2701-03 Franklin Street Michigan City, IN 46360
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!
- Property TypeCommercial
- NeighborhoodN/A
- CountyLa Porte
- Taxes$3,628
- HOA/Condo/Coop Fees$0
- Days on Site37 Days
- MLS StatusActive
- MLS ID Number801112
- Home Size Source Assessor
- Year Built1925
- Lot Size0.1575 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Building Features Acoustical Ceiling(s)Suspended Ceiling(s)Exterior Lighting
- Parking Additional ParkingOn StreetUnpavedParking PadOpenConcrete
- Parking Spaces 25
- Sewer Public Sewer
- Electric 200+ Amp Service
- Basement BlockUnfinishedOtherSump PumpStorage SpacePartialConcrete
- Acreage 0.1575
- Water Public
- Zoning Commercial
- Security Fire AlarmSecurity SystemVaries By UnitSmoke Detector(s)
- Property Sub Type Retail
- Utilities Cable AvailableWater ConnectedSewer ConnectedElectricity ConnectedNatural Gas Connected
- Listing Conditions Standard
Interior Features
- Heating Natural Gas
- Appliances Water Heater
- Interior High CeilingsStorageRecessed Lighting
- Laundry Features None
Exterior Features
- Fencing None
- Exterior StorageUncovered Courtyard
- Lot Corner Lot
Community Features
- Township Michigan
- Community Features Sidewalks
- Security Features Fire AlarmSecurity SystemVaries By UnitSmoke Detector(s)
- Building Features Acoustical Ceiling(s)Suspended Ceiling(s)Exterior Lighting