2701-2703 Franklin St - Storefront Retail/Office FOR SALE


Michigan City, IN 46360
$599,000 USD
219-805-6754
2701-2703 Franklin St, Michigan City, IN for Sale
$599,000 USD
Storefront Retail/Office - FOR SALE
1/24
null | 9.69% Cap Rate

2701-2703 Franklin St
Michigan City, IN 46360


HIGHLIGHTS

  • Corner Lot
  • Renovated 2020-2022
  • High Traffic Visibility
  • 3 Phase Electric
  • Newer Roof
  • High Efficiency Mechanicals

OVERVIEW

BEAUTIFULLY PRESENTED, VIBRANT LOCATION for this prized gem in your investment portfolio boasting a nearly 9 percent cap rate. A low-maintenance, 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 2022 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. 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!

FOR SALE DETAILS

PRICE

$599,000 USD

PRICE/SF

$144 USD /SF

CAP RATE

9.69%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1924

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

B2

APN/PARCEL ID

46-01-32-436-008.000-022

ASK ABOUT THIS PROPERTY

Giorgios Karayannis@properties | Christie's International Real EstateMore Info
219-805-6754

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Giorgios Karayannis@properties | Christie's International Real EstateMore Info
219-805-6754

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.