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Modern Commercial Space on 4.5 Acres

9856 W 400 N, Michigan City, IN 46360

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For Sale

$899,900

Modern, flexible commercial space with room to grow near Highway.

Type:Commercial/Industrial

Property size:

3,069 SF

Lot size:

4.35 Acres

Price / SF:

$293/SF

We can help!

Contact an agent

Stacey Matthys

Real Estate License ID: RB14038624

HighLights

Prime location with high visibility near Highway 421 and I‑94, providing easy access to Chicago and Northwest Indiana.
Flexible space suitable for various professional uses, including medical, dental, veterinary, or banking.
Functional layout featuring multiple patient rooms, a large lobby, lab, and break room.
Ample room for future expansion on just under 4.5 acres.
20+ parking spaces available.
Contemporary design creating a sophisticated and welcoming environment.

For Sale

$899,900

Modern, flexible commercial space with room to grow near Highway.

Type:Commercial/Industrial

Property size:

3,069 SF

Lot size:

4.35 Acres

Price / SF:

$293/SF

Added:: Sep 25, 2024
Days on Market:: 651
Last Refresh:: Jun 28 at 11:56 am

Property Features for 9856 W 400 N

General Information

Standard status: Active
Size: 3,069 SF
Lot size: 4.35 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1998

We can help!

Contact an agent

Stacey Matthys

Listing office Brokerworks Group

Listing date Sep 25, 2024

Source Exitrealty

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 Brokerworks Group

HighLights

Prime location with high visibility near Highway 421 and I‑94, providing easy access to Chicago and Northwest Indiana.
Flexible space suitable for various professional uses, including medical, dental, veterinary, or banking.
Functional layout featuring multiple patient rooms, a large lobby, lab, and break room.
Ample room for future expansion on just under 4.5 acres.
20+ parking spaces available.
Contemporary design creating a sophisticated and welcoming environment.

Overview

This modern, flexible commercial space offers an exceptional opportunity to establish or expand your business. The property is ideally suited for an ophthalmology or dental office, veterinarian clinic, or bank, as well as other professional uses. The functional layout includes multiple patient rooms, a large lobby, lab, and break room, making it perfectly suited for one or two professionals. Situated on just under 4.5 acres, the property features 20+ parking spaces and ample room for future expansion. Its location near Highway 421 and I-94 provides easy access to Chicago and surrounding Northwest Indiana communities. Nearby dining and retail options enhance daily operations. The property's contemporary design creates a sophisticated and welcoming environment for both clients and staff. The property size is 3069 square feet.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$82.9k	$27.00
− Vacancy	−$3.2k	−$1.05
EGI	$79.6k	$25.95
− OpEx	−$19.9k	−$6.49
NOI	$59.7k	$19.46

3,069 SF · lease $27.00/SF/yr · vacancy 3.90% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$853.2K

$746.6K – $995.4K (±1% cap)

NOI $59,724 @ 7.0% cap · market cap 6.64%

Second Best

Healthcare Medical

$530.1K

$463.9K – $618.5K (±1% cap)

NOI $37,109 @ 7.0% cap · market cap 4.12%

Theoretical Best

—

same as Best Use

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Dr. Adam Sergiwa Pediatrician Lincoln Pediatrics Pc Pediatrician

Suggested Use

Location Insight

Map
Local Demand

City: Michigan City
County: LaPorte
State: Indiana
Longitude: -86.893002
Latitude: 41.66553

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What type of property is this?

Medical Office Space - Modern, flexible commercial space with room to grow near Highway.

Where is this medical office space located?

The property is located at 9856 W 400 N Michigan City, IN.

What is the asking price?

The asking price for this property is $899,900.

What are key features of this property?

This property features: Prime location with high visibility near Highway 421 and I‑94, providing easy access to Chicago and Northwest Indiana.; Flexible space suitable for various professional uses, including medical, dental, veterinary, or banking.; Functional layout featuring multiple patient rooms, a large lobby, lab, and break room.