$ 625,000
2701-03 Franklin ST Michigan City, IN 46360
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$ 625,000
Est. payment | /mo
4,157 SqFt
$ 625,000
Est. payment | /mo
4,157 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 4,157 sqft
Price per Sqft $150
MLS Listing ID 801112
Year Built 1925
Annual Tax Amount $3,628
Tax Year 2023
Lot Size 6,860 Sqft
Acres 0.1575
Lot Dimensions 52x132
Property Description
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!
Location
State IN
County La Porte
Zoning Commercial
Interior
Interior Features High Ceilings, Storage, Recessed Lighting
Heating Natural Gas
Fireplace N
Appliance Water Heater
Exterior
Exterior Feature Storage, Uncovered Courtyard
View Y/N true
View true
Building
Lot Description Corner Lot
Others
Tax ID 460132436008000022
Acceptable Financing NRA20240321150916636336000000
Listing Terms NRA20240321150916636336000000
Listed by @properties/Christie's Intl RE