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    Property profile & analytics

    402 Royal Rd Michigan City, IN 46360

    • Warehouses
    • 387,581 SF
    • 67.35 lot acres
    For Lease
    View listing
    Value Estimation
    $765,000
    Last Sale
    Jan 03, 2023
    Location Intelligence
    Property ID
    US31-2141179
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 402 Royal Rd

    Year built
    1962
    Construction
    TYPE NOT SPECIFIED
    Lot size
    67.35 lot acres
    Property size
    387,581 SF
    Property type
    Warehouses
    APN
    46-01-26-400-008.000-022
    APU
    460126400008000022

    Description

    This expansive industrial property, located at 402 Royal Road in Michigan City, Indiana, offers 400,827 square feet of versatile space ideal for manufacturing, warehousing, distribution, or flex operations. Currently entirely vacant, this multi-tenant building boasts 4 suites, with a minimum divisible space of 50,000 square feet and the potential to lease the entire 400,827 square feet contiguously. Built in 1960 and situated on a substantial 67.35 acres, the property features a 16-foot ceiling height, ample loading capabilities with 17 loading docks and 4 drive-ins, and extensive parking with 250 spaces. The property benefits from robust power infrastructure, including 480v, 3-phase, 8,000 amps service. Zoned M-1 (Light Industrial), this location offers convenient access and is further enhanced by 11,259 square feet of covered exterior storage. Planned renovations are scheduled for the second quarter of 2023. The property's APN is 46-01-26-400-008.000-022, and it is located in LaPorte County, Indiana, zip code 46360. This is a rare opportunity to secure a significant industrial footprint in a prime location.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $770,000

    • CAP approach

      CAP return
      Estimation
      6%
      $855,000
      6.5%
      $835,000
      7%
      $755,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $905,000
      Geo Method
      $920,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $925,000
      Retail
      $750,000
      Mixed-Use
      $810,000
      Hospitality
      $840,000
      Educational
      $860,000
      Residential Income
      $990,000
      Energy
      $840,000
      Income-Based Land
      $830,000
      Food Service
      $820,000

    Location Insight

    • Map
    • Local Demand
    City
    Michigan City
    County
    Laporte
    State
    Indiana
    Longitude
    -86.8442
    Latitude
    41.7141
    CBSA code
    33140
    CBSA name
    MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,119
    $601,300
    $134,800
    $736,100
    -
    $601,300
    $134,800
    $736,100

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    Michigan City, IN 46360
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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