South Bend, IN
Commercial Real Estate Market Trends & Data

$120 Avg asking sale price
$192 Avg asking lease rate
20,810 SF Avg unit lease size
38,124 SF Avg building size for sale
8.50% Average cap rate

South Bend's Demographic Profile

South Bend has 43,706 households and a median income of $48,642, providing context for rent absorption and tenant demand across retail and multifamily assets. A +1% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 113,090
# Households 43,706
Median age 34
Median household income $48,642
Avg household size 2.0
Renter-occupied housing units 20,170
5-year population change +1%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near South Bend, IN

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
South Bend $109 13,352 SF 9.55%
Mishawaka $106 12,393 SF 9.55%
New Carlisle $282 7,037 SF 6.40%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
South Bend $73 30,663 SF 11.26%
Mishawaka $67 37,584 SF 11.26%
Nearby Retail Markets Avg Cost/SF Typical Size
South Bend $187 54,862 SF
Roseland $101 1,938 SF
Mishawaka $194 52,920 SF
Lakeville $60 2,560 SF
Granger $102 353,151 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
South Bend $98 20,823 SF 8.70%
Mishawaka $98 20,823 SF 8.70%
Elkhart $108 365,412 SF 6.63%
Plymouth $152 50,510 SF 7.08%

Commercial Properties For Sale in South Bend

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

0.94 Acres Grape Rd. Mishawaka

Mishawaka, IN 46545

  • 0.94 AC Lot
  • 1 Commercial Lot
  • $529,000
For Sale

Valvoline Instant Oil Change | South Bend, IN

South Bend, IN 46614

  • 1,674 SF Retail Building
  • 6.05% Cap Rate
  • $2,000,000
For Sale

8+/-Acres across Four Winds Casino Resort

South Bend, IN 46614

  • 7.92 AC Lot
  • 1 Commercial Lot
  • $1,495,000
For Sale

2401 Schumacher Dr

Mishawaka, IN

  • Industrial Building
  • $685,800
For Sale

1735 N Bendix Dr

South Bend, IN 46628

  • 27,419 SF Industrial Building
  • $1,512,500
For Sale

1 & 2

Mishawaka, IN 46545

  • 16,104 SF Industrial Building
  • $685,800

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether South Bend pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
South Bend $120 38,124 SF
Roseland $101 1,938 SF
Mishawaka $117 39,839 SF
North Liberty $150 16,000 SF
Lakeville $49 7,376 SF

Regional Demographic Comparison

This comparison places South Bend alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in South Bend or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
South Bend 113,090 43,706 34 $48,642 2 20,170 1%
Roseland 1,613 706 33 $45,694 2 401 12%
North Liberty 1,315 518 38 $54,166 3 147 -6%
Lakeville 913 418 42 $55,652 2 143 -4%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in South Bend, IN and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in South Bend

View All Commercial Real Estate For Sale in South Bend
Is South Bend a good market for a first-time commercial real estate investor?

South Bend offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in South Bend?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in South Bend. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in South Bend?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for South Bend. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does South Bend compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to South Bend. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for South Bend acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in South Bend, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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