111 LincolnwayMishawaka, IN 46544

Property Details for 111 Lincolnway

Year built

1975

Construction

TYPE NOT SPECIFIED

Lot size

0.06 AC

Property size (Sq ft)

8,860 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

71-09-16-280-017.000-023

APU

710916280017000023

Description

This exceptional 3,000 square foot retail space, ideally suited for a restaurant or bar, presents a compelling investment opportunity in the heart of downtown Mishawaka. Located on Lincolnway East, this single-tenant property boasts excellent visibility and accessibility, situated conveniently near the intersection of Main and Lincolnway. The property features a substantial, oversized kitchen fully equipped with a powerful exhaust hood, ensuring efficient and effective food preparation. Further enhancing its functionality are a spacious walk-in cooler and a walk-in freezer, providing ample storage for ingredients and supplies. Beyond its operational advantages, the property benefits from its proximity to the Mishawaka Riverwalk, adding to its attractiveness and potentially drawing in foot traffic. The monthly rent is $3,750.00, NNN. This turnkey space offers immediate occupancy and the potential for significant return on investment. The combination of prime location, ample square footage, and well-appointed kitchen facilities makes this an exceptional opportunity for a discerning entrepreneur seeking to establish a thriving business in a vibrant downtown setting. Don't miss this chance to secure a highly desirable commercial property in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,144,370

  6.5%

  $1,979,410

  7%

  $1,838,030

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,350,200

  Geo Method

  $1,350,200

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,081,090

  Retail / Commercial

  $1,605,770

  Mixed-Use / Specialty

  $1,620,380

  Hospitality / Lodging

  $1,215,290

  Office

  $1,631,930

  Institutional / Educational

  $1,691,810

  Multifamily

  $2,261,280

  Automotive / Energy

  $1,450,120

  Parking / Income-Based Land

  $480,330

  Restaurant / Food Service

  $886,166

  Healthcare / Senior Housing

  $1,640,820

Location Insight

City

Mishawaka

County

St. Joseph

State

Indiana

Latitude

41.6608

Longitude

-86.18

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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