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    4110 Grape Rd Mishawaka, IN 46545
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    Property profile & analytics

    4110 Grape Rd, Mishawaka, IN 46545

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    • Retail space
    • 8,432 SF
    • 0.92 lot acres
    For Lease
    $12 SF/Yr
    View Listing →
    Commercial Space for Lease For Lease
    $12 SF/Yr

    Commercial Space for Lease

    Commercial property available for lease in Mishawaka, Indiana.

    4110 Grape Rd, Mishawaka, IN 46545
    View Listing
    Property ID
    US31-2293821
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 4110 Grape Rd

    Year built
    2008
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.92 lot acres
    Property type
    Retail space
    APN
    71-04-33-451-001.000-005
    APU
    710433451001000005

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 5, 2022 — Er Miswka LLC Evf Grape Road LLC Warranty Deed $2.5M · Inova FCU
    Jul 11, 2016 — Evf Grape Rd LLC Cascade Holdings LLC Warranty Deed —
    Sep 25, 2014 — Cascade Holdings LLC St Joseph County Sheriff Sheriffs Deed · related —

    Description

    This exceptional retail opportunity presents 14,500 square feet of vacant space within the established Grape & Day Shopping Center, located at 4110 Grape Rd, Mishawaka, IN 46545. The property boasts a total of 30,000 square feet across a single building situated on a generous 2.34-acre lot. This prime location in St. Joseph County offers excellent visibility and accessibility for businesses seeking a thriving retail environment. Multiple spaces are available, with a minimum divisible space of 3,500 square feet and a maximum contiguous space of 6,000 square feet, providing flexibility for various business needs and expansion plans. The property is classified as a retail shopping center with multiple tenancies, indicating a strong potential for synergistic businesses. The address is easily accessible and well-suited for attracting a diverse customer base. This is an ideal location for businesses looking to establish a strong presence in a busy Mishawaka commercial area. The available space presents a unique chance to capitalize on a well-established retail center with significant foot traffic potential. Serious inquiries are encouraged to explore this promising investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,114,000
      Market price range: $275k - $1.11M
      AI Estimate
      $766,000
      Market price range: $232k - $766k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $760,000
      Current use
      AUTO REPAIR, GARAGE
      $640,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mishawaka
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.1866
    Latitude
    41.6978
    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
    $31,498
    $263,300
    $665,400
    $928,700
    -
    $263,300
    $665,400
    $928,700

    Comparable in this City

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    • Value Estimation
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      5650 Grape Rd

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      411 415th E Mckinley Ave

      RETAIL STORES (PERSONAL SERVICES)
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    Similar Nearby for Sale

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      Mishawaka Retail/Industrial Opportunity

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      Mixed-Use Property in Downtown Mishawaka

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      Retail Building in University Park

      21,896 SF retail building in established shopping center.
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      15,000 SF

      Adaptable Building in High-Traffic Area

      Adaptable 15,000 SF building in high-traffic commercial corridor.
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      Commercial Land in High-Traffic Area

      1.17-acre commercial land for development in a busy retail area.
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      Commercial Land with Great Access

      Land with frontage, signalized corner, near retail area.
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    Similar Nearby for Lease

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      2,000 SF

      Retail Space with Drive-Thru

      New construction retail space available for lease or build-to-suit.
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      187,211 SF

      Regional Mall Retail Opportunity

      Regional mall with retail, entertainment, office, and medical opportunities.
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      2,200 SF

      Retail Space in Wilshire Plaza

      Retail space for lease in Mishawaka, Indiana shopping center.
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      86,940 SF

      Retail Space in Mishawaka Plaza

      Retail space available in a busy Mishawaka shopping center.
      5514-5540 Grape Rd, Mishawaka, IN 46545
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      Retail Space in Mishawaka Plaza

      Retail space available in a busy shopping center.
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      View Details
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      3,500 SF

      Retail Space in High-Traffic Area

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      View Details
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    Mishawaka, IN 46545
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    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.

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    4110 Grape Rd, Mishawaka, IN, 46545
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