227 Main StSouth Bend, IN 46601

Property Details for 227 Main St

Year built

1928

Construction

TYPE NOT SPECIFIED

Lot size

0.50 AC

Property size (Sq ft)

21,768 SF

Property type

Office properties

APN

71-08-12-156-014.000-026

APU

710812156014000026

Description

This three-story, Class B office building at 227 S Main St, South Bend, IN 46601, offers 18,298 square feet of space, with 8,953 square feet currently vacant. Built in 1928, the property features a total of 42 parking spaces and is situated on a 0.17-acre lot within the South Bend Central Business District. Flexible lease options are available, ranging from 1,000 to 5,312 contiguous square feet. The building's prime location offers easy access to courthouses, a library, and the County City Building. Rent includes taxes, utilities, daily cleaning, snow removal, trash disposal, insurance, and surface parking lot use. Tenants are responsible for their own liability insurance, telephone, and data services. The available 5,312 square foot space is located on the third floor. This is an excellent opportunity for businesses seeking a well-maintained, centrally located office space in a vibrant downtown setting. The property's APN is 71-08-12-156-014.000-026.

• CAP approach

  CAP return

  Valuation

  6%

  $3,311,335

  6.5%

  $3,056,617

  7%

  $2,838,287

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,835,282

  Geo Method

  $2,835,282

• Alternative Use

  Use

  Valuation

  Residential

  $3,790,205

  Hospitality

  $3,471,808

  Educational

  $2,888,503

  Medical

  $2,987,843

  Retail

  $4,493,227

Location Insight

City

South Bend

County

St. Joseph

State

Indiana

Latitude

41.6741

Longitude

-86.2524

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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