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

    55024 Mayflower Rd South Bend, IN 46628-5128

    • Warehouses
    • 5,100 SF
    • 1.69 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2119962
    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

    • All Secure Self Storage / Self-Storage Facility / Automobile Storage Facility

    Property Details for 55024 Mayflower Rd

    Year built
    1995
    Construction
    WOOD
    Lot size
    1.69 lot acres
    Property size
    5,100 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    71-08-05-201-001.000-025
    APU
    710805201001000025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $322,000
      Market price range: $86.8k - $322k
      AI Estimate
      $170,000
      Market price range: $73.0k - $171k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $220,000
      Current use
      AUTO REPAIR, GARAGE
      $385,000
      Change: +78% Conversion: Easy
      COMMERCIAL (GENERAL)
      $345,000
      Change: +59% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.3217
    Latitude
    41.693
    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
    $6,327
    $63,300
    $189,500
    $252,800
    -
    $63,300
    $189,500
    $252,800

    Comparable in this City

    • Value Estimation
      $455,000
      7,400 SF

      6482 Brick Rd

      MINI-WAREHOUSE, STORAGE • 7,400 SF
      6482 Brick Rd, South Bend, IN 46628-9738
      View Details
    • Value Estimation
      $310,000
      3,600 SF

      3303 Portage Rd

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      3303 Portage Rd, South Bend, IN 46628-3657
      View Details
    • Value Estimation
      $750,000
      26,250 SF

      22905 Edison Rd

      MINI-WAREHOUSE, STORAGE • 26,250 SF
      22905 Edison Rd, South Bend, IN 46628
      View Details
    • Value Estimation
      $300,000
      4,600 SF

      2713 Bendix Dr

      MINI-WAREHOUSE, STORAGE • 4,600 SF
      2713 Bendix Dr, South Bend, IN 46628-3419
      View Details
    • Value Estimation
      $765,000
      143,890 SF

      5102 Dylan Dr

      WAREHOUSE, STORAGE • 143,890 SF
      5102 Dylan Dr, South Bend, IN 46628-6503
      View Details
    • Value Estimation
      $905,000
      210,420 SF

      5448 Dylan Dr

      WAREHOUSE, STORAGE • 210,420 SF
      5448 Dylan Dr, South Bend, IN 46628-7050
      View Details

    Similar Nearby for Sale

    • $17,500,000
      225,000 SF

      Industrial Warehouse with Highway Access

      225,000 SF warehouse on 19.6 acres with highway access.
      6701 W Cleveland Rd, South Bend, IN 46628
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    • $815,000
      8,550 SF

      Flex Building with Outdoor Storage

      8,550 SF flex building featuring remodeled office and storage.
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    • $442,000
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      US-20 Business Land Opportunity

      11.32 Acres, High Visibility, South Bend
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    • $627,000
      7.84 Acres

      Georgia Ave Medical Office Space

      Wheaton, MD: Prime Medical Office for Lease
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    • $6,500,000
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      South Bend Industrial Land - 100 Acres

      Prime Industrial Land, $65k/Acre, I-Industrial Zoning
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      View Details
    • $6,300,000
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      South Bend Industrial Land - 85.5 Acres

      Prime Industrial Land, US-31 Bypass Access
      53438 Olive St, South Bend, IN 46628
      View Details

    Similar Nearby for Lease

    • $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
    • $4 SF/Yr
      44,493 SF

      Capital Centre: South Bend Office Space

      Versatile South Bend industrial/office space available.
      3371 Cleveland Rd, South Bend, IN 46628
      View Details
    • $7 SF/Yr
      25,000 SF

      Flexible Space in South Bend

      Warehouse and industrial space with flexible layout options for lease.
      2303 N Bendix Dr, South Bend, IN 46628
      View Details
    • $7 SF/Yr
      24,600 SF

      Manufacturing and Warehouse Facility Available

      Clean, well-maintained manufacturing/warehouse facility with renovated office space for lease.
      24355 Edison Rd, South Bend, IN 46628
      View Details
    • $4 SF/Yr
      57,040 SF

      Industrial Flex Space Near US-31

      Industrial flex space with offices, warehouse, and high power.
      3431 William Richardson Dr, South Bend, IN 46628
      View Details
    • $7 SF/Yr

      Industrial Space Available Q1 2026

      32,000 SF industrial suites available Q1 2026 in South Bend.
      3507 Olive Rd, South Bend, IN 46628
      View Details
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    55024 Mayflower Rd
    South Bend, IN 46628-5128
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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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