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Financial
Distress signals
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
Last sale Sep 2021
Entity Owned Owner of record is a legal entity (LLC / corporation). 5-yr Hold Held for 5 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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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…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$22k
Tax billed · 2023
Assessed value$719k
Assessed land$181k
Assessed improvement$538k
Effective rate3.01%

Value estimate

· Oct 2026
$660k
$594k – $726k
AI approach$660k
Submarket $/SF estimate$714k
NOI build-up
Gross scheduled income$81k
Vacancy & credit loss−$3k
Operating expenses−$23k
NOI · 555,989.74% cap applied$54k

Realmo valuation models over county records.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?
555,989.74%
$54k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionLA PORTE

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency21.0
Law Firm14.3
Parking Facility11.7

Location

3207 Franklin St Michigan City, IN 46360
County assessor Recorded deeds · 2 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

2 recorded sales · 15 properties nearby
Recent sales nearby
2 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
5174 Franklin, Michigan City, IN 46360-7878 $3,750,000 May 2025 18,600 SF
5400 Franklin, Michigan City, IN 46360-7374 $845,000 Dec 2021 15,511 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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