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

    5550 Cleveland Rd South Bend, IN 46628-9707

    • Truck terminals
    • 58,827 SF
    • 26.70 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2021
    $5,900,000
    Value Estimations
    $5,910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2228333
    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

    • Holland / Shipping And Mailing Service / Shipping Company

    Property Details for 5550 Cleveland Rd

    Year built
    2004
    Construction
    TYPE NOT SPECIFIED
    Lot size
    26.70 lot acres
    Property size
    58,827 SF
    Property type
    Truck terminals
    APN
    71-03-20-176-001.000-009
    APU
    710320176001000009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,935,000
      ML approach
      $5,795,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,120,000
      APARTMENT HOUSE (5+ UNITS)
      $5,040,000
      RESTAURANT
      $4,965,000
      COMMERCIAL (GENERAL)
      $3,855,000
      AUTO REPAIR, GARAGE
      $3,840,000

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.3276
    Latitude
    41.7326
    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
    $139,065
    $591,000
    $3,518,500
    $4,109,500
    -
    $591,000
    $3,518,500
    $4,109,500

    Comparable in this City

    • Value Estimation
      $3,270,000
      211,922 SF

      5115 Dylan Dr

      TRUCK TERMINAL (MOTOR FREIGHT) • 211,922 SF
      5115 Dylan Dr, South Bend, IN 46628-6500
      View Details
    • Value Estimation
      $1,365,000
      71,376 SF

      4535 Lincoln W Way

      TRUCK TERMINAL (MOTOR FREIGHT) • 71,376 SF
      4535 Lincoln W Way, South Bend, IN 46628-5528
      View Details
    • Value Estimation
      $3,230,000
      210,420 SF

      5545 Chet Waggoner

      TRUCK TERMINAL (MOTOR FREIGHT) • 210,420 SF
      5545 Chet Waggoner, South Bend, IN 46628-1256
      View Details
    • Value Estimation by Request
      12,780 SF

      1331 Iowa St

      TRUCK TERMINAL (MOTOR FREIGHT) • 12,780 SF
      1331 Iowa St, South Bend, IN 46628-1434
      View Details
    • Value Estimation
      $1,295,000
      62,762 SF

      5150 Dylan Dr

      TRUCK TERMINAL (MOTOR FREIGHT) • 62,762 SF
      5150 Dylan Dr, South Bend, IN 46628-6500
      View Details
    • Value Estimation by Request
      9,300 SF

      4650 Ameritech Dr

      TRUCK TERMINAL (MOTOR FREIGHT) • 9,300 SF
      4650 Ameritech Dr, South Bend, IN 46628-9122
      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
      View Details
    • $6,300,000
      85.50 Acres

      South Bend Industrial Land - 85.5 Acres

      Prime Industrial Land, US-31 Bypass Access
      53438 Olive St, South Bend, IN 46628
      View Details
    • $747,600
      10.68 Acres

      International Industrial Land, South Bend

      10.68-acre industrial lot, prime location.
      Area D Nimtz Pkwy, South Bend, IN 46628
      View Details
    • $359,000

      Prime Elkhart Industrial Land

      1.73-acre industrial outlot, excellent location.
      0 1.73 Ac Outlot Sr 19 Hwy, South Bend, IN 46628
      View Details
    • Contact for pricing
      45.82 Acres

      South Bend Industrial Land

      45 Acres, Prime Location, IL Zoning
      24355 Edison Rd, South Bend, IN 46628
      View Details
    • $1,427,800
      22.00 Acres

      South Bend Industrial Land - 22 Acres

      Prime South Bend location, ideal for various uses. Owner financing available.
      0 Viridian Dr, South Bend, IN 46628
      View Details

    Similar Nearby for Lease

    • $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
      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
      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
    • $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
    • Contact for pricing

      South Bend Distribution Center Sublease

      198,000 SF distribution center with temperature control and ample amenities.
      5855 Carbonmill Dr, South Bend, IN 46628
      View Details
    • Contact for pricing
      50,000 SF

      South Bend Industrial Warehouse

      50,000 SF Warehouse, Expandable
      0 Dylan Dr, 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.
    5550 Cleveland Rd
    South Bend, IN 46628-9707
    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.