2701 Franklin St 03 Michigan City, IN 46360-6137

This exceptional Class A, 4,157 square foot storefront investment property, located at 2701 Franklin St, Michigan City, IN 46360, presents a compelling opportunity. Priced at $625,000, it boasts a strong 8.86% cap rate and a substantial net operating income (NOI) of $55,391. The property features two 100% occupied units under a triple net (NNN) lease with a remaining term of 4.3 years (expiring 2/28/2029). The lease commenced on 12/31/2019, and includes rent escalation clauses. Built in 1924 and extensively renovated in 2020-2021, this single-story building sits on a 6,686 square foot lot and offers 25 parking spaces. Modern updates include high-efficiency furnaces, three-phase electric, LED lighting, closed-cell insulation, and a Nova basement system. The B2 Commercial zoning ensures flexibility, and the prime corner location on bustling Franklin Street guarantees high visibility and foot traffic. This stabilized investment offers a secure and profitable venture with long-term tenants, including an optometry practice and a salon. The property's strong financials and desirable location make it an ideal addition to any portfolio.