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    521 Franklin St Michigan City, IN 46360

    For Sale
    $1,650,000

    Mixed Use - Michigan City, IN

    Type:Mixed Use
    Property size:
    21,057 SF
    Lot size:
    0.28 Acres
    Days on Market:
    68
    Last Refresh:
    Dec 5 at 2:06 am

    Property Features for 521 Franklin St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Active
    Rooms
    Basement
    APN
    460129404021000022
    Basement Y/N
    1
    Size
    21,057 SF
    Lot size
    0.28 Acres

    Utilities

    Heating system
    Central

    Building Details

    Year built
    1880
    Architectural style
    Other

    Coldwell Banker Residential (847) 404-8900 [email protected]

    Listing agent Daren Huber (847) 404-8900 License #RB15000509

    Listing date Sep 29, 2025

    MLS# 828505 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

    Downtown Arts District Mixed-Use Building

    Located in the vibrant Arts District, this mixed-use building offers an investment opportunity with a diverse range of tenants. The property features three street-level commercial spaces, including two office/retail storefronts and one restaurant space with established infrastructure. The building also includes seven apartments, offering a mix of open loft-style studios and one-bedroom units. The apartments are designed to attract long-term renters. Situated on a visible block, the building is surrounded by galleries, shops, and restaurants, making it a sought-after location for both commercial and residential tenants. The property is located at 521 Franklin Street, Michigan City, IN 46360, in La Porte County. The building has a total area of 21057 square feet and sits on a lot of 0.284 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Maxine's Restaurant Restaurant Vita del Lago Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Michigan City
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.901888
    Latitude
    41.716405

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    FAQs

    What type of property is this?
    Mixed-use property - Ten-unit mixed-use building in the heart of the Arts District.
    Where is this mixed-use property located?
    The property is located at 521 Franklin St Michigan City, IN.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: - Prime downtown location in the Arts District, surrounded by galleries, shops, and restaurants.; - Mixed-use building with three commercial spaces and seven apartments, providing diverse income streams.; - Ten-unit building with established restaurant infrastructure and versatile office/retail storefronts.
    (847) 404-8900
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    521 Franklin St Michigan City, IN 46360
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    Michigan City, IN 46360
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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
    521 Franklin St Michigan City, IN 46360
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