Investment Overview

Marcus & Millichap is pleased to exclusively represent for sale a prime commercial development and investment opportunity: 36.76 AC US-31 Commercial/Industrial Land in South Bend, Indiana. The site offers ~1,344 feet of frontage along US-31 (23,018 VPD) and ~1,080 feet along IN-931, within the US-31 Corridor free access highway stretching from South Bend to Indianapolis, just 0.5 miles from the US-31 & Kern Rd interchange. Zoned commercial with provisions for light industrial (see page six for the full zoning ordinance), the property is supported by water and sewer access at the street, along with 200-amp electric and gas service. Currently configured as three parcels, the site features an existing structure occupied by a full-service, authorized E-Z-GO golf cart dealership. South Bend, located in St. Joseph County, Indiana’s fifth-largest county, is a dynamic business hub. The county has a population of 272,912 and an affluent AHHI of $96,583 within three-miles. As the economic center of a bi-state area with 924,820 residents and a labor force of 505,574, South Bend offers a robust market and skilled workforce. The Outlying St. Joseph County Industrial Submarket comprises 4.9 million SF of logistics and 320,000 SF of flex inventory, with a vacancy rate of 4.9 percent (Q1 2025). Over the past year, the submarket recorded 33,000 SF of net absorption with no new deliveries. Submarket rents outperform the greater market, with a five-year average rent growth of 5.3 percent. Flex rents average $7.90 per SF, while logistics rents average $6.00 per SF (CoStar Group, January 2025). The city’s transformation into a premier investment destination is fueled by significant public and private investments. Amazon Web Services’ $11B data center, the largest in Indiana’s history, and GM-Samsung’s $3.5 billion EV battery plant, will create over 2,600 jobs. Additional housing developments, such as The Hill Apartments and the Madison Lifestyle District, further demonstrate the city’s commitment to economic growth and urban revitalization. South Bend’s pro-business climate is supported by excellent transportation infrastructure. The property is just 0.5 miles from US-31 and three minutes from US-20. With direct access to 14 interstates, including I-90 (12 minutes) and I-94 (38 minutes), South Bend places 75 percent of the U.S. and Canadian populations within a one-day drive. South Bend International Airport (home to UPS and FedEx distribution hubs) is 14 minutes away, offering global connectivity. The University of Notre Dame (Enrollment: 13,174), consistently ranked among the nation’s top 25 universities, anchors the region’s educated workforce with its global reputation for academic excellence and innovation. Complementing Notre Dame are Indiana University South Bend (Enrollment: 4,631), Ivy Tech South Bend (Enrollment: 3,565), Saint Mary’s College (Enrollment: 1,557), and Bethel University (Enrollment: 1,150). South Bend’s revitalization, Beacon Health System expansions, mixed-use developments near Notre Dame, and its skilled workforce, strong connectivity, and growing economy position the city as an ideal destination for developers and investors. The subject property offers excellent US-31 visibility and cost basis in a growing market with potential for light industrial and commercial development.