ADA-Compliant Office
For Sale
$749,000
2814 Franklin Street, Michigan City, IN 46360
SINGLE_FAMILY - Michigan City, IN
Property Size3,960 SF
Lot Size0.51 Acres
Price / SF$189.14
Days on Market129
Property Features for 2814 Franklin Street
General Information
Property type
Residential
Property subtype
Office
Parking
27
Parking features
Alley, Off Street
Security features
Security System
Subdivision
Oaklawn Add
Directions
From Hwy 20 Head North On Franklin St. Go through the stoplight at Coolspring Ave. Building will be on the right at the corner of Franklin St and Gardena
Standard status
Active
APN
460133312022000022
Size
3,960 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
42-01-33-312-022 OAKLAWN ADD LOT 1 & VAC 15 FT ALLEY BTW LTS 1 & 2 BLK 3
Tax Annual Amount
5871
Legal Description
42-01-33-312-022 OAKLAWN ADD LOT 1 & VAC 15 FT ALLEY BTW LTS 1 & 2 BLK 3
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
waiting room
reception area
skylights
break area
employee bathroom
ADA compliant
ramp access
irrigated landscaping
active security system
Building Details
Year built
1962
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(269) 469-3950
Listed By:
Zane Galloway · License #RB16000549
(219) 707-9282
Added: Mar 30
Changed: Aug 3
Last Checked: Aug 5 at 4:06AM
MLS# 836234
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.
Move-in ready office building along Franklin St in the Edgewood neighborhood. The building is solidly built of CMU block, brick, and stucco, and was professionally designed and fully remodeled in 1994. Interior features include a bright waiting room and a large reception area, skylights that add natural light through the halls, and a layout with 10 offices including two large offices suitable for conference use. Two small testing rooms are located between the hall and reception area, along with additional storage rooms for organization and secure document storage. A utility room provides both interior and exterior access.
The property is ADA compliant with two ADA bathrooms and easy ramp access from the parking lot. The large, private off-street parking lot has 27 spaces and multiple points of ingress and egress. Landscaping and grass are irrigated.
Exterior improvements include a new vinyl roof and underlayment insulation installed in 2016, plus an IB roof coating in 2024. The building has an active security system through Sentinel Alarm and uses natural gas forced air heating. Public water and public sewer services are provided. The layout also allows for the potential of multiple tenants.
The property is ADA compliant with two ADA bathrooms and easy ramp access from the parking lot. The large, private off-street parking lot has 27 spaces and multiple points of ingress and egress. Landscaping and grass are irrigated.
Exterior improvements include a new vinyl roof and underlayment insulation installed in 2016, plus an IB roof coating in 2024. The building has an active security system through Sentinel Alarm and uses natural gas forced air heating. Public water and public sewer services are provided. The layout also allows for the potential of multiple tenants.
Key Highlights
- 27‑space private parking lot with multiple points of ingress and egress
- ADA compliant with two ADA bathrooms and ramp access from the parking lot
- Professionally designed and fully remodeled in 1994
Financial Insights For Office B
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 | $59.4k | $15.00 |
| − Vacancy | −$5.5k | −$1.38 |
| EGI | $53.9k | $13.62 |
| − OpEx | −$13.5k | −$3.41 |
| NOI | $40.5k | $10.22 |
3,960 SF · lease $15.00/SF/yr · vacancy 9.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$577.9K
$505.6K – $674.2K
NOI $40,451 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.10M
$963.3K – $1.28M
NOI $77,063 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
982
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Move-in ready office building with remodeled interiors, skylit reception, and ADA access with two ADA bathrooms.
Where is this office building located?
The property is located at 2814 Franklin Street Michigan City, IN.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 27‑space private parking lot with multiple points of ingress and egress; ADA compliant with two ADA bathrooms and ramp access from the parking lot; Professionally designed and fully remodeled in 1994
