350 Bittersweet RdMishawaka, IN 46544

  • Retail properties
  • 3,647 SF
For Sale
$1,684,000 View listing

Property Details for 350 Bittersweet Rd

Year built
2005
Construction
TYPE NOT SPECIFIED
Lot size
0.67 AC
Property size (Sq ft)
3,647 SF
Property type
Retail properties
Property subtype
Banks
APN
71-10-18-201-010.000-022
APU
711018201010000022

Description

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.

350 Bittersweet Rd, Mishawaka, Indiana

Location Insight

City
Mishawaka
County
St. Joseph
State
Indiana
Latitude
41.6661
Longitude
-86.1089
CBSA code
43780
CBSA name
SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,454
$114,700
$467,100
$581,800
-
$114,700
$467,100
$581,800

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