2623 Lincoln WaySouth Bend, IN 46628

Property Details for 2623 Lincoln Way

Year built

1958

Construction

TYPE NOT SPECIFIED

Lot size

0.51 AC

Property size (Sq ft)

7,530 SF

Property type

Commercial real estate

APN

71-08-03-177-016.000-026

APU

710803177016000026

Description

This 7,200 square foot flex space property at 2623 Lincoln Way W, South Bend, IN 46628, is a versatile commercial opportunity. The building features a well-equipped automotive repair shop with four bays. Two bays include two-post hydraulic hoists, one bay has a drive-on hydraulic hoist, and one bay is a non-hoist bay. The shop also includes a customer waiting area and a sizable air compressor room with a functioning air compressor. A substantial 4,900 square foot warehouse or open space area is also available, offering ample storage or production space. This area further benefits from a two-post hydraulic hoist, adding to its functionality. The property also includes three offices, three restrooms, a newly installed furnace, and radiant tube heating for efficient climate control. The parking lot has recently been refreshed. The property's location is convenient, with cross-street access via N. Kaley St. This property is perfect for a variety of businesses seeking a combination of workshop, storage, and office space. The existing automotive equipment presents a significant advantage for businesses in the automotive repair or related industries.

• CAP approach

  CAP return

  Valuation

  6%

  $1,501,640

  6.5%

  $1,386,130

  7%

  $1,287,120

• Comparable approach

  Method

  Valuation

  Relative Method

  $980,782

  Geo Method

  $980,782

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,617,740

  Retail / Commercial

  $1,364,140

  Mixed-Use / Specialty

  $1,376,440

  Hospitality / Lodging

  $1,032,190

  Office

  $1,386,130

  Institutional / Educational

  $1,437,070

  Residential Income

  $1,681,370

  Multifamily

  $1,921,420

  Automotive / Energy

  $1,231,780

  Parking / Income-Based Land

  $408,118

  Restaurant / Food Service

  $752,515

  Healthcare / Senior Housing

  $1,393,910

Location Insight

City

South Bend

County

St. Joseph

State

Indiana

Latitude

41.6896

Longitude

-86.2868

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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