Property profile

3618 Grape Rd Mishawaka, IN 46545

FOR LEASE
Office Spaces
Property ID
US31-1381784
6,000 SF 2.35 ac lot Built 1979
Entity Owned 2-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 41,900-square-foot flex space in Mishawaka, Indiana, presents a unique investment opportunity. Located at 3618 Grape Road, this single-building property boasts a prime location within University Park, Indiana's second-largest retail trade area, serving a population exceeding 900,000 with a combined buying income of $6 billion. The property, built in 1979, features a versatile layout combining 20,400 square feet of two-level office/retail space with industrial warehouse space. Units are divisible to a minimum of 6,400 square feet, with a maximum contiguous space of 8,900 square feet. The property includes one loading dock and ample parking with 217 spaces. Benefit from high visibility with significant display area on a prominent pylon sign, and capitalize on the substantial daily traffic counts on Grape Road (19,797) and Edison Road (22,288). The property's strategic location, just 2.5 miles from the University of Notre Dame, further enhances its appeal. Nearby developments, including St. Joseph Regional Medical Center's new $350 million campus, contribute to the area's robust economic growth. The property is zoned C-2 Commercial and sits on 2.26 acres of land. The building features an 18-foot ceiling height. This is an ideal opportunity for businesses seeking a high-traffic, well-located space in a thriving market. The property's multiple tenancy allows for flexibility and diverse income streams.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1979
Construction TYPE NOT SPECIFIED
Total area 6,000 SF
Lot 2.35 ac (102,192 SF)
APN 71-09-04-203-003.000-022
UPID US31-1381784

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Advertising Agency Marketing & Advertising
  • (Bike/Boat/Book/etc) Store Grocery & Convenience Store
  • Grocery & Convenience Store Food Market

Location

3618 Grape Rd Mishawaka, IN 46545
Mishawaka metro Census 11506 SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$440k
CAP Approach CAP
$705k
Comparable Approach Comparable
$931k
Blend (final) Blend
$695k

Owner & transaction history

since 2023
2 recorded transactions
2023
Price N/A
2005
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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