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Listed by Ellsbury Group
$179,000
Est. payment /mo
0.26 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Warehouse
Listing Status Active
Purchase Type For Sale
Subdivision St Joseph(S)
MLS Listing ID IRM202626420
HOA Y/N No
Year Built 1957
Annual Tax Amount $1,800
Tax Year 2025
Lot Size 0.260 Acres
Acres 0.26
Lot Dimensions 200 x 60
Property Sub-Type Warehouse
Property Description
The Ellsbury Group is pleased to present 432 S Byrkit Avenue — a 3,000 SF all-electric industrial building configured as four individual small-bay units with six grade-level drive-in doors, in Mishawaka, Indiana. Small single-bay units like these are among the most sought-after industrial product on the market — contractors, tradesmen, online sellers, and storage users compete for them, which keeps vacancy low and rents sticky. The units lease month-to-month; two tenants have stayed 14 and 5 years. Priced at $179,000 ($59.67/SF), three of four units are leased ($18,000/yr in place); re-leasing the vacant unit lifts the cap rate to 10.9%. The small-bay format is built for investors: income is diversified across multiple tenants, units re-lease quickly given deep demand, and granular rents limit exposure to any single vacancy. Every lease is month-to-month, so an owner-user can also buy and occupy on short notice. Next door, 434 S Byrkit is available too — both for a 15,000 SF, $778,000 portfolio.
Location
State IN
Zoning Light Industrial
Rooms
Basement Slab
Interior
Heating None
Inclusions Building
Fireplace N
Exterior
Parking Features Private
View Y/N true
Total Parking Spaces 6
Building
Sewer None
Water None
New Construction No
Others
Pets Allowed No
Tax ID 71-09-14-301-019.000-023
Acceptable Financing IRM202626420
Listing Terms IRM202626420
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202626420
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