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Property profile & analytics
FOR LEASE
Strip malls

3207 Franklin St Michigan City, IN 46360

28,750 SF 2.34 ac lot Built 1953
Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US31-1526201
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Diamond Nails Nail Salon
  • Sisters Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$660k
CAP Approach CAP
by Request
Comparable Approach Comparable
$714k
Blend (final) Blend
$685k
Owner & transaction history
Michigan Plus LLC · 4 yrs held
Michigan Plus LLC
since 2021
2 recorded transactions
2021
Price N/A
2007
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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