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    FOR SALE
    Retail space

    608 N Main St, Mishawaka, IN 46545

    10,134 SF 0.13 ac lot Built 1922
    Entity Owned Absentee Owner ~ Est. High Equity
    Property ID
    US31-2336152
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 1922
    Construction WOOD
    Total area 10,134 SF
    Lot 0.13 ac (5,742 SF)
    APN 71-09-09-485-007.000-023
    UPID US31-2336152
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Rasmussen Re Mishawaka LLC
    Rasmussen Re Mishawaka LLC
    since 2026
    1 recorded transaction
    2026
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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