Cascade Prime Steak & Seafood presents the opportunity to acquire a net-leased fine dining asset located within The Cascade development in downtown South Bend, Indiana. The property is occupied by Cascade Prime Steak & Seafood and benefits from a triple net lease guaranteed by Navarre Hospitality Group, with approximately eight years remaining in the current term, two five-year renewal options, and 2.5% annual rent increases during the base term. The lease structure places landlord responsibilities on the tenant, providing a passive ownership profile supported by an established regional hospitality operator.
Positioned along the St. Joseph River, the restaurant features patio seating overlooking the riverfront and sits adjacent to cultural and entertainment destinations including the South Bend Museum of Art and Morris Performing Arts Center. The property is located approximately 1.5 miles from the University of Notre Dame, a major economic driver that contributes significant educational, employment, and visitor activity to the region. Nearby recreational amenities include Seitz Park, Burke Golf Course, Notre Dame Stadium, and other downtown attractions that support year-round visitation.
The surrounding market benefits from a diverse economic base that includes higher education, healthcare, manufacturing, logistics, and technology. Memorial Hospital, the University of Notre Dame, and the downtown business district contribute to daily consumer demand in the immediate area. Demographic indicators show approximately 173,592 residents and 192,390 daytime employees and consumers within five miles of the property, supporting sustained activity in the trade area.
The combination of a riverfront location, established tenant operation, contractual rent growth, and downtown South Bend positioning creates an investment opportunity supported by both local demand drivers and long-term regional economic fundamentals.
Jesse Limon
Marcus & Millichap | Limon Net Lease Group
