Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5330-5360 Franklin St Michigan City, IN

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail spaces available on heavily trafficked US Highway 421.

    Type:RETAIL
    Property size:
    1,360 SF
    Lot size:
    0.84 Acres
    Added:
    Sep 24, 2025
    Days on Market:
    191
    Last Refresh:
    Mar 29 at 9:05 pm

    Property Features for 5330-5360 Franklin St

    General Information

    Standard status
    Active
    Size
    1,360 SF
    Lot size
    0.84 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 5330-5360 Franklin St Contact us

    We can help!

    Listing Contact
    Brett McDermott
    Brett McDermott

    Listing agent Brett McDermott

    Listing office Latitude Commercial

    Listing date Sep 24, 2025

    Source Moodyscre

    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 Latitude Commercial

    Overview

    Retail Space on Franklin Street

    Retail spaces are now leasing in Michigan City, Indiana. The property is located on highly traveled US Highway 421 (Franklin Street) in the heart of the retail trade area. Two spaces are available, including a 1,520 square foot endcap with maximum visibility, as well as a 1,600 square foot inline space previously used by a national pizza brand. The property is an out lot to Menards and is surrounded by national retailers. This is the last unit available in the building and a great opportunity to locate in the strongest retail corridor of Michigan City, Indiana.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Michigan City
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.8933
    Latitude
    41.6702

    Nearby Similar for Lease

    • Contact for pricing

      Professional Office Space For Lease

      Move-in ready office suite in high-visibility location.
      1026 N Karwick Road unit: A, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Prime Commercial Space For Lease

      Versatile commercial space in high-visibility location, surrounded by major businesses.
      5180 Franklin Street, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Michigan City Commercial Rental Opportunity

      Versatile commercial space near lakefront, shops, and new developments.
      230 Commerce Square unit: D2, Michigan City, IN 46360
      View Details
    • $9/mo

      Michigan City Industrial/Flex Facility

      Multi-tenant industrial/flex facility with heavy infrastructure and highway access.
      100 Anchor Road, Michigan City, IN 46360
      View Details
    • $21,730/mo

      Michigan City Mixed-Use Opportunity

      Desirable property suitable for offices, retail, or mixed-use development.
      710 Franklin Street, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Michigan City Commercial Building For Lease

      10,838 SF commercial building in vibrant Michigan City, Indiana.
      1551 South Woodland Avenue, Michigan City, IN, 46360
      View Details
    • $8/mo

      Retail/Office Space on US HWY

      Two 1,600 SF suites available for rent.
      1702-1724 US Hwy 20, Michigan City, IN
      View Details
    • Contact for pricing

      Truck Terminal and Dispatch Site

      10-acre truck terminal with three buildings for sale.
      W US Highway 20 1111, Michigan City, IN
      View Details
    • $9/mo

      Retail Space on Franklin Street

      5,756 SF retail space with high traffic and parking.
      3207-3299 Franklin St, Michigan City, IN
      View Details
    • $8/mo

      Industrial Single Tenant Space

      Industrial single tenant property available for lease.
      1111 US-20, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Retail Space Inside Meijer Store

      Prime retail opportunity with high visibility and customer traffic.
      5150 Franklin St, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,600 square feet.
      1712 US-20, Michigan City, IN 46360
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces available on heavily trafficked US Highway 421.
    Where is this retail space located?
    The property is located at 5330-5360 Franklin St Michigan City, IN.
    What are key features of this property?
    This property features: Located on highly traveled US Highway 421 (Franklin Street) in the heart of the retail trade area.; Out lot to Menards, surrounded by national retailers.; **Maximum visibility endcap unit available (1,520 SF).**
    (219) 545-4328 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brett McDermott
    Brett McDermott
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!