Mixed-Use Property with
New
For Sale
$600,000
615 In-212, Michigan City, IN 46360
Commercial Sale, Michigan City, IN
Property Size2,520 SF
Lot Size0.71 Acres
Price / SF$238.10
Days on Market7
Property Features for 615 In-212
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Parking features
Off Street
Exterior features
Lighting, Rain Gutters
Appliances
Built-In Gas Range, Range Hood, Gas Cooktop, Electric Cooktop, Dishwasher
Lot features
Back Yard, Rectangular Lot
Directions
Enter Saigon Bar and Grill for gps. on 212 close to Michigan Boulevard
Standard status
Active
APN
460136176005000022
Size
2,520 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
42-01-36-176-005 104 X 300.75 FT IN E 1/2 W 1/2 NW 1/4 S36 T38 R4 .713 AC
Tax Annual Amount
3519
Legal Description
42-01-36-176-005 104 X 300.75 FT IN E 1/2 W 1/2 NW 1/4 S36 T38 R4 .713 AC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1948
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(269) 469-3950
Listed By:
Scott Popp
(312) 391-8841
Added: Sep 30
Changed: Oct 5
Last Checked: Oct 6 at 1:06PM
MLS# 846235
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.
This mixed-use property contains both commercial and residential space in a 2,520-square-foot building on a 0.713-acre parcel. Furniture and equipment are included. The 1948-built property has off-street parking, exterior lighting, and rain gutters.
The building is served by public water and public sewer, with natural gas forced-air heating. Cable service is available. Kitchen appliances include a built-in gas range, range hood, gas cooktop, electric cooktop, and dishwasher.
The building is served by public water and public sewer, with natural gas forced-air heating. Cable service is available. Kitchen appliances include a built-in gas range, range hood, gas cooktop, electric cooktop, and dishwasher.
Key Highlights
- Commercial and residential space in a 2,520‑square‑foot building
- 0.713‑acre parcel
- Furniture and equipment included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,040
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$980,800
$980.8K
Cap Rate 7%
$700,571
$700.6K
Cap Rate 9%
$544,889
$544.9K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$68.0K $27.00/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$65.4K $25.95/SF
− OpEx
−$16.3K −$6.49/SF
NOI
$49.0K $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%
$980,800
Cap Rate 7%
$700,571
Cap Rate 9%
$544,889
Alternative Uses
Best Use
Specialty Retail
$700.6K
$613.0K – $817.3K
NOI $49,040 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$289.6K
$253.4K – $337.8K
NOI $20,270 @ 7.0% cap · market cap 3.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
37
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines commercial and residential space, with furniture and equipment included in the sale.
Where is this mixed-use property located?
The property is located at 615 In-212 Michigan City, IN.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Commercial and residential space in a 2,520‑square‑foot building; 0.713‑acre parcel; Furniture and equipment included
