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Mishawaka,IN 46545
Key Details
Property Type Commercial
Sub Type Other/Unknown
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202429043
Year Built 1927
Annual Tax Amount $9,034
Tax Year 2023
Lot Size 0.270 Acres
Property Sub-Type Other/Unknown
Property Description
Fantastic investment or redevelopment opportunity in the vibrant and fast-growing downtown district of Mishawaka, adjacent to the newly constructed Inova Federal Credit Union. Located 1/2 a block from heavily traveled intersection of N Main St (25,000 cars daily) and Mishawaka Ave (10,000 cars daily, INDOT Traffic Counts), the building is completely rented out with Hometown Pharmacy (newly signed 3-year lease) on the retail level and 5 apartments upstairs. Seller had a completely new roof done with a 20-year warranty in March of this year. Owner has just finished a new maintenance free metal siding on the building facing the Inova Credit Union as well. The property also includes the adjacent parking lot with alley access. Note: There are 3 total parcels (see aerial). Current Net Operating Income: $135,988.26 (Full breakdown available with a signed Confidentiality Agreement). The property boasts excellent location and visibility, with the Mishawaka Riverwalk just across Mishawaka Ave. Also, across the river (0.2 miles) is the newly developed Ironworks Plaza and The Mill apartments which includes the Mishawaka Public House, Sun King Brewery, and Social Cantina. The Mill Phase II is currently in the works along with the now opened Avalon Apartments. The property is also only 2 miles (6 mins) from the Main St/Grape Rd Shopping Corridor, 2.5 miles (7 mins) from IN-331/Capital Ave, and 5 miles (15 mins) to the University of Notre Dame. Zoned C-1: Commercial. Total Taxes for all 3 parcels: $7,143.00.
Location
State IN
County St. Joseph County
Area St. Joseph County
Interior
Flooring Carpet,Tile
Exterior
Roof Type Flat
Building
Story 2
New Construction No