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
October 14, 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
183
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:
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