350 Bittersweet RdMishawaka, IN 46544
- Retail properties
- 3,647 SF
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.
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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