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
    The Largest CRE Database in the US with Over 1 Million Listings

    Hwy 212 E Michigan City, IN 46360

    Sponsored
    For Sale
    $89,999

    LAND - Michigan City, IN

    Lot size:
    1.59 Acres
    Days on Market:
    10
    Last Refresh:
    Jan 25 at 7:06 am

    Property Features for Hwy 212 E

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    460136252005000022
    Lot size
    1.59 Acres

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    Meghan Maddox

    MTM Realty Group (219) 324-4640

    Listing agent Meghan Maddox (219) 877-5795

    Listing date Jan 16, 2026

    MLS# 826868 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Highway 212 Development Opportunity

    This 1.59-acre development site is located on Highway 212 and zoned B2, making it suitable for various commercial uses. The property benefits from high traffic counts and easy access, offering a significant opportunity to establish a business in a growing area. The two parcels provide flexible building options for future development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Michigan City
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.825848
    Latitude
    41.700857

    Nearby Similar for Sale

    • $620,000
      2,881 SF

      Commercial Space in Downtown

      Adaptable commercial space in the heart of Michigan City.
      600 Wabash St, Michigan City, IN 46360
      View Details
    • $300,000
      0.28 Acres

      Michigan City Investment Property

      Four-unit multifamily property in Michigan City, Indiana.
      401 E Garfield St, Michigan City, IN 46360
      View Details
    • $1,600,000
      21,730 SF

      Mixed-Use Property Near Chicago Train

      Mixed-use property near train to Chicago with development potential.
      710 Franklin St, Michigan City, IN 46360
      View Details
    • $2,000,000
      34,574 SF

      Truck Terminal and Dispatch Site

      10-acre truck terminal with three buildings for sale.
      20 1111, Michigan City, IN
      View Details
    • $2,698,000
      79,052 SF

      Versatile Sports Complex for Sale

      79,052 SF sports complex adaptable to industrial uses.
      301 W Kieffer Rd, Michigan City, IN 46360
      View Details
    • $3,250,000
      50,600 SF

      Michigan City Retail/Industrial Opportunity

      50,000+ sq. ft. building on 7.285 acres for sale.
      432 Saint John Rd, Michigan City, IN 46360
      View Details
    • $1,125,000
      3,955 SF

      Michigan City Commercial Property For Sale

      Commercial property with ample parking and highway frontage available for sale.
      402 W Us Highway 20, Michigan City, IN 46360
      View Details
    • $1,000,000
      2,350 SF

      Turn Key Retail Space ForSale

      Retail space with equipment and upper level residence for sale.
      909 Franklin St, Michigan City, IN 46360
      View Details
    • $1,200,000
      6,400 SF

      Established Sports Bar for Sale

      Full-service sports bar with licenses and outdoor patio.
      204 W Barker Ave, Michigan City, IN 46360
      View Details
    • $3,250,000

      Michigan City Retail/Industrial Opportunity

      50,000+ sq. ft. retail/industrial building on 7.285 acres.
      432 St. John Rd, Michigan City, IN 46360
      View Details
    • $1,900,000
      21,000 SF

      Michigan City Warehouse - $1.9M

      21,000 SF Warehouse, 6 Units, Indiana
      205 Woodcreek Dr, Michigan City, IN 46360
      View Details
    • $999,000
      10,049 SF

      Michigan City Flex Space Investment

      10,049 SF Flex Space, $999,000
      1409 Franklin St, Michigan City, IN 46360
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.59-acre commercial land with high visibility on Highway 212.
    Where is this commercial land located?
    The property is located at Hwy 212 E Michigan City, IN.
    What is the asking price?
    The asking price for this property is $89,999.
    What are key features of this property?
    This property features: - Prime 1.59-acre development site.; - Exceptional visibility on Highway 212.; - Zoned B2, ideal for a variety of commercial uses.
    (219) 877-5795
    Request Owner's contact information
    Hwy 212 E Michigan City, IN 46360
    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.
    Hwy 212 E
    Michigan City, IN 46360
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Hwy 212 E Michigan City, IN 46360
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Meghan Maddox
    Real Estate License ID: RB20001861
    (219) 877-5795
    Learn more
    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.