434 S Byrkit Ave
12,000 SF two-tenant industrial. Below-market MTM leases, new 2025 roof. 7.88% pro forma cap.
Marketing description
The Ellsbury Group is pleased to present 434 S Byrkit Avenue — a 12,000 SF industrial building on 0.8 acres in Mishawaka, Indiana, configured as two firewalled spaces (4,000 SF and 8,000 SF). The 8,000 SF side is leased month-to-month to an established auto-parts tenant (bumpers & headlights) at $2,000/mo who wishes to stay; the owner occupies the 4,000 SF side.
At $599,000 ($49.92/SF) — below the Mishawaka $45–$50/SF market and replacement cost — the building carries a new 2025 roof (~$225K), 440-amp 3-phase power, and 18' clear height. Because the lease is month-to-month, an owner-user can occupy on short notice, or lease both sides to market for a pro forma $47,193 (7.9%). Next-door 432 S Byrkit is also available — both for a $778,000 portfolio.
Investment highlights
- $49.92/SF — below market ($45–$50/SF) and replacement cost
- Month-to-month tenant — owner-user can take possession on short notice
- New 2025 roof (~$225K) · 440A 3-phase · 18' clear
- Adjacent 432 S Byrkit available — buy one or both ($778K portfolio)
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