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    332 Us-20 Michigan City, IN 46360

    Sponsored
    For Sale
    $1,125,000

    38,190 SF Warehouse, Vacant, Great Location

    Property size:
    38,190 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 38,190-square-foot warehouse, built in 1965, is situated on a 2.03-acre lot in Michigan City, Indiana (APN: 46-05-08-202-001.000-009). The property is classified as Class C industrial and is currently vacant. It features one single-story building with overhead doors and ample parking (45,700 square feet of paved parking). Municipal water and sewer services are available. The asking price is $1,125,000, translating to $29.46 per square foot. The property boasts a valuable annual income stream generated by an on-site billboard. Its B2 zoning permits various commercial uses, including restaurants, retail establishments, and hotels. The location is highly advantageous, adjacent to Dunes Plaza Shopping Mall (anchored by PetSmart, TJ Maxx, Dollar General, Ross, and Five Below), and just minutes from Franklin Street, a busy thoroughfare with over 19,000 vehicles passing daily. The property's proximity to US 421, I-94, and Michigan City's waterfront and beaches further enhances its appeal. This warehouse is part of a larger portfolio, offering additional acreage for potential development. Limited competition in the area presents a significant investment opportunity.

    Property Features for 332 Us-20

    General Information

    Property type
    Distribution properties
    Square Feet
    38,190 SF
    Class
    C
    Lot Size
    88,427 SF

    Building Details

    Year Built
    1965
    Buildings
    1
    Stories
    1

    HighLights

    • 38,190 SF warehouse on a 2.03‑acre lot in Michigan City, IN (APN: 46‑05‑08‑202‑001.000‑009).
    • Class C industrial building, currently vacant, built in 1965.
    • $1,125,000 asking price ($29.46/SF).
    • Features ample parking (45,700 SF paved), overhead doors, municipal water & sewer.
    • B2 zoning allows for various commercial uses, including restaurants, retail, and hotels.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Map

    City
    Michigan City
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.90081
    Latitude
    41.6797167

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    FAQs

    What type of property is this?
    Distribution property - 38,190 SF Warehouse, Vacant, Great Location
    Where is this distribution property located?
    The property is located at 332 Us-20 Michigan City, IN.
    What is the asking price?
    The asking price for this property is $1,125,000.
    What are key features of this property?
    This property features: 38,190 SF warehouse on a 2.03-acre lot in Michigan City, IN (APN: 46-05-08-202-001.000-009).; Class C industrial building, currently vacant, built in 1965.; $1,125,000 asking price ($29.46/SF).
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    Michigan City, IN 46360
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    Realmo Value Estimation

    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.

    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.

    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
    332 Us-20 Michigan City, IN 46360
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