Tunnel Car Wash
3417 Franklin Street, Michigan City, IN 46360
For Sale
$997,600
Commercial Sale, Michigan City, IN
Property Size4,702 SF
Lot Size0.79 Acres
Price / SF$212.17
Days on Market224
Property Features for 3417 Franklin Street
General Information
Property type
Property subtype
Parking
Parking features
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Water source
Amenities
waiting area
reception/office space
Building Details
Year built
Listing Agency:
RE/MAX Lifestyles · RE/MAX International
(219) 462-2121
Listed By:
Matt Evans · License IN RB14034485
(219) 241-8401
Added: Apr 1
Changed: Oct 20
Last Checked: Nov 10 at 6:06PM
MLS# 836463
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.
This 4,702-square-foot tunnel car wash property sits on 0.793 acres and includes a waiting area, reception and office space, plus equipment supporting vacuum service and interior and exterior detailing. The improvements use block and metal construction and were built in 1959. Wash equipment has been updated over time, and the current layout includes an estimated 14+ parking spaces.
The property is located at 3417 Franklin Street in Michigan City, adjacent to McDonald's and Biggby Coffee. The site records an average daily traffic count of over 19,340 VPD (2025), providing substantial exposure along the commercial corridor. Public water and public sewer serve the property. B-2 General Commercial zoning allows consideration of retail, office, restaurant, medical, and service-oriented concepts, with all proposed uses subject to verification by the City of Michigan City.
The property is located at 3417 Franklin Street in Michigan City, adjacent to McDonald's and Biggby Coffee. The site records an average daily traffic count of over 19,340 VPD (2025), providing substantial exposure along the commercial corridor. Public water and public sewer serve the property. B-2 General Commercial zoning allows consideration of retail, office, restaurant, medical, and service-oriented concepts, with all proposed uses subject to verification by the City of Michigan City.
Key Highlights
- 4,702 SF tunnel car wash on 0.793 acres
- Average daily traffic of over 19,340 VPD (2025)
- B‑2 (General Commercial) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,502
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,830,040
$1.8M
Cap Rate 7%
$1,307,171
$1.3M
Cap Rate 9%
$1,016,689
$1.0M
Market Conditions
NOI Build-Up for 4,702 SF
Gross rent
$127.0K $27.00/SF
− Vacancy
−$5.0K −$1.05/SF
EGI
$122.0K $25.95/SF
− OpEx
−$30.5K −$6.49/SF
NOI
$91.5K $19.46/SF
Area
LaPorte County, IN
Vacancy
3.90%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,830,040
Cap Rate 7%
$1,307,171
Cap Rate 9%
$1,016,689
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.14M – $1.53M
NOI $91,502 @ 7.0% cap · market cap 9.17%
Second Best
Retail
$632.6K
$553.5K – $738.0K
NOI $44,282 @ 7.0% cap · market cap 4.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
19,340 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
255
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Car wash - B-2 commercial site with existing wash infrastructure, customer service areas, and flexibility for other commercial uses subject to municipal approval.
Where is this car wash located?
The property is located at 3417 Franklin Street Michigan City, IN.
What is the asking price?
The asking price for this property is $997,600.
What are key features of this property?
This property features: 4,702 SF tunnel car wash on 0.793 acres; Average daily traffic of over 19,340 VPD (2025); B‑2 (General Commercial) zoning
