Property profile

1409 Franklin St Michigan City, IN 46360

OFF-MARKET
Commercial real estate
Property ID
US31-2207690
10,049 SF 0.11 ac lot Built 1949
Individually Owned Free & Clear
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Property summary

AI-generated overview

This exceptional 10,049 square foot retail showroom, located at 1409 Franklin Street in LaPorte County, presents a unique investment opportunity. Currently occupied by a single tenant, Rent-A-Center, the property boasts 5,049 square feet of immediately available space upon lease expiration at the end of 2024. The building, constructed in 1949, is zoned B2, offering flexibility for a variety of retail uses. The available space features a spacious showroom area, perfectly suited for showcasing products or services. In addition to the showroom, the property includes two private offices, providing ample space for administrative tasks or client meetings. A convenient bathroom is also included. The minimum divisible space is 5,049 square feet, making it ideal for a single tenant seeking a prominent location. This property represents a strong opportunity for businesses seeking high visibility and a well-established presence in a thriving LaPorte County market. The existing tenant provides a stable income stream until the lease expires, offering a seamless transition for a new occupant. This is a rare chance to acquire a well-located, versatile retail space with significant potential. The property's size and layout offer considerable adaptability for a range of retail concepts. Serious inquiries are encouraged.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1949
Construction WOOD
Total area 10,049 SF
Lot 0.11 ac (4,655 SF)
APN 46-01-32-228-014.000-022
UPID US31-2207690

Cap rate & NOI

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

Location

1409 Franklin St Michigan City, IN 46360
Michigan City metro Census 40300 MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$270k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

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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