Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Michigan City Commercial Land Opportunity Title is generated by Realmo AI

    S Woodland Avenue, Michigan City, IN 46360

    View on Map
    Claim this Listing
    For Sale
    $299,000

    Commercial Land - Michigan City, IN

    Lot size:
    17.53 Acres
    Added:
    Dec 13, 2024
    Days on Market:
    513
    Last Refresh:
    May 10 at 6:06 pm

    Property Features for S Woodland Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    General Commercial District
    Standard status
    Active
    APN
    46-05-03-300-025.000-009
    Lot size
    17.53 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2280

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Evan Lattner

    Listing agent Evan Lattner License #RB24000130

    Listing office Midwest Land & Lifestyle LLC 10555 Hampton Place, Newburgh, IN

    Listing date Dec 13, 2024

    MLS# 202447070 Listing URL

    Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Highly versatile B2 General Commercial zoning allows for a wide range of by‑right uses.
    • All public utilities available at the site, simplifying development.
    • Excellent location with 250' of road frontage on S Woodland Ave.
    • Located approximately one mile from a major commercial corridor.
    • The 17.53 +\/- acre site is flat and out of the floodplain, making it ideal for construction.
    • Multifamily development potential in an area with medium to high‑density residential developments nearby.

    Overview

    This 17.53 +/- acre commercial land parcel is located on the southeast side of Michigan City limits and is suited for development. The tract is flat, out of the floodplain, and features 250' of road frontage along S Woodland Ave. All public utilities are available to the site, including city water/sewer, electric, and gas. The property is zoned B2 - General Commercial District, which allows for a variety of uses including farm equipment dealers, commercial greenhouses, veterinary hospitals, retail stores, convenience stores, grocery stores, liquor stores, pharmacies, car rental facilities, hotels/motels, restaurants/bars, banks, day-care centers, funeral homes/cemeteries, medical offices, gyms/athletic clubs, shooting ranges, churches, and schools. The zoning allows for three-story or 40 ft height limit. The site also has multifamily potential. It is located approximately one mile from a commercial corridor off of Hwy 421 with a Meijer, Walmart Supercenter, dining/entertainment, and shopping. The property is proximate to the elementary, middle, and high school as well as several public parks/nature preserves. It is located approximately 600 feet south of the State Road 20 intersection. Multiple medium to high-density residential developments are in the vicinity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Michigan City
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.87252
    Latitude
    41.684862

    Nearby Similar for Sale

    • $749,000
      3,960 SF

      Move-In Ready Office Building

      Professionally designed office building in Edgewood neighborhood with ample parking.
      2814 Franklin Street, Michigan City, IN 46360
      View Details
    • $1,075,000
      4,702 SF

      Versatile Commercial Property in Michigan City

      4,702 SF commercial property on 0.79 acres in Michigan City.
      3417 Franklin Street, Michigan City, IN 46360
      View Details
    • $350,000

      Commercial Land Near I-94

      5.38 acres of commercial land in Michigan City, Indiana.
      3886 N 950 W, Michigan City, IN 46360
      View Details
    • $1,399,000
      2 SF

      Prime Commercial Land Opportunity

      1.72-acre corner lot in Michigan City's retail corridor.
      Franklin St, Michigan City, IN 46360
      View Details
    • $750,000
      1,712 SF

      Restaurant with Income-Generating Home

      Turn-key restaurant with updated systems and a separate 2-bedroom home.
      615 E In-212, Michigan City, IN 46360
      View Details
    • $615,000

      Michigan City Multifamily Airbnb Property

      Established Airbnb near Lake Michigan and downtown Michigan City.
      116 Fogarty Street, Michigan City, IN 46360
      View Details
    • $750,000
      1,712 SF

      Michigan City Commercial Property For Sale

      Commercial property for sale in Michigan City, Indiana.
      615 E Indiana 212, Michigan City, IN 46360
      View Details
    • $549,000

      Mixed-Use Investment Opportunity

      Fully leased mixed-use property with retail and residential units.
      1115 Franklin Street, Michigan City, IN 46360
      View Details
    • $35,000

      Michigan City Land Opportunity

      1.67 acres near Lake Michigan with commercial/residential zoning.
      Hwy 12, Michigan City, IN 46360
      View Details
    • $469,000

      Michigan City Turnkey Investment Opportunity

      Well-maintained four-unit income property in a rapidly growing area.
      413 E 10th Street, Michigan City, IN 46360
      View Details
    • $199,000
      1,170,512 SF

      Corner Parcel with Two Buildings

      Large corner parcel with two buildings in booming Dunes area.
      2702 W Dunes Highway, Michigan City, IN 46360
      View Details
    • $1,075,000
      4,702 SF

      High-Visibility Commercial Redevelopment Opportunity

      4,702 SF property with redevelopment potential in a prime location.
      3417 Franklin Street, Michigan, City, IN 46360
      View Details

    FAQs

    What type of property is this?
    Commercial land - 17.53 acre commercial land parcel in Michigan City, Indiana.
    Where is this commercial land located?
    The property is located at S Woodland Avenue Michigan City, IN.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Highly versatile B2 General Commercial zoning allows for a wide range of by‑right uses.; All public utilities available at the site, simplifying development.; Excellent location with **250' of road frontage** on S Woodland Ave.
    (812) 604-5344
    We can help!
    Listing Contact
    Evan Lattner
    Real Estate License ID: RB24000130
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    S Woodland Avenue, Michigan City, IN 46360
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!