600 Wabash StMichigan City, IN 46360

Property Details for 600 Wabash St

Year built

2003

Construction

WOOD

Lot size

0.47 AC

Property size (Sq ft)

2,881 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

46-01-29-406-002.000-022

APU

460129406002000022

Description

This exceptional 2,888 square foot restaurant, built in 2003, is located on a 0.47-acre lot at 600 Wabash St, Michigan City, IN 46360. Situated directly across from the Lighthouse Premium Outlets, this single-unit property enjoys unparalleled visibility and high foot traffic. The CBD1 zoning allows for a variety of uses. The property features a spacious dining area, a well-appointed kitchen, and a unique, grandfathered-in drive-thru window. Ample off-street parking is available for customers. The 100% occupancy rate speaks to the property's desirability. This prime location offers easy access to major highways and benefits from the proximity to Lake Michigan and the thriving Central Business District. The asking price is $1,199,000 ($415.17/sq ft). This presents a significant opportunity for restaurateurs seeking a high-visibility location with established customer traffic. The potential to add a special district liquor license further enhances the investment potential. This is a rare opportunity to acquire a well-established restaurant in a booming tourist area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,361,031

  6.5%

  $1,256,336

  7%

  $1,166,598

• Comparable approach

  Method

  Valuation

  Relative Method

  $945,631

  Geo Method

  $945,631

• Alternative Use

  Use

  Valuation

  Residential

  $1,059,766

  Hospitality

  $970,740

  Educational

  $807,645

  Medical

  $835,421

  Retail

  $1,256,336

Location Insight

City

Michigan City

County

Laporte

State

Indiana

Latitude

41.7151

Longitude

-86.9037

CBSA code

33140

CBSA name

MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.