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    Property profile & analytics

    3702 Progress Dr South Bend, IN 46628-1612

    • Manufacturing properties
    • 31,557 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimation
    $490,000
    Last Sale
    Oct 24, 2024
    Location Intelligence
    Property ID
    US31-1503001
    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

    • Hoosier Penn Oil Co / Oil & Natural Gas Company

    Property Details for 3702 Progress Dr

    Year built
    1968
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.86 lot acres
    Property size
    31,557 SF
    Property type
    Manufacturing properties
    APN
    71-03-33-401-002.000-026
    APU
    710333401002000026

    Description

    This exceptional industrial property, located at 3702 Progress Drive in South Bend, Indiana, presents a compelling investment opportunity. The 31,557-square-foot warehouse, built in 1968, sits on a 2.32-acre lot and is offered at $1,750,000 ($55.46/sq ft). The property features a spacious 3,200-square-foot air-conditioned front office area, ideal for administrative functions and client interaction, complemented by a 28,357-square-foot warehouse space. Efficient loading and unloading are facilitated by one exterior loading dock and two overhead doors. The building is zoned for Light Manufacturing & Assembly (340). Its strategic location offers unparalleled access to major transportation arteries, including proximity to South Bend International Airport, US-31, and the I-80/90 toll road, making it an attractive option for businesses requiring seamless logistics and distribution capabilities. Ample parking is available on-site. The property is currently vacant and available for immediate occupancy under a NNN lease. This single-story building presents a rare opportunity to acquire a well-maintained industrial space in a prime South Bend location.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $500,000

    • CAP approach

      CAP return
      Estimation
      6%
      $500,000
      6.5%
      $485,000
      7%
      $500,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $540,000
      Geo Method
      $540,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $500,000
      Retail
      $515,000
      Mixed-Use
      $440,000
      Hospitality
      $495,000
      Educational
      $525,000
      Residential Income
      $475,000
      Energy
      $540,000
      Income-Based Land
      $510,000
      Food Service
      $545,000

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.3008
    Latitude
    41.7008
    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
    $8,379
    $17,100
    $230,500
    $247,600
    -
    $17,100
    $230,500
    $247,600

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      14,400 SF

      3601 Mcgill St

      MANUFACTURING (LIGHT) • 14,400 SF
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      View Details

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    3702 Progress Dr
    South Bend, IN 46628-1612
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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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