3723 Franklin St Michigan City, IN 46360-7310

This exceptional investment opportunity presents a fee-simple interest in a 14,132 square foot medical office building located at 3723 Franklin St, Michigan City, IN 46360. The property is 100% occupied by Franciscan Physician Network, a highly-rated ("AA" Fitch rating) tenant under a Net Lease (NN) structure with a remaining lease term of approximately 4 years, plus a 5-year option. The lease commenced December 1, 2018, and expires November 30, 2028, featuring a 2% annual rent increase. The asking price is $1,299,000, representing a compelling 9.19% cap rate and a price per square foot of $91.92. Built in 1954 and renovated in 2018, this two-story building sits on a 1.06-acre lot. The property benefits from its strategic location less than three miles from Franciscan Health Michigan City hospital and its position on a high-traffic retail corridor (35,600+ vehicles daily) with easy access to US-20 and I-94. Significant local development projects, including the Franklin Project ($150 million projected economic impact) and the SoLa Development ($680 million projected economic impact), promise continued growth in the area. The property's proximity to major employers and amenities, including Walmart, Meijer, Lighthouse Place Premium Outlets, and Ivy Tech Community College, further enhances its value. This presents a stable, long-term investment with minimal landlord responsibilities and significant upside potential. The NOI is $119,438. The property is a single building on a fee simple ownership.