Neighborhood Shopping
For Sale
$1,475,000
1700-1724 US-20, Michigan City, IN 46360
Established retail property with daily-needs tenancy, highway exposure, and available suites for occupancy growth.
Property Size23,780 SF
Price / SF$62.03
Days on Market17
Property Features for 1700-1724 US-20
General Information
Standard status
Active
Size
23,780 SF
Property subtype
Shopping Strip
Occupancy
80%
Financials
Asking Price
$1,475,000
Cap Rate
8.58%
Site & Location
Traffic Count
19,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
79.82 Percent Occupied by a Diverse Mix of Service-Oriented Retail, Restaurant, and Personal Care Tenants.
Neighborhood-Oriented Tenancy Reduces Exposure to E-Commerce Disruption and Supports Long-Term Occupancy.
Offered at $62 per Square Foot, Representing an Attractive Entry Basis Well Below Today's Replacement Cost.
Immediate Upside Through Lease-Up of Approximately 4,800 Square Feet of Vacant Space.
Additional NOI Growth is Achievable Through Future Renewal of Below-Market Leases that Stand at Only $8.85 on Gross Leases.
Direct Frontage Along US Highway 20 (Over 19,000 Vehicles per Day) with Excellent Visibility.
Building Details
Building Size
23,780 SF
Year Built
1985
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Indianapolis
(317) 218-5324
Listed By:
David Klink · License #License(s): IN: RB14049256
(317) 218-5324
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 23
Last Checked: Aug 24 at 3:18AM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
Built in 1985, this 23,780-square-foot retail center includes a mix of local and regional businesses serving everyday customer needs. Current occupancy is 79.82%, with approximately 4,800 square feet available across three 1,600-square-foot suites. Existing tenants include Memo's House of Pancakes, Cosmo Prof, Ladybug Cleaners, Spa Nails, and Kuttin Up. The property reports an 8.58% going-in capitalization rate.
Positioned at 1700-1724 E HWY 20 in Michigan City, the center fronts US Highway 20, a commercial corridor carrying over 19,000 vehicles per day. The site also offers access to Interstate 94 and the broader Northwest Indiana trade area, supporting connections for local and commuter traffic.
Positioned at 1700-1724 E HWY 20 in Michigan City, the center fronts US Highway 20, a commercial corridor carrying over 19,000 vehicles per day. The site also offers access to Interstate 94 and the broader Northwest Indiana trade area, supporting connections for local and commuter traffic.
Key Highlights
- 23,780‑square‑foot retail center built in 1985
- 79.82% occupied with approximately 4,800 square feet available
- Three vacant 1,600‑square‑foot suites
Property Analytics
Current Use
Lease Details
19,000 VPD
Traffic count
79.8%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Under-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 Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Evergreen Plaza — 1902 US-20, Michigan City, IN 46360
Frequently Asked Questions
What type of property is this?
Shopping center - Established retail property with daily-needs tenancy, highway exposure, and available suites for occupancy growth.
Where is this shopping center located?
The property is located at 1700-1724 US-20 Michigan City, IN.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 23,780‑square‑foot retail center built in 1985; 79.82% occupied with approximately 4,800 square feet available; Three vacant 1,600‑square‑foot suites
