Property profile

523 Franklin St Michigan City, IN 46360

OFF-MARKET
Specialty properties
12,132 SF Built 1890
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Property summary

AI-generated overview

This exceptional 12,132 square foot commercial property, located at 523 Franklin Street in Michigan City, Indiana (zip code 46360), presents a unique investment opportunity. The building, constructed in 1890 and extensively renovated in 2023, boasts a single-tenant occupancy with 3,150 square feet currently vacant. The property is zoned commercial and features a traditional office subtype, ideal for a variety of businesses. The single-story building offers a 10-foot ceiling height, adding to its spacious feel. The building's prime location on Franklin Street, with cross access to 5th Street, ensures high visibility and accessibility. The vacant space includes a great street-level retail area, complemented by several large offices or storage rooms, and a small break room. The exposed brick and high ceilings create a unique and attractive atmosphere. The property's rich history is blended seamlessly with modern updates, offering a blend of character and functionality. This is a rare opportunity to acquire a well-maintained, historically significant commercial space in a thriving Indiana community. The property's size and layout offer flexibility for a range of commercial uses. Don't miss this chance to secure a prominent location in a desirable area.

Property profile

Verified
Property type Specialty properties
Year built 1890
Total area 12,132 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

523 Franklin St Michigan City, IN 46360
Michigan City metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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