Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1005 Michigan Blvd Michigan City, IN 46360
    Back to Search
    Property profile & analytics

    1005 Michigan Blvd, Michigan City, IN 46360

    View on Map
    • Warehouses
    • 16,917 SF
    • 0.39 lot acres
    Off-Market
    Last Sale Oct 26, 2021
    Property ID
    US31-2096522
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1005 Michigan Blvd

    Year built
    1926
    Construction
    WOOD
    Lot size
    0.39 lot acres
    Property type
    Warehouses
    APN
    46-01-28-336-002.000-022
    APU
    460128336002000022

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 26, 2021 $4,901 Jmj Group LLC Laporte County Clerk Public Action · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Michigan City
    County
    Laporte
    State
    Indiana
    Longitude
    -86.8892
    Latitude
    41.7137
    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
    $258
    $7,600
    $1,000
    $8,600
    -
    $7,600
    $1,000
    $8,600

    Comparable in this City

    • Value Estimation by Request
      38,190 SF

      332 Us-20

      Distribution properties
      332 Us-20, Michigan City, IN 46360
      View Details
    • Value Estimation by Request
      510 SF

      Nn 300th Ww

      STORAGE YARD, OPEN STORAGE
      Nn 300th Ww, Michigan City, IN 46360
      View Details
    • Value Estimation by Request
      220 SF

      Nn 300th Ww

      STORAGE YARD, OPEN STORAGE
      Nn 300th Ww, Michigan City, IN 46360
      View Details
    • Value Estimation by Request
      2,640 SF

      599 Sheridan Ave

      WAREHOUSE, STORAGE
      599 Sheridan Ave, Michigan City, IN 46360-4156
      View Details
    • Value Estimation by Request

      10157 Ave

      Refrigerated & Cold Storage
      10157 Ave, Michigan City, IN 46360
      View Details
    • Value Estimation by Request
      8,373 SF

      8th St

      WAREHOUSE, STORAGE
      8th St, Michigan City, IN 46360
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Michigan City Development Opportunity Zone

      1.89-acre development site in Michigan City's Opportunity Zone.
      234 E 2Nd St, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Versatile Mixed-Use Investment Opportunity

      Multi-tenant property near South Shore train station and luxury apartments.
      1416 Franklin St, Michigan City, IN 46360
      View Details
    • Contact for pricing
      79,052 SF

      Versatile Sports Complex for Sale

      79,052 SF sports complex adaptable for industrial or warehouse use.
      301 W Kieffer Rd, Michigan City, IN 46360
      View Details
    • Contact for pricing
      24,286 SF

      Industrial Facility with Expansion Potential

      9.979-acre property with manufacturing facility and expansion land.
      1700 Us Highway 12, Michigan City, IN 46360
      View Details
    • Contact for pricing
      79,052 SF

      Versatile Sports Complex for Sale

      79,052 SF sports complex adaptable to industrial uses.
      301 W Kieffer Rd, Michigan City, IN 46360
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      63,500 SF

      Industrial Flex Facility

      Flexible industrial and flex options with docklevelers, drive-in loading, and strong power for manufacturing, distribution, and service needs.
      100 Anchor Rd, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Industrial Space with Planned Renovations

      400,827 SF industrial space available for lease.
      402 Royal Rd, Michigan City, IN 46360
      View Details
    • Contact for pricing
      1,513 SF

      Michigan City Flex/Industrial Space

      Flex/Industrial space available for lease in Michigan City, Indiana.
      7654 E St U.S 20, Michigan City, IN 46360
      View Details
    • Contact for pricing

      Industrial Single Tenant Space

      Industrial single tenant property available for lease.
      1111 Us Highway 20, Michigan City, IN 46360
      View Details
    • Contact for pricing
      10,838 SF

      Michigan City Commercial Building For Lease

      10,838 SF commercial building in vibrant Michigan City, Indiana.
      1551 South Woodland Ave, Michigan City, IN 46360
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1005 Michigan Blvd
    Michigan City, IN 46360
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1005 Michigan Blvd, Michigan City, IN, 46360
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!