Hometown Pharmacy Building | 608 Main st
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Hometown Pharmacy Building 608 Main st
15,534 SF 100% Leased Retail Building Mishawaka, IN 46545 $1,299,000 ($84/SF) 10.29% Cap Rate
Investment Highlights
- 100% Leased - Hometown Pharmacy & 5 Upstairs Apartments
- Just across river from Ironworks Plaza/The Mill Apartments
- Adjacent Parking Lot Included
- 1/2 Block from Mishawaka Ave & Mishawaka Riverwalk
- Downtown Mishawaka vibrant and fast-growing
- Adjacent to newly constructed Inova Federal Credit Union
Executive Summary
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 on the retail level and 5 apartments upstairs. Seller had a new roof put on in 2021 along with new ceilings and insulation. Owner also has just finished a new maintenance free metal side to the building facing the Inova Credit Union. The property also includes the adjacent parking lot with alley access. Note: There are 3 total parcels (see aerial). 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 soon to open 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: $9,034.54. Tax Year: 2023.
Financial Summary (Actual - 2021) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | - | - |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | - | - |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2021) Click Here to Access
Gross Rental Income | |
---|---|
Annual | - |
Annual Per SF | - |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | - |
Annual Per SF | - |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
15,534 SF
Year Built
1922
Price
$1,299,000
Price Per SF
$84
Cap Rate
10.29%
NOI
$133,625
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.32
Land Acres
0.27 AC
Zoning
C-1: Commercial - C-1: Commercial
Parking
4 Spaces (0.26 Spaces per 1,000 SF Leased)
Frontage
116 FT on N Main St.
Amenities
- Air Conditioning
Walk Score ®
Very Walkable (80)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $367,000 (2023) | |
Land Assessment | $57,600 (2023) | Total Assessment | $424,600 (2023) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$57,600 (2023)
Improvements Assessment
$367,000 (2023)
Total Assessment
$424,600 (2023)
1 of 10
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Hometown Pharmacy Building | 608 Main st
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.