1222 Western AveSouth Bend, IN 46601

Property Details for 1222 Western Ave

Year built

1919

Construction

TYPE NOT SPECIFIED

Lot size

0.20 AC

Property size (Sq ft)

4,744 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

71-08-11-326-005.000-026

APU

710811326005000026

Description

This exceptional 4,744 square foot retail property, located at 1222 W Western Ave in South Bend, Indiana, presents a unique investment opportunity. Built in 1919, this beautifully maintained building boasts a striking exterior of old brick, granite, and limestone. The large rectangular structure measures approximately 70 feet long by 34 feet wide, with each of its two floors offering roughly 2,372 square feet of usable space. The interior layout is adaptable to various floor plans and uses, and both floors feature high ceilings. The property sits on a 0.2-acre lot and includes approximately 10 parking spaces directly east of the building. Situated on the western edge of South Bend's Commercial Business District, this location benefits from a blend of retail, residential, and mixed-use properties. The City of South Bend offers funding for façade and other building improvements, adding further value to this already attractive investment. The asking price is $258,000, translating to $54.38 per square foot. The property is zoned for commercial use and represents a rare chance to acquire a substantial, historic building in a thriving urban area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,035,253

  6.5%

  $955,618

  7%

  $887,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $957,754

  Geo Method

  $957,754

• Alternative Use

  Use

  Valuation

  Residential

  $955,618

  Hospitality

  $875,341

  Educational

  $728,274

  Medical

  $753,320

  Retail

  $1,132,870

Location Insight

City

South Bend

County

St. Joseph

State

Indiana

Latitude

41.6719

Longitude

-86.2686

CBSA code

43780

CBSA name

SOUTH BEND-MISHAWAKA, IN-MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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