High-Visibility Commercial Redevelopment
3417 Franklin Street Michigan Michigan City, IN 46360
For Sale
$1,075,000
4,702 SF property with redevelopment potential in a prime location.
Property Size4,702 SF
Lot Size0.79 Acres
Price / SF$228.63
Days on Market106
Property Features for 3417 Franklin Street Michigan
General Information
- Standard status
- Active
- Size
- 4,702 SF
- Lot size
- 0.79 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1959
Listing Agency:
RE/MAX
(219) 241-8401
Listed By:
Matt Evans · License #RB14034485
Source:
Remaxcommercial
Added: Apr 10
Changed: Jul 10
Last Checked: Jul 23 at 2:33AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This 4,702 SF property is positioned in a high-visibility commercial corridor on a 0.79-acre site. The location benefits from strong daily exposure and consistent consumer flow, with an average daily traffic count of over 19,340 VPD (2025). Currently configured as a tunnel car wash with updated equipment and an established loyal customer base, the building includes a welcoming waiting area and reception/office space. It is also equipped to support vacuum services and full interior/exterior detailing operations. The property is adjacent to McDonald’s and Biggby Coffee. With B-2 (General Commercial) zoning, this property presents exceptional versatility for adaptive reuse. Potential redevelopment opportunities include retail, office, restaurant, medical, or service-oriented concepts. The property has an estimated 14+ parking spots and features block and metal construction. It offers the location, infrastructure, and flexibility to bring your vision to life.
Key Highlights
- High‑visibility location in a commercial corridor with 19,340+ VPD traffic count.
- Zoned B‑2 (General Commercial) allowing for flexible redevelopment opportunities.
- 4,702 SF building on a .79‑acre site.
Financial Insights For Specialty Retail
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 | $127.0k | $27.00 |
| − Vacancy | −$5.0k | −$1.05 |
| EGI | $122.0k | $25.95 |
| − OpEx | −$30.5k | −$6.49 |
| NOI | $91.5k | $19.46 |
4,702 SF · lease $27.00/SF/yr · vacancy 3.90% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.14M – $1.53M
NOI $91,502 @ 7.0% cap · market cap 8.51%
Second Best
Retail
$632.6K
$553.5K – $738.0K
NOI $44,282 @ 7.0% cap · market cap 4.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Victory Lane Auto ...
Car Wash
FAQs
What type of property is this?
Car wash - 4,702 SF property with redevelopment potential in a prime location.
Where is this car wash located?
The property is located at 3417 Franklin Street Michigan Michigan City, IN.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: High‑visibility location in a commercial corridor with 19,340+ VPD traffic count.; Zoned B‑2 (General Commercial) allowing for flexible redevelopment opportunities.; 4,702 SF building on a .79‑acre site.
