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434 S Byrkit Ave 12,000 SF 100% Leased Industrial Building Mishawaka, IN 46544 $599,000 ($49.92/SF) 7.88% Cap Rate
Executive Summary
434 S Byrkit Ave is a 12,000 SF two-tenant industrial/warehouse building in Mishawaka, IN, offered at $599,000. The property is occupied by two long-term, month-to-month tenants, including an established auto-parts/recycling operation, providing flexibility for an investor seeking in-place income or an owner-user who can occupy space as leases roll. Current rents are below market, creating upside through future increases, while a new 2025 roof reduces near-term capital needs. Pro forma NOI of $47,193 reflects a 7.88% cap rate. Strong tenant demand for functional small/mid-bay industrial space supports durable occupancy. 434 S Byrkit may be purchased individually or together with the adjacent 432 S Byrkit Ave (4-unit small-bay warehouse) as a combined 15,000 SF portfolio. Contact the listing team for the Offering Memorandum and additional financial detail.
Property Facts
| Price | $599,000 | Lot Size | 82.00 AC |
| Price Per SF | $49.92 | Rentable Building Area | 12,000 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 7.88% | Year Built | 1970 |
| Property Type | Industrial | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 2 |
| Building Class | C | ||
| Zoning | Industrial | ||
| Price | $599,000 |
| Price Per SF | $49.92 |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.88% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 82.00 AC |
| Rentable Building Area | 12,000 SF |
| No. Stories | 1 |
| Year Built | 1970 |
| Parking Ratio | 1.67/1,000 SF |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | Industrial |
Amenities
- Fenced Lot
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 71-09-14-301-014.000-023 | Improvements Assessment | $130,000 |
| Land Assessment | $27,700 | Total Assessment | $157,700 |
Property Taxes
Parcel Number
71-09-14-301-014.000-023
Land Assessment
$27,700
Improvements Assessment
$130,000
Total Assessment
$157,700
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