Property profile

3015 E Michigan Blvd Trail Creek, IN 46360

FOR SALE
Retail space
Property ID
US31-2311041
2,304 SF 0.71 ac lot Built 1970
Entity Owned 8-yr Hold Free & Clear
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Property summary

AI-generated overview

Exceptional opportunity to acquire a thriving Class A bar and restaurant located at 3015 E Michigan Blvd, Trail Creek, IN 46360. This 2,304 square foot, single-story building sits on a 0.71-acre lot and boasts a full liquor license. Completely renovated in 2019, the property features a desirable location on busy Michigan Boulevard, placing it near numerous businesses, the municipal golf course, Long Beach, and within minutes of SR-20 and I-94, ensuring high visibility and convenient access. The asking price is $550,000, translating to $238.72 per square foot. This owner-user investment presents a unique chance to own a well-established business in a vibrant community. The property is zoned for commercial retail use and offers significant potential for continued success. Michigan City's diverse economy, including tourism, manufacturing, and retail, provides a strong customer base. The area is known for its attractions, such as the Old Lighthouse Museum and Washington Park, which includes a beach and recreational facilities. This turnkey operation is ready for immediate occupancy and presents a compelling investment opportunity for a discerning buyer. The property's prime location and established clientele make it an ideal acquisition for an experienced restaurateur or investor seeking a profitable venture in a thriving market. Don't miss this chance to own a piece of Michigan City's vibrant culinary scene.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1970
Construction WOOD
Total area 2,304 SF
Lot 0.71 ac (30,928 SF)
APN 46-01-35-153-002.000-026
UPID US31-2311041

Cap rate & NOI

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

Location

3015 E Michigan Blvd Trail Creek, IN 46360
Trail Creek metro Census 40600 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 2018
2 recorded transactions
2018
Price N/A
2014
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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