326 Us-20 Michigan City, IN 46360
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 326 Us-20
- Property type
- Retail properties
- Property subtype
- Land
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Michigan City
- County
- La Porte
- State
- Indiana
- Longitude
- -86.8822
- Latitude
- 41.6986
