Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Iconic Pizza Business Opportunity Title is generated by Realmo AI

    2400 Franklin Street, Michigan City, IN 46360

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Turnkey Roma's Pizza business for sale in Michigan City.

    Type:Special Purpose, Land
    Property size:
    1,588 SF
    Price / SF:
    $31/SF
    Added:
    Apr 23, 2025
    Days on Market:
    395
    Last Refresh:
    Mar 16 at 1:14 pm

    Property Features for 2400 Franklin Street

    General Information

    Standard status
    Active
    Size
    1,588 SF
    Property subtype
    Special Purpose, Land

    We can help!

    Listing Contact
    Carla Ebert Kienitz

    Listing agent Carla Ebert Kienitz License #RB14050668

    Listing office Century 21 Affiliated Michigan City

    Listing date Apr 23, 2025

    Source Crexi

    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 Century 21 Affiliated Michigan City

    HighLights

    • Turnkey Roma's Pizza business with established brand recognition and loyal customer base.
    • Prime location near Lake Michigan beaches, Blue Chip Casino, Prime Outlet Mall, Washington Park Zoo, and major highways.
    • Spacious dining room suitable for large parties and community gatherings.
    • Includes all necessary equipment for immediate operation.
    • Affordable building lease at approximately $1,500/month.
    • Opportunity to own a Michigan City staple with big potential in a thriving food scene.

    Overview

    Roma's Pizza, a well-known restaurant in Michigan City, is available for purchase. This business-only sale includes all equipment necessary for continued operation and a loyal customer base. The property features a spacious dining room suitable for large parties and community gatherings. The location is near Lake Michigan beaches, Blue Chip Casino, Prime Outlet Mall, Washington Park Zoo, and major highways. The building lease rental is approximately $1,500 per month. This is an opportunity for restaurateurs or entrepreneurs to enter the food scene.
    Location Intelligence

    Current Use by Public Records

    Roma Pizza Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Michigan City
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.8941093
    Latitude
    41.7023856

    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
    • $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
    • $369,900
      2,544 SF

      Commercial Building with Income Potential

      Pristine commercial building with apartment and handicap access.
      2710 Franklin 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
    • $599,900

      Michigan City Multifamily Airbnb Property

      Established Airbnb near Lake Michigan and downtown Michigan City.
      116 Fogarty Street, Michigan City, IN 46360
      View Details
    • $149,999
      2,184 SF

      Michigan City Multi-Family Property

      Two-unit property with four bedrooms and three baths.
      115 Greenwood Avenue, 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
    • $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
    • $999,000

      Michigan City Sports Bar For Sale

      Full-service sports bar with 3-way liquor license and gaming license.
      204 W Barker Ave, Michigan City, IN 46360
      View Details
    • $799,900

      Restaurant Property on Franklin Street

      Restaurant property with frontage on Franklin Street, near Highway 20.
      3940 Franklin St, Michigan City, IN, 46360-7315
      View Details
    • $899,900
      3,069 SF

      Modern Commercial Space on 4.5 Acres

      Modern, flexible commercial space with room to grow near Highway.
      9856 W 400 N, Michigan City, IN 46360
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey Roma's Pizza business for sale in Michigan City.
    Where is this conventional restaurant located?
    The property is located at 2400 Franklin Street Michigan City, IN.
    What is the asking price?
    The asking price for this property is $50,000.
    What are key features of this property?
    This property features: Turnkey Roma's Pizza business with established brand recognition and loyal customer base.; Prime location near Lake Michigan beaches, Blue Chip Casino, Prime Outlet Mall, Washington Park Zoo, and major highways.; Spacious dining room suitable for large parties and community gatherings.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Carla Ebert Kienitz
    Real Estate License ID: RB14050668
    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
    2400 Franklin Street, 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!