2814 Franklin Street Michigan City, IN 46360
SINGLE_FAMILY - Michigan City, IN
- Added:
- Mar 30, 2026
- Days on Market:
- 105
- Last Refresh:
- Jul 12 at 8:06 pm
Property Features for 2814 Franklin Street
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking
- 27
- Parking features
- Off Street, Alley
- Security features
- Security System
- Standard status
- Active
- APN
- 460133312022000022
- Size
- 3,960 SF
- Lot size
- 0.51 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- 42-01-33-312-022 OAKLAWN ADD LOT 1 & VAC 15 FT ALLEY BTW LTS 1 & 2 BLK 3
- Tax Annual Amount
- 5871
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1962
Listing agent Zane Galloway License #RB16000549 (219) 707-9282
Listing office Coldwell Banker Realty 10 N Whittaker St., New Buffalo, IN (269) 469-3950
Listing date Mar 30, 2026
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
The property is located along Franklin St in the Edgewood neighborhood. A large, private parking lot provides 27 spaces with multiple points of ingress and egress. ADA compliance is supported with two ADA bathrooms and ramp access from the parking lot. Employees can use the designated break area and an employee bathroom. Landscaping and grass are irrigated.
Recent exterior and building-care improvements include a new vinyl roof and underlayment insulation completed in 2016, with an IB roof coating applied in 2024. The building also has an active security system through Sentinel Alarm. The existing floor plan may allow for multiple tenants, while still supporting a traditional reception-and-office workflow for professional users.
Key Highlights
- Move‑in ready office building along Franklin St in the Edgewood neighborhood
- Solid CMU block, brick, and stucco construction; remodeled professionally in 1994
- Large private parking lot with 27 off‑street spaces and multiple ingress/egress points
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.4k | $15.00 |
| − Vacancy | −$5.5k | −$1.38 |
| EGI | $53.9k | $13.62 |
| − OpEx | −$13.5k | −$3.41 |
| NOI | $40.5k | $10.22 |
