1405 Portage AveSouth Bend, IN 46616

Property Details for 1405 Portage Ave

Year built

1953

Construction

WOOD

Lot size

0.41 AC

Property size (Sq ft)

1,676 SF

Property type

Grocery and convenience stores

APN

71-03-35-360-020.000-026

APU

710335360020000026

Description

This exceptional retail property, located at 1405 Portage Ave in South Bend, Indiana, presents a unique investment opportunity. Situated on a 0.64-acre lot, this multi-tenant building offers 9,300 square feet of space, currently with one unit available. The property boasts a highly desirable location, a high-visibility corner lot northwest of downtown South Bend, in a densely populated area with significant foot traffic. The zoning is NC (Neighborhood Commercial). The property is ideal for a variety of uses, including restaurants, grocery stores, coffee shops, nail and beauty salons, dental practices, physical therapy clinics, insurance agencies, or real estate offices. Please note that there are some restrictions in place: gas and liquor sales are restricted, and there is a partial restriction on convenience store operations. This prime location and ample square footage make this property an excellent choice for businesses seeking high visibility and strong foot traffic in a thriving South Bend neighborhood. The property is in St. Joseph County, Indiana, with a zip code of 46616.

• CAP approach

  CAP return

  Valuation

  6%

  $328,936

  6.5%

  $303,633

  7%

  $281,945

• Comparable approach

  Method

  Valuation

  Relative Method

  $227,031

  Geo Method

  $227,031

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $582,659

  Mixed-Use / Specialty

  $306,371

  Hospitality / Lodging

  $229,749

  Office

  $308,531

  Institutional / Educational

  $319,868

  Residential Income

  $374,246

  Multifamily

  $427,669

  Automotive / Energy

  $274,173

  Parking / Income-Based Land

  $90,838.80

  Restaurant / Food Service

  $167,500

  Healthcare / Senior Housing

  $310,260

Location Insight

City

South Bend

County

St. Joseph

State

Indiana

Latitude

41.6943

Longitude

-86.2697

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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