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20853051
20853050

218 S Frances St, South Bend, IN 46617

ST
IN RB14043602
NAI Cressy - Mishawaka
Listed by NAI Cressy - Mishawaka
$535,000
557 days on market
Updated 53 days ago
Opportunity zone

218 S Frances Street

Details
Property Type Office
Sub Type Traditional Office
Square Footage 4,356
Cap Rate 6.50%
NOI $35,000
Occupancy 100%
Tenancy Multi
Lease Type Net
Class A
Year Built 1972
Year Renovated 2014
Stories 2
Acreage 0.290
Zoning Mixed Use
Investment Type Stabilized

Fully Occupied Office | 6.50% CAP

Marketing description

2 Tenant Building, fully leased with 2nd floor loft ready to finish.

Built in 1972 with remodel in 2014, this professional office building has unique features excellent finishes. The building consists of 4,356 SF plus a 1,500 SF lower level and a loft area that could be finished as an office. The building is wired for server and computer as well. The lower level contains record storage areas. The property is serviced by a private security system. The property is zoned MU (Mixed Use) which allows for a wide range commercial uses. The building has exterior monument signage. Parking is at the rear of the property and accommodates 12 to 14 cars in addition to street parking. 218 S. Frances Street is surrounded by professional offices, single family residential developments, medical offices and retail l businesses. It is well located in an emerging mixed use area with good access to major transportation infrastructure, minutes to the new Saint Joseph High School, South Bend Clinic, University of Notre Dame and downtown South Bend.

Investment highlights

Tenants paying a portion of the property expenses, with ability to have fully covered in future years.

Listing Contacts

ST
IN RB14043602
NAI Cressy - Mishawaka
Listed by NAI Cressy - Mishawaka

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$35,000.00
$2,916.67/mo

Valuation Metrics

0
DSCR
6.54%
Cap Rate
6.54%
ROI

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