Property profile

3207 Franklin St Michigan City, IN 46360

FOR LEASE
Strip malls
Property ID
US31-1526201
28,750 SF 2.34 ac lot Built 1953
Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional retail opportunity presents 5,756 square feet of vacant space within a thriving shopping center in La Porte County, Indiana. Located at 3207 Franklin Street, Suite 3221, this Class C property boasts a highly visible location on Franklin Street, benefiting from over 18,500 vehicles passing daily. The space features an open floor plan, ideal for a variety of retail uses, and offers significant flexibility. Leasing options include the entire 5,756 square feet or divisible units starting at 2,500 square feet, with a maximum contiguous space of 5,756 square feet. The property includes 40 feet of desirable window frontage, enhancing visibility and attracting customers. Convenient rear access via an overhead door simplifies deliveries and receiving. Ample parking is available for both employees and customers. The center is anchored by a CVS Pharmacy, ensuring consistent foot traffic and a strong retail environment. Situated just two miles from the intersection of Highways 80 and 94, this location offers unparalleled accessibility and exposure. The property sits on a 2.34-acre lot and was built in 1953. Lighted pylon signage is also available, further enhancing the property's visibility. This is an excellent opportunity for businesses seeking a high-traffic, well-located retail space in a bustling commercial area. The property is easily accessible and offers a great opportunity for growth and success.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1953
Construction TYPE NOT SPECIFIED
Total area 28,750 SF
Lot 2.34 ac (101,974 SF)
APN 46-05-05-228-003.000-009
UPID US31-1526201

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Nail Salon
  • Nail Salon

Location

3207 Franklin St Michigan City, IN 46360
Michigan City metro Census 40400 MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$660k
CAP Approach CAP
by Request
Comparable Approach Comparable
$714k
Blend (final) Blend
$660k

Owner & transaction history

since 2021
2 recorded transactions
2021
Price N/A
2007
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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