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    Versatile Commercial Property in Michigan City

    3417 Franklin Street Michigan City, IN 46360

    Claim this Listing
    For Sale
    $1,075,000

    COMMERCIAL - Michigan City, IN

    Property size:
    4,702 SF
    Lot size:
    0.79 Acres
    Price / SF:
    $228/SF
    Added:
    Apr 1, 2026
    Days on Market:
    103
    Last Refresh:
    Jul 12 at 1:06 pm

    Property Features for 3417 Franklin Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    10
    Parking features
    Off Street
    Standard status
    Active
    APN
    460505277029000009
    Size
    4,702 SF
    Lot size
    0.79 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    13-05-05-277-029 BRINCKMANN'S 2ND LTS 4 5 10 & 11 BLK 4 & VAC ALLEY BTW
    Tax Annual Amount
    8567

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1959

    Listing agent Matt Evans License #RB14034485

    Listing office RE/MAX Lifestyles 831 E. Lincolnway, Valparaiso, IN

    Listing date Apr 1, 2026

    MLS# 836463

    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.

    Located in a high-visibility commercial corridor in Michigan City, Indiana, this 4,702 square foot property is positioned on 0.79 acres. The site is adjacent to McDonald's and Biggby Coffee, benefiting from strong daily exposure and consistent consumer flow. The average daily traffic count is over 19,340 vehicles per day (2025). Currently configured as a tunnel car wash, the property has been updated with newer equipment and has an established customer base. The building includes a waiting area and reception/office space, and is equipped to support vacuum services and full interior/exterior detailing operations. Zoned B-2 (General Commercial), this property presents versatility for adaptive reuse. Potential redevelopment opportunities include retail, office, restaurant, medical, or service-oriented concepts. The property has an estimated 14+ parking spots with the current design. The construction is block and metal. The property offers the location, infrastructure, and flexibility to bring your vision to life.

    Key Highlights

    • High‑visibility location in a busy commercial corridor with 19,340+ VPD (2025).
    • Zoned B‑2 (General Commercial) offering exceptional versatility for adaptive reuse (retail, office, restaurant, medical, etc.).
    • Large .79‑acre lot adjacent to McDonalds and Biggby Coffee.

    Local Financial Insights For Specialty Retail

    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 $127.0k $27.00
    − Vacancy −$5.0k −$1.05
    EGI $122.0k $25.95
    − OpEx −$30.5k −$6.49
    NOI $91.5k $19.46
    4,702 SF · lease $27.00/SF/yr · vacancy 3.90% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.31M
    $1.14M – $1.53M (±1% cap)
    NOI $91,502 @ 7.0% cap · market cap 8.51%
    Second Best
    Retail
    $632.6K
    $553.5K – $738.0K (±1% cap)
    NOI $44,282 @ 7.0% cap · market cap 4.12%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Victory Lane Auto ... Car Wash

    Suggested Use

    Real Estate Agency Law Firm Gym & Fitness Center Parking Lot & Garage Spa & Massage Center Kitchen & Bath Showroom Grocery & Convenience Store (Bike/Boat/Book/etc) Store Computer & Electronic Repair Furniture & Home Goods

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

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    FAQs

    What type of property is this?
    Car wash - 4,702 SF commercial property on 0.79 acres in Michigan City.
    Where is this car wash located?
    The property is located at 3417 Franklin Street Michigan City, IN.
    What is the asking price?
    The asking price for this property is $1,075,000.
    What are key features of this property?
    This property features: High‑visibility location in a busy commercial corridor with 19,340+ VPD (2025).; Zoned B‑2 (General Commercial) offering exceptional versatility for adaptive reuse (retail, office, restaurant, medical, etc.).; Large .79‑acre lot adjacent to McDonalds and Biggby Coffee.
    Contact an agent
    (219) 241-8401
    We can help!
    Contact an agent
    Matt Evans
    Matt Evans
    Real Estate License ID: RB14034485
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