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    Property profile & analytics
    FOR SALE
    Retail space

    717 Michigan Ave, La Porte, IN 46350

    20,868 SF 0.13 ac lot Built 1889
    Entity Owned Free & Clear
    Property ID
    US31-1715383
    Property summary
    AI-generated overview

    This exceptional 20,868-square-foot, three-story Class C office building, constructed in 1889, is situated in the heart of historic downtown La Porte, Indiana. The property, located at 717 Michigan Ave (APN 46-06-35-439-012.000-043), sits on a 0.127-acre lot and offers a unique investment opportunity. Currently, the first two floors are fully leased with long-term tenants, providing a stable rental income stream. The third floor is available for an owner-occupier seeking additional rental income or conversion into multi-residential apartments. This multi-tenant building boasts elevator access to all floors and benefits from a large, adjacent parking lot—a rare amenity for a downtown location. Its prime location qualifies it for the Urban Enterprise Grant Program, and its proximity to major highways (including easy access to Hwy 35/39 and State Hwy 2) and the planned South Shore double-track train project enhances its appeal. The South Shore expansion will significantly improve La Porte County's accessibility to Chicago by rail. This property presents a compelling blend of historical charm, strong rental income potential, and strategic location. The asking price is $725,000.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 1889
    Construction WOOD
    Total area 20,868 SF
    Lot 0.13 ac (5,566 SF)
    APN 46-06-35-439-012.000-043
    UPID US31-1715383
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • John T. Heroldt, EdD Physician Medical Clinic
    • Edward Jones - Financial Advisor: Jonathan E Salisbury, AAMS® Financial Advisor
    • Hair by Hannah Watt Hair Salon
    • Parcel Port Courier Service Postal Service
    • UPS Authorized Shipping Outlet Courier Service Postal Service
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $445k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $677k
    Blend (final) Blend
    $560k
    Owner & transaction history
    BL PROPERTIES LLC
    BL PROPERTIES LLC
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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