Mixed-Use Building with Office
For Sale
$369,900
2710 Franklin Street, Michigan City, IN 46360
Commercial Sale, Michigan City, IN
Property Size4,454 SF
Lot Size0.19 Acres
Price / SF$83.05
Days on Market152
Property Features for 2710 Franklin Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking
6
Parking features
On Street, Garage
Security features
Security System
Interior features
Stone Counters
Exterior features
Private Yard
Basement
Full
Accessibility
Accessible Approach with Ramp
Appliances
Refrigerator
Subdivision
Sanborns 4th Add
View
City
Directions
East side of Franklin Street in mid-town, north of US Hwy 20, south of the Art district. Laying just north of Gardena Street, south of Harrison. Street parking in front or rear entry from alleyway off Gardena or Harrison.
Standard status
Active
APN
460133309003000022
Size
4,454 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
42-01-33-309-003 SANBORNS 4TH LT 3 BLK 42.
Tax Annual Amount
3409
Legal Description
42-01-33-309-003 SANBORNS 4TH LT 3 BLK 42.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central
Water source
Public
Building Details
Year built
1904
Listing Agency:
McColly Real Estate
(219) 325-4404
Listed By:
Cynthia Schoof
(219) 363-9979
Added: May 8
Changed: Sep 12
Last Checked: Oct 6 at 6:06PM
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.
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.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Midwest region
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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
