3903 Portage RdSouth Bend, IN 46628

Property Details for 3903 Portage Rd

Year built

2005

Construction

TYPE NOT SPECIFIED

Lot size

2.17 AC

Property size (Sq ft)

18,393 SF

Property type

Retail properties

Property subtype

Retail space

APN

71-03-22-301-006.000-009

APU

710322301006000009

Description

This exceptional 1-acre commercial land parcel presents a remarkable investment opportunity in South Bend, Indiana. Located at 3903 Portage Road, this property boasts a prime location on the rapidly developing northwest side of the city, directly north of a Walmart Supercenter and the Clocktower Lane retail center. The site offers significant potential for a variety of commercial uses, including a freestanding restaurant or a small multi-tenant retail building. Built in 2005, the land is fully serviced with all utilities readily available on-site. A key advantage is the potential for cross-easement access from the adjacent Walmart, allowing for shared parking opportunities and enhanced customer convenience. The property's design thoughtfully incorporates retention and drainage systems, ensuring efficient land use. Nearby new businesses include a KFC across the street and a Jimmy John's in a Meijer outlot, indicating a thriving and expanding commercial corridor. This 1-acre lot provides ample space for development, making it an ideal location for businesses seeking high visibility and accessibility in a rapidly growing area. The property is zoned for commercial use and is offered at an attractive asking price of $335,000. This is a NNN lease type property with multi-tenancy potential. The property is situated in St. Joseph County, Indiana, with a zip code of 46628.

• CAP approach

  CAP return

  Valuation

  6%

  $4,756,455

  6.5%

  $4,390,574

  7%

  $4,076,962

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,037,134

  Geo Method

  $6,037,134

• Alternative Use

  Use

  Valuation

  Residential

  $3,703,613

  Hospitality

  $3,392,490

  Educational

  $2,822,512

  Medical

  $2,919,582

  Retail

  $4,390,574

Location Insight

City

South Bend

County

St. Joseph

State

Indiana

Latitude

41.7295

Longitude

-86.2915

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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