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    746 Meade St South Bend, IN 46619
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    Property profile & analytics

    746 Meade St, South Bend, IN 46619

    View on Map
    • Commercial real estate
    • 8,620 SF
    • 0.22 lot acres
    Off-Market
    Property ID
    US31-2105797
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 746 Meade St

    Year built
    1916
    Lot size
    0.22 lot acres
    Property type
    Commercial real estate
    APN
    71-08-10-381-006.000-026

    Description

    This exceptional mixed-use property, located at 746 S Meade Street in South Bend, Indiana, presents a unique investment opportunity. Boasting a substantial 8,620 square feet, this two-story building, constructed in 1916, sits on a 0.22-acre lot (APN: 71-08-10-381-006.000-026). Its former use as a department store, with living quarters above, offers immense versatility. The main level features adaptable spaces ideal for offices or meeting rooms, while the upper level is suited for various uses, such as after-school programs or residential apartments. A partially finished basement adds further potential. The property also includes a garage, an office, and a workshop, enhancing its functionality. A fenced side lot provides ample space for parking or a playground. The solid brick construction speaks to its durability, although some renovations are needed. Conveniently located on South Bend's west side, this property offers easy access to downtown and State Road 23, making it an attractive option for a wide range of businesses or community initiatives. The asking price is $99,900. This property is perfect for those seeking a substantial building with significant redevelopment potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Bend
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.2854043
    Latitude
    41.6667725

    Comparable in this City

    • $189,000
      Pending

      South Bend Mixed-Use Opportunity

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      192,000 SF

      Historic Singer Sewing Machine Building

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      Vacant Land Near Mixed-Use Corridor

      0.89 acre vacant land parcel near commercial and residential areas.
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      Land Near U.S. 20 Bypass

      Land with utilities being installed near major transportation routes.
      59010 Magnolia Rd, South Bend, IN 46619
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      Vacant Land Development Opportunity

      Vacant land on high-traffic corridor, ready for development.
      17 Western Ave, South Bend, IN 46619
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      112,250 SF

      Modern Industrial Facility For Sale

      Purpose-built industrial facility designed for manufacturing, storage, and distribution.
      445 N Sheridan St, South Bend, IN 46619
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    Similar Nearby for Sale

    • $189,000
      Pending

      South Bend Mixed-Use Opportunity

      Unique mixed-use property with high visibility and endless opportunities.
      1530 S Walnut St, South Bend, IN 46619
      View Details
    • Contact for pricing
      192,000 SF

      Historic Singer Sewing Machine Building

      Iconic South Bend building with 192,000 sq ft available.
      2015 W Western Ave, South Bend, IN 46619
      View Details
    • Contact for pricing

      Vacant Land Near Mixed-Use Corridor

      0.89 acre vacant land parcel near commercial and residential areas.
      23761 Western Ave, South Bend, IN 46619
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    • Contact for pricing

      Land Near U.S. 20 Bypass

      Land with utilities being installed near major transportation routes.
      59010 Magnolia Rd, South Bend, IN 46619
      View Details
    • Contact for pricing

      Vacant Land Development Opportunity

      Vacant land on high-traffic corridor, ready for development.
      17 Western Ave, South Bend, IN 46619
      View Details
    • Contact for pricing
      112,250 SF

      Modern Industrial Facility For Sale

      Purpose-built industrial facility designed for manufacturing, storage, and distribution.
      445 N Sheridan St, South Bend, IN 46619
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr

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      Prime South Bend Retail Space

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      Retail Space in Starbucks Center

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      4921 W Western Ave, South Bend, IN 46619
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    South Bend, IN 46619
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    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.

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