Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    123 E Michigan St New Carlisle, IN 46552

    For Sale
    $270,000

    Retail - New Carlisle, IN

    Type:Retail
    Lot size:
    0.12 Acres
    Days on Market:
    60
    Last Refresh:
    Dec 5 at 5:06 am

    Property Features for 123 E Michigan St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    Commercial
    Rooms
    Bathroom 1, Office
    Bathrooms
    1
    APN
    71-01-34-232-018.000-018
    Parking
    2
    Interior features
    Wood, Other, 110 Volts, Freight Elevator, Living Space, Overhead Door 1, Office Space, Public Restrooms
    Exterior features
    110 Volts, Freight Elevator, Living Space, Overhead Door 1, Office Space, Public Restrooms
    Accessibility
    Accessible Elevator Installed
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air, Wall Unit(s)

    Building Details

    Year built
    1889
    Floors in Building
    2
    Flooring type
    Tile, Vinyl
    Building materials
    Brick
    Roof type
    Rubber
    Architectural style
    Other

    RE/MAX 1st (574) 273-9547 [email protected]

    Listing agent C. Frank Robinson (574) 273-9547 License #CR60800932

    Listing date Oct 7, 2025

    MLS# 202532256 Listing URL

    Copyright © 2025 Greater South Bend-Mishawaka 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

    Hardware Store in Historic Downtown

    This property presents a rare opportunity to acquire a well-established hardware store situated in the historic downtown of New Carlisle, Indiana. As one of the largest retail shops in the downtown business district, the property offers many potential uses. The existing business can be taken over, or the space can be repurposed. The property includes 5,360 square feet of retail space, with additional retail space available in the full basement. The upstairs area provides ample space for excess inventory, complete with an elevator for easy access. A 52x24' pole building houses lumber, concrete, and various other building materials and features two parking spaces. Additionally, the property includes a 2-bedroom, 1-bath apartment that is currently rented to a long-term tenant. The property is zoned commercial and sits on a 0.12-acre lot. The buildings and business can be sold separately or combined.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Charles Mares Hardware Hardware Store

    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
    -86.508514
    Latitude
    41.706572

    Nearby Similar for Sale

    • $475,000
      1,656 SF

      Mixed-Use Building with Drive-Thru

      Former bank building in downtown New Carlisle with drive-thru.
      118 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?
    Retail space - Established hardware store with retail space and rental apartment.
    Where is this retail space located?
    The property is located at 123 E Michigan St New Carlisle, IN.
    What is the asking price?
    The asking price for this property is $270,000.
    What are key features of this property?
    This property features: - Established hardware store in Historic Downtown New Carlisle with existing business opportunity.; - Large retail space: **5,360 sq ft** plus additional space in the full basement.; - Includes a currently rented 2-bedroom, 1-bath apartment for immediate income.
    (574) 273-9547
    Request Owner's contact information
    123 E Michigan St New Carlisle, IN 46552
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    123 E Michigan St
    New Carlisle, IN 46552
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    123 E Michigan St New Carlisle, IN 46552
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.