608 Main st - Storefront Retail/Residential FOR SALE


Mishawaka, IN 46545
$1,299,000 USD
574-360-6881
608 Main st, Mishawaka, IN for Sale
$1,299,000 USD
Storefront Retail/Residential - FOR SALE
1/9
null | 10.4% Cap Rate

608 Main st
Mishawaka, IN 46545


HIGHLIGHTS

  • 100% Leased - Hometown Pharmacy & 5 Upstairs Apartments
  • 1/2 Block from Mishawaka Ave & Mishawaka Riverwalk
  • Just across river from Ironworks Plaza/The Mill Apartments
  • Downtown Mishawaka vibrant and fast-growing
  • Adjacent Parking Lot Included
  • Adjacent to newly constructed Inova Federal Credit Union

OVERVIEW

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 new roof put on in 2021 along with new ceilings and insulation. Owner also has just finished a new maintenance free metal side to the building facing the Inova Credit Union. The property also includes the adjacent parking lot with alley access. Note: There are 3 total parcels (see aerial). 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 soon to open 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: $9,034.54. Tax Year: 2023.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$84 USD /SF

CAP RATE

10.4%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Hometown Pharmacy Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Drug Store, Storefront Retail/Office, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1922

SPRINKLERS

-

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

C-1: Commercial

APN/PARCEL ID

71-09-09-485-007.000-023,71-09-09-485-008.000-023,71-09-09-485-009.000-023

ASK ABOUT THIS PROPERTY

John PiracciniColdwell Banker Commercial Real Estate GroupMore Info
574-360-6881

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John PiracciniColdwell Banker Commercial Real Estate GroupMore Info
574-360-6881

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.