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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    51650 Prescott Ave South Bend, IN 46637

    • Commercial real estate
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0666119
    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

    • Commercial real estate

    Property Details for 51650 Prescott Ave

    Lot size
    0.22 lot acres
    Property type
    Commercial real estate
    APN
    71-03-13-401-057.000-003

    Description

    This 0.22-acre residential lot is located at 51650 Prescott Ave, Roseland, IN 46637 (APN: 71-03-13-401-057.000-003), offering a peaceful setting within the Audubon Woods community. Situated on the Northwest side of South Bend, this property provides convenient access to the University of Notre Dame, the Indiana/Michigan state line, and the 80-90 Toll Road. Residents enjoy the natural privacy of a quiet neighborhood with abundant nature, while benefiting from city water and sewer services. The low county tax rate and protective covenants contribute to the desirability of this location. The lot is part of a planned community with building restrictions in place. Priced at $65,900, this parcel presents an excellent opportunity for building a new home in a desirable, convenient location. The property is conveniently located in St. Joseph County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.244689072318
    Latitude
    41.744464943266

    Comparable in this City

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    • $1,000,000

      Multifamily Building Near Notre Dame

      Eight-unit multifamily building near the University of Notre Dame.
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    • $280,000
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      Single-Story Home Near Notre Dame

      One-story home near Notre Dame, downtown South Bend, and Mishawaka.
      18391 Crownhill Dr, South Bend, IN 46637
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    • New
      $239,900
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      Income-Producing Duplex Near Campus

      Duplex near shopping, bypass, and campus, sold as-is.
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    • $89,000
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      Commercial Land Near Notre Dame

      2.8 acres with road frontage near Notre Dame and Toll Road.
      51909 N Sr 933 Hwy, South Bend, IN 46637
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    Similar Nearby for Sale

    • $119,000
      0.17 Acres

      South Bend Residential Land - $119K

      Prime South Bend lot, 0.17 acres, near Notre Dame.
      126 Cripe St, South Bend, IN 46637
      View Details
    • $1,500,000
      5.09 Acres

      Prime South Bend Residential Land

      5 Acres, Multi-Family Potential
      18923 Cleveland Rd, South Bend, IN 46637
      View Details
    • $1,000,000

      Multifamily Building Near Notre Dame

      Eight-unit multifamily building near the University of Notre Dame.
      Roseland, IN 46637
      View Details
    • $280,000
      1,432 SF

      Single-Story Home Near Notre Dame

      One-story home near Notre Dame, downtown South Bend, and Mishawaka.
      18391 Crownhill Dr, South Bend, IN 46637
      View Details
    • New
      $239,900
      2,526 SF

      Income-Producing Duplex Near Campus

      Duplex near shopping, bypass, and campus, sold as-is.
      920 Merrill Ct, South Bend, IN 46637
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    • $89,000
      12.80 Acres

      Commercial Land Near Notre Dame

      2.8 acres with road frontage near Notre Dame and Toll Road.
      51909 N Sr 933 Hwy, South Bend, IN 46637
      View Details

    Similar Nearby for Lease

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    • $24 SF/Yr

      Retail Space Near Notre Dame

      Retail space in high-traffic location near Notre Dame.
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    • $16 SF/Yr

      Freestanding Office/Retail Building For Rent

      4,858 SF office/retail building with excellent visibility and parking.
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      South Bend Retail Center Investment

      High-traffic retail space, 6,164 sq ft
      52991 State Hwy 933, South Bend, IN 46637
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    51650 Prescott Ave
    South Bend, IN 46637
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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.

    More about this property
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