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Property profile & analytics
OFF-MARKET
Estimated value
$2,645,000
Office Spaces
635 Main St South Bend, IN 46601-2223
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-1473592
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1925
Construction
CONCRETE
Total area
168,245 SF
Lot
0.91 ac (39,640 SF)
APN
71-08-12-352-001.000-026
UPID
US31-1473592
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
Current use
Occupant on record · Public records
-
Studebaker Administration Building Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.00M
Blend (final)
Blend
$2.65M
Owner & transaction history
Studebaker Admin Qozb LLC · 1 yrs held
Studebaker Admin Qozb LLC
since 2025
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Bend submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$16 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,086
Tax year 2023
Assessed value
$504,900
Assessed 2023
Previous assessed
$504,900
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$58,400
Assessed improvement
$446,500
Land market value
$58,400
Improvement market value
$446,500
Total market value
$504,900
Applied tax rate
26.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1925
Construction
CONCRETE
Heating
NONE
Stories
4
Total area
168,245 SF
Lot
0.91 ac (39,640 SF)
APN
71-08-12-352-001.000-026
UPID
US31-1473592
Jurisdiction
ST JOSEPH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1925
Construction
CONCRETE
Heating
NONE
Stories
4
Lot
0.91 ac
Current owner
From public records · entity-resolved
Studebaker Admin Qozb LLC
Entity
Mailing address
22 E JACKSON ST, PHOENIX, AZ 85004-2442
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2025
—
Studebaker Admin Qozb LLC
—
Deed
related
$5,500,000 · Milo LLC
Feb 21, 2025
—
Studebaker Admin Qozb LLC
—
Deed
related
$1,470,000 · South Bend Revolving Business
Jan 30, 2025
—
Studebaker Admin Qozb LLC
Studebaker Center LLC
Special Warranty Deed
$1,470,000 · South Bend Revolving Business
Jul 9, 2009
—
Studebaker Center LLC
Heritage Restoration & Development
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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