Storefront Property Near Lake
For Sale
$595,000
3636 E Us Highway 12, Michigan City, IN 46360
Commercial space positioned near Beachtown and Lake Michigan attractions.
Property Size5,000 SF
Price / SF$119
Days on Market60
Property Features for 3636 E Us Highway 12
General Information
Standard status
Active
Size
5,000 SF
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,842
Listing Agency:
Berkshire Hathaway HomeService
(312) 282-1813
Listed By:
Michelle Mochoruk
(312) 282-1813
Source:
Exprealty
Added: Jun 12
Changed: Aug 9
Last Checked: Aug 9 at 3:01PM
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 Berkshire Hathaway HomeService
Investment Insights
Based on property information with market context.
This storefront property comprises 5,000 square feet at 3636 E Us Highway 12 in Michigan City, Indiana. The site is presented for commercial concepts that may include retail, hospitality, office, dining, event center, or mixed-use applications.
The property is near Michigan City’s Beachtown district and minutes from Lake Michigan beaches. The surrounding area includes mixed-use development, boutique retail, restaurants, and destination attractions. Access to the South Shore Line, Indiana Dunes attractions, and Chicago-area visitors is also identified in the property information.
The property is near Michigan City’s Beachtown district and minutes from Lake Michigan beaches. The surrounding area includes mixed-use development, boutique retail, restaurants, and destination attractions. Access to the South Shore Line, Indiana Dunes attractions, and Chicago-area visitors is also identified in the property information.
Key Highlights
- 5,000‑square‑foot storefront property
- Located at 3636 E Us Highway 12, Michigan City, IN
- Near Michigan City’s Beachtown district
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,089
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$941,780
$941.8K
Cap Rate 7%
$672,700
$672.7K
Cap Rate 9%
$523,211
$523.2K
Market Conditions
NOI Build-Up for 5,000 SF
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.
Gross rent
$70.0K $14.00/SF
− Vacancy
−$2.7K −$0.55/SF
EGI
$67.3K $13.45/SF
− OpEx
−$20.2K −$4.04/SF
NOI
$47.1K $9.42/SF
Area
LaPorte County, IN
Vacancy
3.90%
Lease Rate
$14.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$941,780
Cap Rate 7%
$672,700
Cap Rate 9%
$523,211
Alternative Uses
Best Use
Retail
$672.7K
$588.6K – $784.8K
NOI $47,089 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,301 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Balanced
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial space positioned near Beachtown and Lake Michigan attractions.
Where is this storefront property located?
The property is located at 3636 E Us Highway 12 Michigan City, IN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 5,000‑square‑foot storefront property; Located at 3636 E Us Highway 12, Michigan City, IN; Near Michigan City’s Beachtown district
