523 Franklin St Michigan City, IN 46360
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.
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
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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.