350 Bittersweet RdMishawaka, IN 46544

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

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

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