Yr
      99,367 SF

      100 Wayne St

      Office Properties & Spaces • 99,367 SF
      100 Wayne St, South Bend, IN 46601
      View Details
    • $15 SF/Yr
      12,000 SF

      South Bend Executive Office Suites

      Premium Office Space, South Bend, IN
      100 South St, South Bend, IN 46601
      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.
    308 Walnut St
    South Bend, IN 46601-2652
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.