402 E South St
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402 E South St
6,000 SF Vacant Office Building South Bend, IN 46601 $398,000 ($66/SF)
Investment Highlights
- Property is configured for mixed-use with retail/office use on first floor and two residential apartments on the second
- Apartments have attractive layout and fixtures, ready to revert to residential use
- Dedicated surface parking lot and adjoining garage structure
- Well-maintained and with recent upgrades to façade and apartment interior finishes
- Property is just a few blocks east of major downtown development projects (River Glen development area)
Executive Summary
This two story, attractive brick façade mixed-use property sits in a near-downtown South Bend neighborhood at the corner of E South St & Columbia St. The site sits just down the street from the expansion of Four Winds Field, the Real America housing project, the Momentum Hub, and others. The 3,000 square foot first floor is currently built out as office space, with a mix of private office, conference room, break room, and open space. The upper floor is divided into two converted apartments currently utilized as excess office space but that can be easily reverted to residential use. The site is well suited for an owner-user or investor looking to lease residential and commercial space in an accessible location.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
6,000 SF
Building Class
C
Year Built/Renovated
1892/2019
Price
$398,000
Price Per SF
$66
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,000 SF
Building FAR
1.38
Lot Size
0.10 AC
Opportunity Zone
Yes
Zoning
Urban Neighborhood Flex
Parking
8 Spaces (1.33 Spaces per 1,000 SF Leased)
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Bike Score ®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 71-08-12-333-001.000-026 | Improvements Assessment | $126,600 |
| Land Assessment | $18,500 | Total Assessment | $145,100 |
PROPERTY TAXES
Parcel Number
71-08-12-333-001.000-026
Land Assessment
$18,500
Improvements Assessment
$126,600
Total Assessment
$145,100
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402 E South St
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