Individually Owned 
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Property summary
This exceptional commercial investment opportunity, located at 1416 Franklin Street in Michigan City, Indiana, presents a unique blend of office and warehouse space. The property, encompassing nearly half a city block (0.42 acres), features two buildings constructed in 1947 and totaling 10,418 net rentable square feet. Currently, the complex boasts six units with 25% occupancy, offering significant potential for increased rental income. The property's zoning is B2, allowing for diverse… commercial uses. The main building, situated on Franklin Street, includes two street-facing office spaces (1416 & 1418), and one occupied rental unit. Additionally, there's an office on Ripley Street, two warehouse entrances with separate addresses (110-112 Ripley St), overhead doors, a loading dock, alley access, and dry basements. A courtyard and billboard rental further enhance income streams. The property is conveniently located three blocks from the South Shore train station, providing excellent accessibility. A recent survey (November 2022) is available. The asking price is $498,500, and the lease type is net. This is a multi-tenant property with significant upside potential. Don't miss this chance to acquire a substantial commercial property in a thriving location.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2023
Value estimate
· Sep 2026Realmo valuation models over county records and 7 qualifying comparable sales.
Recently sold
Cap rate analysis
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 6 properties nearbyComparable nearby
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 6,173 SF
- Lot area
- 0.42 ac
- Year built
- 1947
- Stories
- 2
- APN
- 46-01-32-229-011.000-022
- Assessed value · 2023
- $215,000
- Annual tax · 2023
- $5,771
- Estimated market rent / SF
- Potential gross income
- Vacancy allowance
- Effective gross income
- Benchmark operating expenses
- Stabilized NOI
- Property tax · 2023
- $5,771
- Selected cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Michigan City market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Local Zoning Insight
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- Location Insight
- Alternative use
- Local Zoning Insight
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- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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