For Sale
$1,684,000

350 Bittersweet RdMishawaka, IN 46544

Mishawaka, IN Net Lease Bank

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a single-tenant, net-leased PNC Bank building located at 350 N Bittersweet Rd, Mishawaka, IN 46544. The 3,475 square foot building, constructed in 2005, sits on a 0.67-acre lot and boasts 17 parking spaces. Currently operating under a lease with a remaining term of 5.2 years (expiring January 31, 2030), the lease commenced January 26, 2005, and includes three, five-year renewal options. The property features a double drive-thru, providing exceptional convenience for customers. The building is an outparcel to a grocery-anchored shopping center, benefiting from high visibility and strong traffic flow in a dominant retail corridor. The property enjoys a 100% occupancy rate, generating a Net Operating Income (NOI) of $109,461, resulting in a 6.50% cap rate and a price per square foot of $484.60. The asking price is $1,684,000. The property's strong tenant, PNC Bank, coupled with its prime location near major universities and excellent demographics, makes this a compelling investment opportunity. Recent improvements include a new roof. The property's parcel number is 71-10-18-201-010.000-022.

Highlights

  • Investment-grade credit tenant, leading retail bank.
  • High-volume deposit accounts, dual drive-thru banking center.
  • Strong demographics, near major universities.
  • Prime retail location with high visibility.
  • Recently extended lease.
  • New roof installed.

Property Details for 350 Bittersweet Rd

Property type
Retail properties, Retail space
Square Feet
3,475 SF
Year Built
2005
Buildings
1
Stories
1
Lot Size (sq. ft)
29,185 SF
Units
1

Location Insight

City
Mishawaka
County
St. Joseph
State
Indiana
Latitude
41.6661944
Longitude
-86.1088359
350 Bittersweet Rd, Mishawaka, Indiana

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350 Bittersweet Rd
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