Industrial Flex Facility with
For Sale
$3,000,000
100 Anchor Rd, Michigan City, IN 46360
Versatile industrial space supports manufacturing, distribution, and service operations with substantial power and loading infrastructure.
Property Size60,500 SF
Price / SF$49.59
Days on Market33
Property Features for 100 Anchor Rd
General Information
Standard status
Active
Size
60,500 SF
Building Details
Year Built
1975
Listing Agency:
McColly Real Estate
(219) 378-8308
Listed By:
Michael Becze · License #RB22000047
Source:
Realtopiare
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 25 at 5:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McColly Real Estate
Investment Insights
Based on property information with market context.
This 52,016-square-foot flex facility offers a configurable layout for either multi-tenant or single-tenant occupancy. The building includes 10,500 square feet of office space, four docklevelers, one manual lift, and three overhead doors. Clear heights range from 16 to 20 feet, and the property provides 103 parking stalls.
Infrastructure includes 1,600A, 480V, three-phase power with multiple transformers and subpanels. The facility was built in 1975 and is positioned along Anchor Road in Michigan City’s commercial corridor, with highway access noted in the property information. A gross lease structure including utilities and taxes is also available as described.
Infrastructure includes 1,600A, 480V, three-phase power with multiple transformers and subpanels. The facility was built in 1975 and is positioned along Anchor Road in Michigan City’s commercial corridor, with highway access noted in the property information. A gross lease structure including utilities and taxes is also available as described.
Key Highlights
- 52,016 SF total building area with 10,500 SF of office space
- Loading includes four docklevelers, one manual lift, and 3 overhead doors
- 16'-20' clear ceiling heights
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$230,215
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,604,300
$4.6M
Cap Rate 7%
$3,288,786
$3.3M
Cap Rate 9%
$2,557,944
$2.6M
Market Conditions
NOI Build-Up for 60,500 SF
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.
Gross rent
$363.0K $6.00/SF
− Vacancy
−$34.1K −$0.56/SF
EGI
$328.9K $5.44/SF
− OpEx
−$98.7K −$1.63/SF
NOI
$230.2K $3.81/SF
Area
LaPorte County, IN
Vacancy
9.40%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,604,300
Cap Rate 7%
$3,288,786
Cap Rate 9%
$2,557,944
Alternative Uses
Best Use
Flex RnD
$11.18M
$9.78M – $13.04M
NOI $782,316 @ 7.0% cap · market cap 26.08%
Second Best
Warehouse
$3.99M
$3.49M – $4.66M
NOI $279,546 @ 7.0% cap · market cap 9.32%
Theoretical Best
Specialty Retail
$16.82M
$14.72M – $19.62M
NOI $1,177,345 @ 7.0% cap · market cap 39.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46360, IN
44,209
Population
21,652
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
90%
High-School Grad
76.6 sq mi
ZIP Area
577
Density / Sq Mi
$59,641
Median Household Income
$36,738
Median Earnings
$924
Median Rent
$155,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial space supports manufacturing, distribution, and service operations with substantial power and loading infrastructure.
Where is this flex space located?
The property is located at 100 Anchor Rd Michigan City, IN.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 52,016 SF total building area with 10,500 SF of office space; Loading includes four docklevelers, one manual lift, and 3 overhead doors; 16'-20' clear ceiling heights
