Mixed-Use Building with Office
2710 Franklin Street, Michigan City, IN 46360
For Sale
$369,900
Commercial Sale, Michigan City, IN
Property Size4,454 SF
Lot Size0.19 Acres
Price / SF$83.05
Days on Market187
Property Features for 2710 Franklin Street
General Information
Property type
Property subtype
Zoning description
Rooms
Parking
Parking features
Security features
Interior features
Exterior features
Basement
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Standard status
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Additional Details
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Building Details
Year built
Buildings
Listing Agency:
McColly Real Estate
(219) 325-4404
Listed By:
Cynthia Schoof
(219) 363-9979
Added: May 8
Changed: Nov 10
Last Checked: Nov 10 at 5:06PM
MLS# 838552
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1904, this 4,454-square-foot mixed-use property combines office and residential components. The original first floor includes an open reception area, three offices, a conference room, and a private restroom. A later 82' x 24' single-story addition provides four additional offices, a 19'4" x 13'4" meeting and break room, open work area, private restroom, separate mechanical systems, and multiple entrances.
The second floor contains a two-bedroom, one-bath rental unit with its own utilities and mechanicals. The property also includes a 24' x 15' attached garage, private parking, on-street parking, and an engineered access ramp at the side entrance. Public water and public sewer serve the building, which is zoned B-2 and located along Michigan City's Public Transportation routes 1 and 3.
The second floor contains a two-bedroom, one-bath rental unit with its own utilities and mechanicals. The property also includes a 24' x 15' attached garage, private parking, on-street parking, and an engineered access ramp at the side entrance. Public water and public sewer serve the building, which is zoned B-2 and located along Michigan City's Public Transportation routes 1 and 3.
Key Highlights
- 4,454‑square‑foot mixed‑use building constructed in 1904
- B‑2 zoning with office and residential components
- First‑floor office layout includes three offices and a conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,165
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,300
$603.3K
Cap Rate 7%
$430,929
$430.9K
Cap Rate 9%
$335,167
$335.2K
Market Conditions
NOI Build-Up for 4,454 SF
Gross rent
$53.4K $12.00/SF
− Vacancy
−$5.2K −$1.16/SF
EGI
$48.3K $10.84/SF
− OpEx
−$18.1K −$4.06/SF
NOI
$30.2K $6.77/SF
Area
LaPorte County, IN
Vacancy
9.70%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,300
Cap Rate 7%
$430,929
Cap Rate 9%
$335,167
Alternative Uses
Best Use
Office B
$650.0K
$568.7K – $758.3K
NOI $45,498 @ 7.0% cap · market cap 12.30%
Second Best
Mixed Use
$430.9K
$377.1K – $502.8K
NOI $30,165 @ 7.0% cap · market cap 8.15%
Theoretical Best
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,676 @ 7.0% cap · market cap 23.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Early 20th-century property combines professional office areas with a separate two-bedroom residential rental unit.
Where is this mixed-use property located?
The property is located at 2710 Franklin Street Michigan City, IN.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 4,454‑square‑foot mixed‑use building constructed in 1904; B‑2 zoning with office and residential components; First‑floor office layout includes three offices and a conference room
