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1505 W Indiana Ave 1,584 SF Retail Building South Bend, IN 46613 $250,000 ($157.83/SF)
Investment Highlights
- Freestanding restaurant building
- Large 1.15 acre parcel
- 45 parking spaces
- 1,584 SF | Two stories
- 173’ frontage on Indiana Ave
- Multiple commercial zoning designations (NC / I / UI)
Executive Summary
Rare opportunity to acquire a freestanding retail/restaurant property located at 1505 W Indiana Ave in South Bend, Indiana. This two-story, 1,584 SF building sits on an expansive 1.15-acre parcel with approximately 173 feet of frontage along Indiana Ave and ample on-site parking for approximately 45 vehicles.
The property is zoned NC / I / UI Commercial, allowing for a wide variety of retail, restaurant, or service-oriented uses. The oversized lot provides significant flexibility for redevelopment, expansion, outdoor seating, or repositioning to accommodate modern concepts.
Situated in an established commercial corridor, the property benefits from consistent neighborhood traffic and strong visibility. The site’s parking ratio and lot depth make it particularly attractive for owner-users, investors, or operators seeking a highly functional footprint that is difficult to find in urban infill locations.
The property is zoned NC / I / UI Commercial, allowing for a wide variety of retail, restaurant, or service-oriented uses. The oversized lot provides significant flexibility for redevelopment, expansion, outdoor seating, or repositioning to accommodate modern concepts.
Situated in an established commercial corridor, the property benefits from consistent neighborhood traffic and strong visibility. The site’s parking ratio and lot depth make it particularly attractive for owner-users, investors, or operators seeking a highly functional footprint that is difficult to find in urban infill locations.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,584 SF
Building Class
C
Year Built
1923
Price
$250,000
Price Per SF
$157.83
Tenancy
Single
Building Height
2 Stories
Building FAR
0.03
Lot Size
1.15 AC
Zoning
NC, I, UI - Commercial
Parking
45 Spaces (28.41 Spaces per 1,000 SF Leased)
Frontage
Property Taxes
| Parcel Number | 71-08-14-302-007.000-026 | Improvements Assessment | $70,600 |
| Land Assessment | $3,600 | Total Assessment | $74,200 |
Property Taxes
Parcel Number
71-08-14-302-007.000-026
Land Assessment
$3,600
Improvements Assessment
$70,600
Total Assessment
$74,200
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1505 W Indiana Ave
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