3207 Franklin St Michigan City, IN 46360
- Strip malls
- 28,750 SF
- 2.34 lot acres
Current Use by Public Records
- Diamond Nails / Nail Salon
- Sisters Nails / Nail Salon
Property Details for 3207 Franklin St
- Year built
- 1953
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 2.34 lot acres
- Property size
- 28,750 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 46-05-05-228-003.000-009
- APU
- 460505228003000009
Description
This exceptional retail opportunity presents 5,756 square feet of vacant space within a thriving shopping center in La Porte County, Indiana. Located at 3207 Franklin Street, Suite 3221, this Class C property boasts a highly visible location on Franklin Street, benefiting from over 18,500 vehicles passing daily. The space features an open floor plan, ideal for a variety of retail uses, and offers significant flexibility. Leasing options include the entire 5,756 square feet or divisible units starting at 2,500 square feet, with a maximum contiguous space of 5,756 square feet. The property includes 40 feet of desirable window frontage, enhancing visibility and attracting customers. Convenient rear access via an overhead door simplifies deliveries and receiving. Ample parking is available for both employees and customers. The center is anchored by a CVS Pharmacy, ensuring consistent foot traffic and a strong retail environment. Situated just two miles from the intersection of Highways 80 and 94, this location offers unparalleled accessibility and exposure. The property sits on a 2.34-acre lot and was built in 1953. Lighted pylon signage is also available, further enhancing the property's visibility. This is an excellent opportunity for businesses seeking a high-traffic, well-located retail space in a bustling commercial area. The property is easily accessible and offers a great opportunity for growth and success.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $660,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $785,000
- 6.5%
- $765,000
- 7%
- $765,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $855,000
- Geo Method
- $695,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $925,000
- Retail
- $810,000
- Mixed-Use
- $855,000
- Hospitality
- $730,000
- Educational
- $960,000
- Residential Income
- $830,000
- Energy
- $855,000
- Income-Based Land
- $930,000
- Food Service
- $945,000
Location Insight
- Map
- Local Demand
- City
- Michigan City
- County
- Laporte
- State
- Indiana
- Longitude
- -86.8945
- Latitude
- 41.6941
- CBSA code
- 33140
- CBSA name
- MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA
