608 N Main St, Mishawaka, IN 46545
For Sale
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This exceptional commercial property, located at 608 N Main Street in Mishawaka, Indiana, presents a fantastic investment or redevelopment opportunity. Situated in the thriving downtown area, this property benefits from its proximity to the newly constructed Inova Federal Credit Union and enjoys exceptional visibility due to its location just half a block from the heavily trafficked intersection of N Main Street (25,000 cars daily) and Mishawaka Avenue (10,000 cars daily, per INDOT Traffic Counts). The building is currently fully occupied, featuring Hometown Pharmacy on the ground floor and five apartments on the upper levels. Recent improvements include a new roof (2021), new ceilings and insulation, and a new maintenance-free metal siding facing the Inova Credit Union. The sale includes an adjacent parking lot with convenient alley access. The property comprises three parcels totaling 0.27 acres (see aerial). Its prime location offers excellent visibility and proximity to the Mishawaka Riverwalk, across Mishawaka Avenue. Furthermore, it's a short distance (0.2 miles) from the newly developed Ironworks Plaza and The Mill apartments, which house the Mishawaka Public House, Sun King Brewery, and Social Cantina. Future development in the area includes The Mill Phase II and the soon-to-open Avalon Apartments. Convenient access to major roadways is also a key advantage, with the Main Street/Grape Road Shopping Corridor (2 miles, 6 minutes), IN-331/Capital Avenue (2.5 miles, 7 minutes), and the University of Notre Dame (5 miles, 15 minutes) all within easy reach. The property is zoned C-1 (Commercial) and has a total tax assessment of $9,034.54 for 2023 across all three parcels.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.