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Property profile & analytics
FOR LEASE
Auto shops
1111 Us Highway 20, Michigan City, IN 46360
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US31-1384689
For Lease
1 / 14
$8 SF/Yr
1111 Us Highway 20, Michigan City, IN 46360
View Listing →
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1985
Construction
TYPE NOT SPECIFIED
Total area
18,404 SF
Lot
10 ac (435,600 SF)
APN
46-05-06-400-007.000-046
UPID
US31-1384689
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$965k
Owner & transaction history
Michigan City Holdings LLC
Michigan City Holdings LLC
since 2026
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,460,000
Current use
RESTAURANT
$1,370,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$1,300,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$52 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,356
Tax year 2023
Assessed value
$772,800
Assessed 2023
Previous assessed
$772,800
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$312,000
Assessed improvement
$460,800
Land market value
$312,000
Improvement market value
$460,800
Total market value
$772,800
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Lease
Year built
1985
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
3
Stories
2
Total area
18,404 SF
Lot
10 ac (435,600 SF)
APN
46-05-06-400-007.000-046
UPID
US31-1384689
Jurisdiction
LA PORTE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
AUTO REPAIR, GARAGE Current
RESTAURANT
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
3
Lot
10 ac
Current owner
From public records · entity-resolved
Michigan City Holdings LLC
Entity
Mailing address
BALDWINSVILLE, NY 13027
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2026
—
Michigan City Holdings LLC
1111 W Us Hwy 20 LLC
Deed
$1,500,000 · 1111 W Us Hwy 20 LLC
Mar 23, 2026
$2,000,000
Michigan City Holdings LLC
1111 W Us Hwy 20 LLC
Deed
$1,500,000 · 1111 W Us Hwy 20 LLC
Apr 23, 2014
—
1111 W Us Hwy 20 LLC
General Investment Holdings Corp
Warranty Deed
—
Sep 27, 2013
—
General Investment LLC
Lake Shore Properties
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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