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306-338 N Bittersweet Rd
Mishawaka, IN 46544

$4,860,000 USD

Supermarket For Sale  •  36,531 SF

Property Details

  • Property Type Supermarket
  • Total Building Size 36,531 SF
  • Lot Size 6.21 AC
  • Building Class C
  • Year Built 1992
  • Tenancy Multiple
  • Zoning C-2
0 Transit Score
49 Walk Score

Highlights

Value-Add opportunity, shadow anchored by Martin’s Super Markets, with nearly 12,000 square feet currently vacant and in rent ready condition
In addition to the shop space, the property also includes a developable padsite, as well as a separately parceled PNC Bank and a Martin's Fuel Station
Priced at a 7.4% CAP on the current, in-place NOI, with the ability to push the cap rate to nearly 10.5% by leasing up the vacant space
Given the asking cap rate and available debt, the property will cash flow substantially on day one while an investor executes their value-add strategy
Although not included in the offering, the adjacent Martin’s Super Market has historically demonstrated robust per square foot sales figures
Mishawaka is located next to South Bend, home of Notre Dame University and part of the third largest MSA within the business friendly State of Indiana

Public Transportation

Commuter RailDriveWalkDistance
Elkhart Amtrak Station (Capitol Limited - Amtrak, Lake Shore Limited - Amtrak) 13 min - 7.5 mi
AirportDriveWalkDistance
South Bend International 31 min - 14.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 429
Type: Surface
Included in Rent: Yes
Mitchell Kiven 312-624-7006 Marcus & Millichap
Mitchell Kiven 312-624-7006 Marcus & Millichap