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

    59696 Market St South Bend, IN 46614-4021

    • Warehouses
    • 2,304 SF
    • 6.05 lot acres
    OFF-MARKET
    Last Sale
    Jan 02, 2024
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    6.8%
    Warehouses
    Location Intelligence
    Property ID
    US31-1660766
    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

    • Greenix Pest Control / Pest Control Service
    • Landscapes Unlimited Inc / Landscape Designer / Landscaper

    Property Details for 59696 Market St

    Year built
    1992
    Construction
    WOOD
    Lot size
    6.05 lot acres
    Property size
    2,304 SF
    Property type
    Warehouses
    APN
    71-08-29-427-008.000-010
    APU
    710829427008000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $300,000
      6.5%
      $275,000
      7%
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $164,000
      Market price range: $49.2k - $164k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $205,000
      AUTO REPAIR, GARAGE
      $175,000
      COMMERCIAL (GENERAL)
      $155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.3134
    Latitude
    41.6258
    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
    $1,731
    $52,900
    $21,400
    $74,300
    -
    $52,900
    $21,400
    $74,300

    Comparable in this City

    • Value Estimation
      $870,000
      287,690 SF

      515 Ireland Rd

      WAREHOUSE, STORAGE • 287,690 SF
      515 Ireland Rd, South Bend, IN 46614-3805
      View Details
    • Value Estimation
      $260,000
      240 SF

      Ireland Rd

      STORAGE YARD, OPEN STORAGE • 240 SF
      Ireland Rd, South Bend, IN 46614
      View Details
    • Value Estimation
      $235,000
      4,464 SF

      61300 Sr 931st S

      WAREHOUSE, STORAGE • 4,464 SF
      61300 Sr 931st S, South Bend, IN 46614
      View Details
    • Value Estimation
      $215,000
      1,440 SF

      24685 State Rd 23

      STORAGE YARD, OPEN STORAGE • 1,440 SF
      24685 State Rd 23, South Bend, IN 46614
      View Details
    • Value Estimation
      $280,000
      2,048 SF

      61405 Myrtle Rd

      STORAGE YARD, OPEN STORAGE • 2,048 SF
      61405 Myrtle Rd, South Bend, IN 46614-9223
      View Details
    • Value Estimation
      $650,000
      30,556 SF

      3607 Main St

      WAREHOUSE, STORAGE • 30,556 SF
      3607 Main St, South Bend, IN 46614-1723
      View Details

    Similar Nearby for Sale

    • $295,000
      9,787 SF

      South Bend Industrial Building

      9,787 SF industrial building near downtown South Bend.
      2511 S Main St, South Bend, IN 46614
      View Details
    • $661,323
      12.73 Acres

      59010 Magnolia Rd

      Land • 12.73 Acres
      59010 Magnolia Rd, South Bend, IN 46614
      View Details
    • $61,900
      0.28 Acres

      South Bend Residential Land - $61,900

      Build Your Dream Home! 0.28 Acres, South Bend.
      525 Yoder St, South Bend, IN 46614
      View Details
    • $599,000
      7,280 SF

      Office Building with Security System

      Office building featuring high-tech security and flexible space.
      22988 Ireland Rd, South Bend, IN 46614
      View Details
    • $2,426,400

      Undeveloped Land Parcel For Sale

      Available land parcel totaling approximately 80.88 acres.
      Hawthorne Rd, South Bend, IN 46614
      View Details
    • $699,000

      Commercial Land in South Bend

      9.64 acres of commercial land with utilities on site.
      W Chippewa Ave, South Bend, IN 46614
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      37,256 SF

      South Bend Industrial Warehouse

      37,256 SF Warehouse, Manufacturing Space
      23186 Ireland Rd, South Bend, IN 46614
      View Details
    • $950 /Mo
      1,500 SF

      South Bend Pole Barn Storage

      1500 SF pole barn for storage. No electric.
      1902 E Ireland Rd, South Bend, IN 46614
      View Details
    • $4 SF/Yr
      6,350 SF

      Manufacturing/Distribution Building in Business Center

      1,400,000 SF manufacturing/office building for rent, build-out available.
      701 W Chippewa Ave, South Bend, IN 46614
      View Details
    • Contact for pricing
      115,059 SF

      Broadmoor Plaza Retail Space

      South Bend retail center, 2,100 sq ft available.
      1143 Ireland Rd, South Bend, IN 46614
      View Details
    • $15 SF/Yr
      13,723 SF

      South Bend Medical Office Building

      13,723 SF Medical/Retail Space For Sale/Lease
      2042 Ireland Rd, South Bend, IN 46614
      View Details
    • Contact for pricing

      Renovated Retail Space For Lease

      Recently renovated power center with spaces from 1,200 to 28,000 SF.
      4540 Miami St, South Bend, IN 46614
      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.
    59696 Market St
    South Bend, IN 46614-4021
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.