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Property profile & analytics
OFF-MARKET
Retail space

3401 Franklin St Michigan City, IN 46360-7008

3,264 SF 0.41 ac lot Built 1964
Entity Owned 4-yr Hold Absentee Owner Free & Clear
Property ID
US31-1968441
Property summary
AI-generated overview

This 3,264 square foot retail building, situated on a 0.405-acre lot in Michigan City, Indiana, presents a unique investment opportunity. Built in 1964, the single-story structure is currently configured as a two-tenant retail space, with 1,800 square feet immediately available for lease. The property, zoned Commercial (APN: 46-05-05-277-011.000-009), boasts high ceilings and overhead doors, offering flexible design possibilities for a variety of retail uses. The landlord will deliver the space as a warm white box shell to a qualified tenant. This prime location on the north side of Michigan City places the property conveniently between Interstate 94 and the vibrant downtown area, which features attractions such as the Lighthouse Outlet mall, Lake Michigan beach, and the Shoreline Brewery. The minimum divisible space is 1,800 square feet, and the maximum contiguous space available is also 1,800 square feet. The property's former life as a service station adds to its character and potential. This is an exceptional opportunity to establish a retail presence in a thriving Indiana community.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1964
Construction WOOD
Total area 3,264 SF
Lot 0.41 ac (17,642 SF)
APN 46-05-05-277-011.000-009
UPID US31-1968441
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
  • Cynthia Zarazee, Century 21 Affiliated Real Estate Agency
  • Jamal Agemy-Century 21 Affiliated Realtor Real Estate Agency
  • BIGGBY COFFEE Restaurant
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
3401 Franklin LLC · 4 yrs held
3401 Franklin LLC
since 2022
2 recorded transactions
2022
Price N/A
2015
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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