Property profile

5223 Franklin St Michigan City, IN 46360

FOR SALE
Turn key restaurants
Property ID
US31-2981628
0.82 ac lot Built 2019
Entity Owned 1-yr Hold Free & Clear
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For Sale
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5223 Franklin St, Michigan City, IN 46360
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Property summary

AI-generated overview

This 3,003 square foot vacant restaurant building, built in 2019, is available for $2,200,000. Located at 5223 Franklin Street in Michigan City, Indiana, 46360, this property sits on a 0.82-acre lot and boasts a modern design, including a drive-thru lane accommodating 27 vehicles. The property features all furnishings, fixtures, and equipment (FF&E) from its previous use as a Hardee's, reflecting the brand's latest prototypical design. Zoned GB (General Business), this location benefits from high traffic volume, with an average annual daily traffic count of 35,050 vehicles on the nearby Franklin Street (421) retail corridor. Its convenient location is just 10 minutes south of Indiana Dunes State Park and is easily accessible from major highways and local neighborhoods, surrounded by other retail outlets and service businesses. The property offers ample parking and is situated near key road intersections, providing easy access for customers. The lease type is NNN. This is a turn-key opportunity for a quick-service restaurant or similar commercial venture.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 2019
Lot 0.82 ac (35,545 SF)
APN 46-05-08-428-017.000-009
UPID US31-2981628

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant Take-out & Catering

Location

5223 Franklin St Michigan City, IN 46360
Michigan City metro Census 41400 MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$390k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$390k

Owner & transaction history

since 2025
4 recorded transactions
2025
$1.8M
2019
Price N/A
2018
Price N/A
2005
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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