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    326 Us-20 Michigan City, IN 46360

    For Sale
    $1,600,000

    Prime 3.5-acre commercial lot with existing motel.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 3.5-acre commercial property, located at 326 US-20 in Michigan City, Indiana (zip code 46360), presents a unique investment opportunity. The asking price is $1,600,000. The lot size is 152,460 square feet and is zoned for commercial use. Currently situated on the land is a vacant motel building. This presents two distinct possibilities: renovation and operation of the existing motel, subject to meeting city codes and requirements, or demolition to make way for a new commercial venture. An environmental study and stake survey have already been completed, streamlining the development process. The seller is open to considering lease options for either the motel building or the land itself. A significant advantage is the presence of a billboard on the property, generating supplemental monthly income. This high-traffic location on US-20 makes it one of the most desirable commercial sites in Michigan City, offering excellent visibility and accessibility. The property's potential is vast, catering to a wide range of commercial uses. Contact us for further details and to explore this compelling investment opportunity.

    Property Features for 326 Us-20

    General Information

    Property type
    Land

    HighLights

    • 3.5‑acre commercial lot in Michigan City, IN (46360), priced at $1,600,000.
    • 152,460 square foot lot zoned for commercial use.
    • Features a vacant motel building, offering redevelopment or demolition options.
    • Environmental study and stake survey already completed.
    • Seller open to lease options.
    • Includes an income‑generating billboard.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Michigan City
    County
    La Porte
    State
    Indiana
    Longitude
    -86.8822445
    Latitude
    41.6985831

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    FAQs

    What type of property is this?
    Land - Prime 3.5-acre commercial lot with existing motel.
    Where is this land located?
    The property is located at 326 Us-20 Michigan City, IN.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: 3.5-acre commercial lot in Michigan City, IN (46360), priced at $1,600,000.; 152,460 square foot lot zoned for commercial use.; Features a vacant motel building, offering redevelopment or demolition options.
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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
    326 Us-20 Michigan City, IN 46360
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