1405 Portage AveSouth Bend, IN 46616

  • Retail properties
  • 1,676 SF
For Lease

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $433,531
    6.5%
    $400,183
    7%
    $371,598
  • Comparable approach

    Method
    Valuation
    Relative Method
    $550,114
    Geo Method
    $550,114
  • Alternative Use

    Use
    Valuation
    Residential
    $337,569
    Hospitality
    $309,211
    Educational
    $257,260
    Medical
    $266,108
    Retail
    $400,183
1405 Portage Ave, South Bend, Indiana

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$2,758
$40,000
$41,500
$81,500
-
$40,000
$41,500
$81,500

FAQs

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