1201 S Michigan St - Freestanding FOR SALE


South Bend, IN 46601- Downtown South Bend
$1,100,000 USD
219-864-0200
1201 S Michigan St, South Bend, IN for Sale
$1,100,000 USD
Freestanding - FOR SALE
1/7
null | Request Cap Rate

1201 S Michigan St
South Bend, IN 46601
Downtown South Bend


OVERVIEW

Latitude Commercial is pleased to present the opportunity to acquire a single-tenant net leased investment occupied by Help at Home, LLC, a leading provider of home healthcare services. The property is strategically located along S. Michigan Street in South Bend, Indiana, offering strong visibility and accessibility within a well-established commercial corridor. The tenant is operating under a long-term lease with an initial 8-year term (96 months) and three (3) additional 3-year renewal options, providing potential long-term income stability. The lease features 2% annual rental escalations, delivering built-in NOI growth over time. This is structured as a Triple Net (NNN) lease, with the tenant responsible for: -Real estate taxes -Insurance -Common area maintenance (CAM) -Utilities -Interior maintenance and repairs Landlord responsibilities are limited primarily to structural components, including the roof, foundation, and load-bearing structural elements, creating a favorable passive investment profile. South Bend is a city in St. Joseph County, Indiana, United States, and its county seat. It lies along the St. Joseph River near its southernmost bend, from which it derives its name. It is the fourth-most populous city in Indiana with a population of 103,453 at the 2020 census. Located directly south of Indiana's northern border with Michigan, South Bend anchors the broader Michiana region. Its metropolitan area had a population of 324,501 in 2020, while its combined statistical area had 812,199 residents.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$185 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

LB-Local Business

APN/PARCEL ID

71-08-13-153-007.000-026

ASK ABOUT THIS PROPERTY

Brett McDermottLatitude CommercialMore Info
219-864-0200

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Brett McDermottLatitude CommercialMore Info
219-864-0200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.