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    OFF-MARKET
    Turn key restaurants

    5223 Franklin St, Michigan City, IN 46360-7856

    0.82 ac lot Built 2019
    Entity Owned 1-yr Hold Free & Clear
    Property ID
    US31-2981628
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Hardee's Restaurant Take-out & Catering
    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
    North Fork I LLC · 1 yrs held
    North Fork I LLC
    since 2025
    4 recorded transactions
    2025
    $1.8M
    2019
    2018
    2005
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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