Active

2701-03 Franklin Street

Michigan City IN, 46360

$625,000


$150.35 per sqft

Active

4,157 sqft

Commercial

Built in 1925

BEAUTIFULLY PRESENTED, VIBRANT LOCATION for this prized gem in your investment portfolio. A turnkey, multi-unit commercial property is in the heart of the booming Michigan City's midtown area. This classic building has been brought into modern times completely renovated in 2020 and 2021 from floor to ceiling. Perfectly positioned on a corner of the bustling Franklin Street, poised to capture maximum visibility and foot traffic, ensuring sustained profitability for years to come. You will find intelligent updates throughout; 2-stage variable speed high-efficiency furnaces, 3-phase electric, all LED lighting, closed-cell insulation, Nova basement system, and many more advanced features to finish this impressive property that will leave you worry-free for years to come. Long-term tenants have already established a solid foundation, providing a steady income stream from day one and boasting an 8.86% cap rate. Feel secure with an optometry practice established in 1924 and an innovative salon as successful, long-term tenants providing reliability, securing this property's status as an exceptionally high return. Join the ranks of visionary investors who recognize this prime location and claim your stake in the future of Michigan City!

801112

MLS ID

March 21, 2024

Listed

November 24, 2024

Updated

Map

2701-03 Franklin Street
Michigan City IN, 46360

Interior Features

Interior Features

High Ceilings, Storage, Recessed Lighting


Appliances

Water Heater


Laundry Description

None


Floor Description

Concrete


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Separate Meters, Multi Units


Heating

Yes


Heating Description

Natural Gas

Exterior/Building Features

Lot Size

0.16 Acres


Exterior Features

Storage, Uncovered Courtyard


Lot Features

Corner Lot


Roof

Membrane


Sewer

Public Sewer

Other Property Details

Taxes

$3,628


Tax Frequency

Annually


Days on Market

248


Garage

No


Parking

Additional Parking, On Street, Unpaved, Parking Pad, Open, Concrete


Parking Total

25


View

No


County

La Porte


Municipality

Michigan


Water Source

Public


Pool

No


Zoning

Commercial

Listing History

Date

Event

Price

9/4/2024

Price change

$625,000

-3%

8/30/2024

Price change

$640,000

-2%

6/22/2024

Price change

$650,000

-4%

Courtesy of @properties/Christie's Intl RE, Giorgios Karayannis,
Listing Contact:  

The data relating to real estate for sale on this web site comes in part from the Northwest Indiana REALTOR Association. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Jordan Gallas shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

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