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432 S Byrkit Ave 3,000 SF Industrial Condo Unit Offered at $179,000 in Mishawaka, IN 46544
Investment Highlights
- Flexible two-section layout suitable for one or multiple users.
- Existing short-term tenant provides current income with expansion options.
- Located in an established industrial area with easy access to regional roadways and transportation links.
- Recent capital updates enhance property quality and reduce maintenance costs.
- Features include generous clear heights and reliable power capacity for diverse industrial applications.
Executive Summary
Located in Mishawaka, Indiana, 434 S Byrkit Avenue features a well-maintained industrial facility on a generous lot, offering an exceptional opportunity for both owner-users and investors. The building is divided into two functional sections, providing flexibility for single or multiple occupants. One side is currently occupied by an established tenant on a short-term basis, creating immediate income potential combined with the option for owner occupancy or full lease-up in the future.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment or Owner User | Cap Rate | 10.91% |
| Sale Type | Investment or Owner User |
| Cap Rate | 10.91% |
Sale Notes
432 S Byrkit Ave is a 3,000 SF, four-unit small-bay industrial building in Mishawaka, IN. Configured as four individual drive-in units (two ~1,000 SF and two ~500 SF) served by six grade-level overhead doors - the small-bay format tenants compete for, keeping vacancy low and rents sticky. Three of four units are leased month-to-month (two long-term tenants of 14 and 5 years); re-leasing the vacant unit lifts the pro forma cap rate to approximately 10.9%. All leases are month-to-month, so the property suits an investor seeking diversified, granular income or an owner-user who can take possession on short notice. All-electric building; tenants pay their own electric. Adjacent 434 S Byrkit Ave (12,000 SF) is also available - buy individually or together as a 15,000 SF portfolio for $778,000. Offered at $179,000 ($59.67/SF).
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 432 | 3,000 SF | Industrial | $179,000 ($59.67/SF) | $19,526 |
Unit 432
| Unit Size |
| 3,000 SF |
| Condo Use |
| Industrial |
| Price |
| $179,000 ($59.67/SF) |
| NOI |
| $19,526 |
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Unit 432
| Unit Size | 3,000 SF |
| Condo Use | Industrial |
| Price | $179,000 ($59.67/SF) |
| NOI | $19,526 |
| Sale Type | Investment or Owner User |
| Cap Rate | 10.91% |
| Sale Notes | |
| 432 S Byrkit Ave is a 3,000 SF, four-unit small-bay industrial building in Mishawaka, IN. Configured as four individual drive-in units (two ~1,000 SF and two ~500 SF) served by six grade-level overhead doors - the small-bay format tenants compete for, keeping vacancy low and rents sticky. Three of four units are leased month-to-month (two long-term tenants of 14 and 5 years); re-leasing the vacant unit lifts the pro forma cap rate to approximately 10.9%. All leases are month-to-month, so the property suits an investor seeking diversified, granular income or an owner-user who can take possession on short notice. All-electric building; tenants pay their own electric. Adjacent 434 S Byrkit Ave (12,000 SF) is also available - buy individually or together as a 15,000 SF portfolio for $778,000. Offered at $179,000 ($59.67/SF).</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 3,000 SF | Typical Floor Size | 3,000 SF |
| Property Type | Industrial (Condo) | Year Built | 1957 |
| Property Subtype | Warehouse | Tenancy | Single |
| Building Class | C | Lot Size | 0.26 AC |
| Floors | 1 | Parking Ratio | 3.67/1,000 SF |
| Total Building Size | 3,000 SF |
| Property Type | Industrial (Condo) |
| Property Subtype | Warehouse |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 3,000 SF |
| Year Built | 1957 |
| Tenancy | Single |
| Lot Size | 0.26 AC |
| Parking Ratio | 3.67/1,000 SF |
Amenities
- Fenced Lot
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
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432 S Byrkit Ave
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