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Property profile & analytics
FOR LEASE
Office Spaces
635 S Lafayette Blvd South Bend, IN 46601
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US31-1971366
For Lease
1 / 2
$15,135,000
635 S Lafayette Blvd, South Bend, IN 46601
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1934
Construction
TYPE NOT SPECIFIED
Total area
170,456 SF
Lot
8.5 ac (370,260 SF)
APN
71-08-12-351-001.000-026
UPID
US31-1971366
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
-
South Bend - Elkhart Regional Partnership Charitable Organization Social Service Agency
-
Renaissance District Business Park Industrial Park
-
Purdue Polytechnic High School South Bend Vocational School
-
PRINTED CUPS.US (Bike/Boat/Book/etc) Store Printing Service
-
enFocus Inc. Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.08M
Blend (final)
Blend
$15.14M
Owner & transaction history
Rdistrict One LLC · 10 yrs held
Rdistrict One LLC
since 2016
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$15.3M
+31.9%
Auto repair, garage
$12.9M
+11.7%
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
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$11,560,000
Current use
RETAIL STORES
$15,250,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,910,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$15.14M
Range $13.62M – $16.65M · ±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
$89 / 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
$267,196
Tax year 2023
Assessed value
$8,179,700
Assessed 2023
Previous assessed
$8,179,700
+0.0% YoY
Effective rate
3.27%
On assessed value
Assessed land
$384,000
Assessed improvement
$7,795,700
Land market value
$384,000
Improvement market value
$7,795,700
Total market value
$8,179,700
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
For Lease
Year built
1934
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
3
Stories
2
Units
1
Total area
170,456 SF
Lot
8.5 ac (370,260 SF)
APN
71-08-12-351-001.000-026
UPID
US31-1971366
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
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$11.6M
RETAIL STORES
Est. value
$15.3M
AUTO REPAIR, GARAGE
Est. value
$12.9M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1934
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
3
Units
1
Lot
8.5 ac
Current owner
From public records · entity-resolved
Rdistrict One LLC
Entity
Mailing address
635 S LAFAYETTE BLVD, SOUTH BEND, IN 46601-2219
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2016
—
Rdistrict One LLC
Studebaker Building 84 LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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