Property profile

110 9th St Michigan City, IN 46360

OFF-MARKET
Turn key restaurants
Property ID
US31-2243740
12,271 SF 0.11 ac lot Built 1900
Entity Owned 5-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 3,200 square foot commercial property, located at 110 W 9th Street in Michigan City, Indiana's vibrant Uptown Arts District, presents a unique investment opportunity. Currently configured as an event space, this single-tenant property boasts a spacious open floor plan ideal for a variety of uses. Features include a built-in stage, DJ booth, and two restrooms. Existing stereo equipment is included, although a prospective tenant is responsible for verifying its functionality. The property's C1 zoning allows for diverse possibilities, including upscale event venues, dance studios, yoga/pilates studios, or fitness centers. Situated on the second floor, this location offers convenient access to the South Shore Train, providing a direct route to Chicago in approximately 60 minutes. The property benefits from its proximity to significant developments, including the $93 million-plus Station Block mixed-use project featuring over 200 residential units and commercial retail space, and the $230 million Sola residence hotel development. This prime location within a rapidly growing lakefront community offers exceptional potential for future appreciation. The property's APN is 46-01-29-412-001.000-022, 46-01-29-412-002.000-022, and is located in La Porte County, zip code 46360.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1900
Construction TYPE NOT SPECIFIED
Total area 12,271 SF
Lot 0.11 ac (5,000 SF)
APN 46-01-29-458-013.000-022
UPID US31-2243740

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Take-out & Catering Catering Service
  • Restaurant

Location

110 9th St Michigan City, IN 46360-3504
Michigan City metro Census 43000 MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$275k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2020
3 recorded transactions
2022
Price N/A
2020
Price N/A
2017
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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