Turn Key Retail Space
For Sale
Contact for pricing
909 Franklin St, Michigan City, IN
Retail space with equipment and upper level residence for sale.
Property Size2,350 SF
Lot Size0.09 Acres
Price / SF$425.53
Days on Market1091
Property Features for 909 Franklin St
General Information
Standard status
Active
Size
2,350 SF
Lot size
0.09 Acres
Property subtype
RETAIL
Listing Agency:
Coldwell Banker
(219) 464-3531
Listed By:
Ken Peach
(708) 764-2890
Source:
Moodyscre
Added: Nov 10, 2023
Changed: Sep 4
Last Checked: Oct 7 at 3:29PM
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 Coldwell Banker
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a turn-key retail space with all equipment included, suitable for a baking business. The property also features an upper-level residence that can be owner-occupied or rented out. A new train station is located less than two blocks away. The space is suitable for a coffee shop and pastries business. The property can be utilized for any type of retail or professional office space. It includes an attached 4-car garage built in 2002. The property size is 2350 square feet.
Key Highlights
- Turn‑key commercial space with all equipment included.
- Upper‑level residence offers living space or rental income potential.
- Proximity to new train station (less than 2 blocks).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,732
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$914,640
$914.6K
Cap Rate 7%
$653,314
$653.3K
Cap Rate 9%
$508,133
$508.1K
Market Conditions
NOI Build-Up for 2,350 SF
Gross rent
$63.5K $27.00/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$61.0K $25.95/SF
− OpEx
−$15.2K −$6.49/SF
NOI
$45.7K $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%
$914,640
Cap Rate 7%
$653,314
Cap Rate 9%
$508,133
Alternative Uses
Best Use
Specialty Retail
$653.3K
$571.7K – $762.2K
NOI $45,732 @ 7.0% cap · market cap 4.57%
Second Best
Retail
$316.2K
$276.7K – $368.9K
NOI $22,132 @ 7.0% cap · market cap 2.21%
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?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Retail space with equipment and upper level residence for sale.
Where is this retail space located?
The property is located at 909 Franklin St Michigan City, IN.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Turn‑key commercial space with all equipment included.; Upper‑level residence offers living space or rental income potential.; Proximity to new train station (less than 2 blocks).
