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1201 S Michigan St 5,934 SF Retail Building South Bend, IN 46601 $1,504,283 CAD ($253.50 CAD/SF)
Executive Summary
Latitude Commercial is pleased to present the opportunity to acquire a single-tenant net leased investment occupied by Help at Home, LLC, a leading provider of home healthcare services. The property is strategically located along S. Michigan Street in South Bend, Indiana, offering strong visibility and accessibility within a well-established commercial corridor. The tenant is operating under a long-term lease with an initial 8-year term (96 months) and three (3) additional 3-year renewal options, providing potential long-term income stability. The lease features 2% annual rental escalations, delivering built-in NOI growth over time. This is structured as a Triple Net (NNN) lease, with the tenant responsible for: -Real estate taxes -Insurance -Common area maintenance (CAM) -Utilities -Interior maintenance and repairs Landlord responsibilities are limited primarily to structural components, including the roof, foundation, and load-bearing structural elements, creating a favorable passive investment profile.
South Bend is a city in St. Joseph County, Indiana, United States, and its county seat. It lies along the St. Joseph River near its southernmost bend, from which it derives its name. It is the fourth-most populous city in Indiana with a population of 103,453 at the 2020 census. Located directly south of Indiana's northern border with Michigan, South Bend anchors the broader Michiana region. Its metropolitan area had a population of 324,501 in 2020, while its combined statistical area had 812,199 residents.
South Bend is a city in St. Joseph County, Indiana, United States, and its county seat. It lies along the St. Joseph River near its southernmost bend, from which it derives its name. It is the fourth-most populous city in Indiana with a population of 103,453 at the 2020 census. Located directly south of Indiana's northern border with Michigan, South Bend anchors the broader Michiana region. Its metropolitan area had a population of 324,501 in 2020, while its combined statistical area had 812,199 residents.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,934 SF
Building Class
B
Year Built
2007
Price
$1,504,283 CAD
Price Per SF
$253.50 CAD
Tenancy
Single
Building Height
1 Story
Slab To Slab
8’
Building FAR
0.24
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
LB-Local Business
Parking
25 Spaces (4.21 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
Bike Score®
Very Bikeable (70)
Nearby Major Retailers
Property Taxes
| Parcel Number | 71-08-13-153-007.000-026 | Improvements Assessment | $618,125 CAD |
| Land Assessment | $37,599 CAD | Total Assessment | $655,724 CAD |
Property Taxes
Parcel Number
71-08-13-153-007.000-026
Land Assessment
$37,599 CAD
Improvements Assessment
$618,125 CAD
Total Assessment
$655,724 CAD
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1201 S Michigan St
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