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Office

112 W Jefferson

112 W Jefferson Blvd, South Bend, IN 46601

Listing Price: $6,950,000

Cap Rate
8.61%
Gross SF
48,919
Rentable SF
48,919
Price/Gross SF
$142.07
Lot Size
0.24 acres
Year Built
1954

Investment Overview

Marcus & Millichap is pleased to present to market, available for acquisition the multi-tenant professional office center located at 112 West Jefferson Boulevard in South Bend, Indiana. 112 West Jefferson Boulevard is located in the heart of downtown South Bend, home to the prestigious Notre Dame University. Indiana’s fourth largest city, South Bend boasts a population of 103,453 residents, and is strategically centrally located within between the major metros of Chicago, Illinois, Indianapolis, Indiana, Detroit, Michigan, and Cincinnati, Ohio. South Bend boasts excellent economic fundamentals as a submarket focused on growth in the Education, Health Care, Professional Office, and Industrial sectors. The 112 West Jefferson Boulevard Professional Center is a prominent, 48,919 square-foot, five-story office building in the Central Business District of South Bend just off of the St. Joseph River. The Subject Property boasts a diversified tenant-mix and is presented to market at 86% occupancy, while the lone first floor vacancy is not actively marketed for lease with a current landlord-affiliated business operating on a discounted month-to-month use. The Subject Property operates at historically high occupancy rates across a diverse tenant mix in the core economic sectors that drive the submarket, with Bradley Real Estate Company anchoring 34.83 percent of the Net Leasable Area and Neuropsychiatric Hospitals anchoring 29.30 percent of the Net Leasable Area into 2027. Featuring excellent real estate fundamentals and considerable upside to investors through the lease-up of current first floor vacancy, representing 14 percent of the NLA, along with future conversion to triple-net (NNN) rents, the Subject Property presents as an excellent combination of stable initial returns and future upside for any investor in the market. The 112 West Jefferson Boulevard Professional Center is presented to market asking $6,960,000, which reflects an 8.61% CAP Rate on Actual Financials and a projected 13.41 percent Day-One Cash-on-Cash return to investors.

Investment Highlights

  • 48,919 Square-Foot Professional Office Center | South Bend, Indiana | State's Fourth Largest City | Home to the University of Notre Dame
  • Operates at 86 Percent Occupancy Across Diverse Tenant Mix | 65 Percent NLA Leased into 2027
  • 14 Percent Lease-Up Upside of First Floor Space | Not Actively Marketed for Lease
  • Strategically Positioned in the Heart of the Central Business District
  • South Bend Centrally Located to service Major Midwest MSAs | Chicago, Detroit, Indianapolis and Cincinnati

Exclusively Listed By

Listing Price: $6,950,000

Cap Rate
8.61%
Gross SF
48,919
Rentable SF
48,919
Price/Gross SF
$142.07
Lot Size
0.24 acres
Year Built
1954

Investment Highlights

  • 48,919 Square-Foot Professional Office Center | South Bend, Indiana | State's Fourth Largest City | Home to the University of Notre Dame
  • Operates at 86 Percent Occupancy Across Diverse Tenant Mix | 65 Percent NLA Leased into 2027
  • 14 Percent Lease-Up Upside of First Floor Space | Not Actively Marketed for Lease
  • Strategically Positioned in the Heart of the Central Business District
  • South Bend Centrally Located to service Major Midwest MSAs | Chicago, Detroit, Indianapolis and Cincinnati

Investment Overview

Marcus & Millichap is pleased to present to market, available for acquisition the multi-tenant professional office center located at 112 West Jefferson Boulevard in South Bend, Indiana. 112 West Jefferson Boulevard is located in the heart of downtown South Bend, home to the prestigious Notre Dame University. Indiana’s fourth largest city, South Bend boasts a population of 103,453 residents, and is strategically centrally located within between the major metros of Chicago, Illinois, Indianapolis, Indiana, Detroit, Michigan, and Cincinnati, Ohio. South Bend boasts excellent economic fundamentals as a submarket focused on growth in the Education, Health Care, Professional Office, and Industrial sectors. The 112 West Jefferson Boulevard Professional Center is a prominent, 48,919 square-foot, five-story office building in the Central Business District of South Bend just off of the St. Joseph River. The Subject Property boasts a diversified tenant-mix and is presented to market at 86% occupancy, while the lone first floor vacancy is not actively marketed for lease with a current landlord-affiliated business operating on a discounted month-to-month use. The Subject Property operates at historically high occupancy rates across a diverse tenant mix in the core economic sectors that drive the submarket, with Bradley Real Estate Company anchoring 34.83 percent of the Net Leasable Area and Neuropsychiatric Hospitals anchoring 29.30 percent of the Net Leasable Area into 2027. Featuring excellent real estate fundamentals and considerable upside to investors through the lease-up of current first floor vacancy, representing 14 percent of the NLA, along with future conversion to triple-net (NNN) rents, the Subject Property presents as an excellent combination of stable initial returns and future upside for any investor in the market. The 112 West Jefferson Boulevard Professional Center is presented to market asking $6,960,000, which reflects an 8.61% CAP Rate on Actual Financials and a projected 13.41 percent Day-One Cash-on-Cash return to investors.

Exclusively Listed By

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