Two-Unit Medical Office
1200 S Woodland Avenue Michigan City, IN 46360
1200 S Woodland Avenue, Michigan City, IN, 46360
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For Sale
Contact for pricing
Two-unit office building currently medical/office space and fully leased with 17 parking spaces.
Property Size2,512 SF
Price / SF$139.29
Days on Market119
Property Features for 1200 S Woodland Avenue
General Information
- Standard status
- Active
- Size
- 2,512 SF
- Property subtype
- Office
Building Details
- Year Built
- 1987
Listing agency
@properties/Christie's International Real Estate
Listed by
Brian Volckmann · License #RB14046783
Source
Crexi
Added: Mar 27 Updated: Jul 22 at 8:31PM Checked: Jul 22 at 8:31PM
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 @properties/Christie's International Real Estate
Investment Insights
Based on property information with market context.
This two-unit commercial building is currently configured for medical/office use and is fully leased. The property offers a simple, income-producing setup with two distinct units within the same building.
Located on a busy corner on S Woodland Avenue in Michigan City, the site provides ample off-street parking with 17 spaces, supporting convenient tenant and visitor access. The property is zoned B2.
The offering is presented as a two-unit building with parking and an existing medical/office configuration, designed for continued occupancy under the current layout.
Located on a busy corner on S Woodland Avenue in Michigan City, the site provides ample off-street parking with 17 spaces, supporting convenient tenant and visitor access. The property is zoned B2.
The offering is presented as a two-unit building with parking and an existing medical/office configuration, designed for continued occupancy under the current layout.
Key Highlights
- Two‑unit commercial office building built in 1987, currently medical/office space
- Fully leased with gross rent of $36,000 annually
- Busy corner location with 17 on‑site parking spaces
Local Financial Insights For Healthcare Medical
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 | $54.3k | $21.60 |
| − Vacancy | −$3.6k | −$1.45 |
| EGI | $50.6k | $20.15 |
| − OpEx | −$20.2k | −$8.06 |
| NOI | $30.4k | $12.09 |
2,512 SF · lease $21.60/SF/yr · vacancy 6.70% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$433.9K
$379.7K – $506.2K
NOI $30,374 @ 7.0% cap · market cap 8.68%
Second Best
Office B
$366.6K
$320.8K – $427.7K
NOI $25,660 @ 7.0% cap · market cap 7.33%
Theoretical Best
Specialty Retail
$698.3K
$611.1K – $814.7K
NOI $48,884 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bionic Prosthetics & Orthotics
Orthotics & Prosthetics Service
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Two-unit office building currently medical/office space and fully leased with 17 parking spaces.
Where is this medical office space located?
The property is located at 1200 S Woodland Avenue Michigan City, IN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit commercial office building built in 1987, currently medical/office space; Fully leased with gross rent of $36,000 annually; Busy corner location with 17 on‑site parking spaces
