608 N Main Street, Mishawaka, IN

Retail for Sale - $1,350,000 - 0.27 acres


Agent Info

JOHN PIRACCINI
Coldwell Banker Real Estate Group

Property Info

CIMLS#1163869
Location
  608 N Main Street
  Mishawaka IN 46545
UpdatedMay 1st, 2025
TypeRetail
Price$1,350,000
Land0.27 acres

Property Description

Fantastic investment or redevelopment opportunity in the vibrant and fast-growing downtown district of Mishawaka, adjacent to the newly constructed Inova Federal Credit Union. Located 1/2 a block from heavily traveled intersection of N Main St (25,000 cars daily) and Mishawaka Ave (10,000 cars daily, INDOT Traffic Counts), the building is completely rented out with Hometown Pharmacy (newly signed 3-year lease) on the retail level and 5 apartments upstairs. Seller had a completely new roof done with a 20-year warranty in March of this year. Owner has just finished a new maintenance free metal siding on the building facing the Inova Credit Union as well. The property also includes the adjacent parking lot with alley access. Note: There are 3 total parcels (see aerial). Current Net Operating Income: $135,988.26 (Full breakdown available with a signed Confidentiality Agreement). The property boasts excellent location and visibility, with the Mishawaka Riverwalk just across Mishawaka Ave. Also, across the river (0.2 miles) is the newly developed Ironworks Plaza and The Mill apartments which includes the Mishawaka Public House, Sun King Brewery, and Social Cantina. The Mill Phase II is currently in the works along with the now opened Avalon Apartments. The property is also only 2 miles (6 mins) from the Main St/Grape Rd Shopping Corridor, 2.5 miles (7 mins) from IN-331/Capital Ave, and 5 miles (15 mins) to the University of Notre Dame. Zoned C-1: Commercial. Total Taxes for all 3 parcels: $7,143.00.


Financials


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