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    118 E Michigan St New Carlisle, IN 46552

    For Sale
    $475,000

    Mixed Use - New Carlisle, IN

    Type:Mixed Use
    Property size:
    1,656 SF
    Lot size:
    0.28 Acres
    Days on Market:
    36
    Last Refresh:
    Dec 5 at 1:06 am

    Property Features for 118 E Michigan St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Security features
    Security Lighting
    Rooms
    Basement
    APN
    710134235008000018
    Parking features
    On Street, Paved or Surfaced
    Exterior features
    Lighting, Security Lights
    Basement Y/N
    1
    Size
    1,656 SF
    Lot size
    0.28 Acres

    Utilities

    Heating system
    Forced Air, Hot Water (Heating)

    Building Details

    Year built
    1900
    Architectural style
    Other

    1st XIT Inc (219) 324-2121 [email protected]

    Listing agent Kim Huston (574) 654-8584 License #RB14023503

    Listing date Oct 31, 2025

    MLS# 522716 Listing URL

    Copyright © 2025 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building with Drive-Thru

    This mixed-use property, formerly a bank, is located in the business district of New Carlisle, Indiana, and offers potential for various business ventures. The building features a drive-thru with a window that can accommodate two customers. The main floor offers a minimum of five customizable rooms and spaces. The front lobby includes a large countertop area, high decorative ceilings, and a vault. The unfinished second floor provides over 1900 square feet of open space with high ceilings, suitable for a studio apartment, fitness area, storage, or a second business. The property benefits from its central location within the restaurant and storefront district, experiencing high vehicle and foot traffic from the US Highway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flagstar Bank ATM Atm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Auto Repair Shop Hair Salon Nail Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Carlisle
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.508492
    Latitude
    41.706021

    Nearby Similar for Sale

    • $270,000
      0.12 Acres

      Hardware Store in Historic Downtown

      Established hardware store with retail space and rental apartment.
      123 E Michigan St, New Carlisle, IN 46552
      View Details
    • $1,300,000

      New Carlisle Restaurant - $1.3M

      Established Restaurant, Ample Parking, Extra Lot Included
      0 Us-20, New Carlisle, IN 46552
      View Details

    FAQs

    What type of property is this?
    Bank - Former bank building in downtown New Carlisle with drive-thru.
    Where is this bank located?
    The property is located at 118 E Michigan St New Carlisle, IN.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: - Drive-thru window (can host 2 customers); - Prime downtown location in a high-traffic business district; - Large, unfinished 2nd floor (over 1900 sq ft) with high ceilings, offering versatile potential (studio, fitness, storage, 2nd business)
    (574) 654-8584
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    118 E Michigan St New Carlisle, IN 46552
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    New Carlisle, IN 46552
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    118 E Michigan St New Carlisle, IN 46552
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