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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Warehouses
3371 Cleveland Rd South Bend, IN 46628-9780
Entity Owned
~
Est. High Equity
Property ID
US31-1341496
Property summary
AI-generated overview
Capital Centre, located at 3371 W Cleveland Rd in South Bend, Indiana, presents a unique opportunity for businesses seeking flexible space. This multi-tenant property, totaling 44,493 square feet, offers a variety of configurations suitable for executive offices, flex space, warehouse, and distribution operations. Currently, 4,081 square feet of space is immediately available. Built in 1988 and renovated in 1999, the property sits on a 5.3-acre lot and provides ample parking with 200 spaces. The building is zoned D - Light Industrial, ensuring suitability for a range of commercial uses. Located in the Blackthorn Development Area of St. Joseph County, this property benefits from convenient access to major transportation routes. Utilities are municipal, and suites are separately metered for efficient cost management. The property's features include abundant on-site parking, making it an attractive option for employees and clients alike. This versatile space offers a blend of modern amenities and functional design, ideal for businesses seeking a strategic location in South Bend's thriving commercial landscape. The zip code is 46628.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
TYPE NOT SPECIFIED
Total area
13,644 SF
Lot
5.3 ac (230,868 SF)
APN
71-03-21-426-003.000-009
UPID
US31-1341496
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
-
Lift Solutions Equipment Supplier Machine Repair Service
-
Creative Dance N' Training Center
-
U93 Radio Radio Station Telecommunications Service
-
Artistic Media Partners Radio Station Telecommunications Service
-
Channah Klor Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$862k
Blend (final)
Blend
$855k
Owner & transaction history
Capital Center Sb LLC
Capital Center Sb LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+109.7%
Auto repair, garage
$1.0M
+77.5%
Commercial (general)
$925,000
+59.0%
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 South Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Bend 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$580,000
Current use
RETAIL STORES
$1,220,000
Change: +110% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,035,000
Change: +78% · Conversion: Easy
COMMERCIAL (GENERAL)
$925,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$855k
Range $770k – $941k · ±10%
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
$63 / 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
$32,277
Tax year 2023
Assessed value
$953,800
Assessed 2023
Previous assessed
$953,800
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$99,300
Assessed improvement
$854,500
Land market value
$99,300
Improvement market value
$854,500
Total market value
$953,800
Applied tax rate
9.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
13,644 SF
Lot
5.3 ac (230,868 SF)
APN
71-03-21-426-003.000-009
UPID
US31-1341496
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
WAREHOUSE, STORAGE Current
Est. value
$580,000
RETAIL STORES
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$925,000
WAREHOUSE, STORAGE Current
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
5.3 ac
Current owner
From public records · entity-resolved
Capital Center Sb LLC
Entity
Mailing address
22500 MADISON RD, SOUTH BEND, IN 46614-9436
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2025
—
Capital Center Sb LLC
Malstaff Trust
Deed
$1,800,000 · First Merchants Bank NA
Nov 15, 2013
—
Malstaff Trust
Linda E Malstaff
Warranty Deed
—
Nov 1, 2010
—
Linda E Malstaff
Joseph A Markley
Personal Representative Deed
—
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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