Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    51980 Portage Rd South Bend, IN 46628-9369

    • Theaters & concert halls
    • 2,800 SF
    • 0.99 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1493781
    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

    • Abundant Life Fellowship Church / Church

    Property Details for 51980 Portage Rd

    Year built
    1900
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.99 lot acres
    Property size
    2,800 SF
    Property type
    Theaters & concert halls
    APN
    71-03-15-300-018.000-008
    APU
    710315300018000008

    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
    -86.294
    Latitude
    41.7377
    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
    $0.00
    $19,900
    $86,600
    $106,500
    -
    $19,900
    $86,600
    $106,500

    Comparable in this City

    • Value Estimation by Request
      5,528 SF

      1318 Lincoln W Way

      THEATER (MOVIE) • 5,528 SF
      1318 Lincoln W Way, South Bend, IN 46628-2416
      View Details
    • Value Estimation
      $505,000
      10,369 SF

      116 Birdsell St

      THEATER (MOVIE) • 10,369 SF
      116 Birdsell St, South Bend, IN 46628-2106
      View Details
    • Value Estimation by Request
      6,024 SF

      1523 Washington St

      THEATER (MOVIE) • 6,024 SF
      1523 Washington St, South Bend, IN 46628-2157
      View Details
    • Value Estimation by Request
      2,300 SF

      26205 Edison Rd

      THEATER (MOVIE) • 2,300 SF
      26205 Edison Rd, South Bend, IN 46628-4836
      View Details
    • Value Estimation by Request
      3,005 SF

      2113 Elwood Ave

      THEATER (MOVIE) • 3,005 SF
      2113 Elwood Ave, South Bend, IN 46628-2927
      View Details
    • Value Estimation by Request
      7,767 SF

      1502 Washington St

      THEATER (MOVIE) • 7,767 SF
      1502 Washington St, South Bend, IN 46628-2156
      View Details

    Similar Nearby for Sale

    • $65,900
      0.23 Acres

      South Bend Residential Land - $65,900

      0.23-acre lot, build your dream home.
      25721 Scent Trl, South Bend, IN 46628
      View Details
    • $3,200,000
      93.12 Acres

      Prime 93-Acre Farm in South Bend

      Spacious Indiana farmland, ideal for development.
      56969 Orange Rd, South Bend, IN 46628
      View Details
    • $65,900
      0.27 Acres

      South Bend Residential Land - $65,900

      0.27-acre lot in Augustine Lake Estates
      52628 Common Eider Trl, South Bend, IN 46628
      View Details
    • $65,900
      0.26 Acres

      South Bend Residential Land - $65,900

      0.26-acre lot, Augustine Lake Estates
      52754 Common Eider Trl, South Bend, IN 46628
      View Details
    • $899,000
      7.83 Acres

      Portage Road Commercial Land

      7.83 Acres, High-Traffic Location
      3931 Portage Ave, South Bend, IN 46628
      View Details
    • $970,000
      20.60 Acres

      Prime South Bend Land - 20.6 Acres

      Agricultural & Residential Potential, $970,000
      51521 Orange Rd, South Bend, IN 46628
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      15,096 SF

      6252 Business Center Drive

      Creative Office Space, 15,096 SF
      6252 Business Center Dr, South Bend, IN 46628
      View Details
    • $4 SF/Yr
      100,000 SF

      South Bend Warehouse Space Available

      100,000 SF warehouse with docks and grade-level door.
      3310 William Richardson Dr, South Bend, IN 46628
      View Details
    • $16 SF/Yr
      1,392 SF

      Retail Space For Lease

      1,392 SF retail space available for lease.
      3903 Portage Ave, South Bend, IN 46628
      View Details
    • Contact for pricing

      Retail Space at Lincoln Way

      Retail space for sublease at a hard corner location.
      2401 Lincoln Way W, South Bend, IN 46628
      View Details
    • $18 SF/Yr
      18,747 SF

      3903 Portage Rd

      Lifestyle centers • 18,747 SF
      3903 Portage Rd, South Bend, IN 46628
      View Details
    • Contact for pricing
      10,772 SF

      Former Family Dollar Retail Space

      Sublease opportunity in densely populated LaSalle Area.
      2401-2421 Lincoln Way W, South Bend, IN 46628
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    51980 Portage Rd
    South Bend, IN 46628-9369
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.