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Property profile & analytics
FOR SALE
Retail space
521 Franklin St Michigan City, IN 46360
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1942922
For Sale
1 / 98
$1,590,000
521 Franklin St, Michigan City, IN 46360
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1880
Construction
WOOD
Total area
12,075 SF
Lot
0.14 ac (5,950 SF)
APN
46-01-29-404-021.000-022
UPID
US31-1942922
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
-
Maxine's Restaurant Restaurant
-
Vita del Lago Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Hubringer LLC · 4 yrs held
Hubringer LLC
since 2022
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,356
Tax year 2023
Assessed value
$193,700
Assessed 2023
Previous assessed
$193,700
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$35,000
Assessed improvement
$158,700
Land market value
$35,000
Improvement market value
$158,700
Total market value
$193,700
Applied tax rate
42.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1880
Construction
WOOD
Heating
NONE
Stories
3
Units
2
Total area
12,075 SF
Lot
0.14 ac (5,950 SF)
APN
46-01-29-404-021.000-022
UPID
US31-1942922
Jurisdiction
LA PORTE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1880
Construction
WOOD
Heating
NONE
Stories
3
Units
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
Hubringer LLC
Entity
Free & Clear · 4 yrs held
Mailing address
MICHIGAN CITY, IN 46360
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2022
—
Hubringer LLC
Brandy Hulu
Quit Claim Deed
related
—
Oct 28, 2008
—
Karel P Hula
Karel P Hula
Intrafamily Transfer
related
—
Nov 21, 2006
—
Karel P Hula
Meggan Horn
Quit Claim Deed
related
—
Oct 5, 2005
—
Karel P Hula
Karel P Hula
Intrafamily Transfer
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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