910 Franklin St Michigan City, IN 46360
This 1,300 sq ft restaurant, located at 910 Franklin St, Michigan City, IN 46360, presents a unique owner-user investment opportunity. The property, built in 1925 and completely renovated in 2023, boasts a prime location in the downtown Arts District, near the South Shore Double Tracks and Lake Michigan beaches. The asking price is $169,900, reflecting a price per square foot of $130.69. The building sits on a 0.113 sq ft lot (APN: 460129476009000022). Over $100,000 was invested in building renovations and over $97,000 in new pizza equipment. The current lease, with approximately three years remaining, is $800 per month and includes a renewal option. This established business benefits from a highly visible location near the Blue Chip Casino, Prime Outlet Mall, and the zoo, attracting significant foot traffic. The sale includes the business and its established clientele. The property's charming exterior, envisioned with a white picket fence and cozy sidewalk seating, adds to its appeal. This turnkey operation is ready for a new owner to capitalize on its success and prime location. The business is open and ready to go.
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Riccardo's Pizzeria Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.