1416 Franklin Street Michigan City, IN ^$ 498,500

1416 Franklin Street

^$ 498,500

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1416 Franklin Street

Michigan City, IN, 46360

^$ 498,500

Studio Baths0.0 Sq 10,418

Monthly Estimate*

^$ 3,482

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Studio

Commercial Property for sale in Michigan City, IN

for $498,500. This 10,418 square foot building was built in 1947 on a lot size of 0.42.

Location, Location, Location!Bring your business & rent out the additional space. Large commercial (B2) investment opportunity for sale. Located three blocks from the Fast South Shore Train station. Building currently consists of two office spaces facing Franklin St (1416 & 1418), one tenant occupied rental, one office on Ripley St, two warehouse entrances with separate addresses (110-112 Ripley St) overhead doors in alley, loading dock, alley access, dry basements, courtyard and billboard rental. Survey completed Nov 2022. Building encompasses almost a half city block! This is a must see!!

Commercial Active

Price

^$ 498,500

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 0

Style

Office

Lot Size

0.42

Year Built

1947

Town/City

Michigan City

County/Region

La Porte

MLS | Web ID

532044

Features

General

Interior Features Elevator

Heating Central Forced Air Natural Gas

Utilities Electricity Available Electricity Connected Natural Gas Available Natural Gas Connected Sewer Connected Water Connected

Security Features Fire Hydrant On Site

Year Built 1947

Electric 100 Amp Service 150 Amp Service 200+ Amp Service 220 Volts

Township Michigan

Property SubType Office

Gross Income 0

County La Porte

Net Operating Income 1200

Insurance Expense 5000

Property Type Commercial Sale

Subdivision Name Land Cos Add/Michigan City

Building Features Business District Location Courtyard Exterior Lighting Mixed Use Multi Tenant Open Dock(s) Private Restrooms Sheet Rock Ceiling(s) Suspended Ceiling(s)

Close Price 0

Status Active

Directions Drive North on Franklin St. Building 3 blocks south of South Shore Track on East side of Franklin. Parking on Franklin & Ripley St

City Michigan City

Lot Size Square Feet 18295

Street Name Franklin

Electric Expense 1200

Trash Expense 0

Standard Status Active

Total Actual Rent 7800

Taxes 6433

Legal Description Legal Description: 42-01-32-229-011 LAND CO LTS 5-8-9 & S1/2 LTS 1 & 4 BLK 105

Exterior

Parking Features Common

Lot Features Corner Lot

Water Source Public

Lot Dimensions 49x244x99

Lot Size Acres 0.42

Frontage Length 49

Interior

Street Suffix Street

* Excluded Features

List By

Lynne A Cody

Listing Agent

Century 21 Circle

Broker

lynne.cody@c21circle.com

Affordability Calculator

$3,482

Per Month

Monthly Principal & Interest: $3,482
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Michigan City, IN

Average List Price ^$855,572

Percent of Sale Price 72%

About Michigan City, IN

42,412 Population

-7% Since 2002

^$42,478 Median Income

40.4 Median Age

25% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

1261196 Elementary School

1261197 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
6/15/2023	$525		Listed Price

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1416 Franklin Street, Michigan City, IN, 46360 is a Commercial Property for sale at $498,500 with 10,418 sqft and a lot size of 0.42. 1416 Franklin Street is a studio with 0.0 baths and was built in 1947. The property's zip code is 46360 which is in Michigan City, IN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the Greater Northwest Indiana Multiple Listing Service.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Greater Northwest Indiana Multiple Listing Service. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be reproduced or redistribute. Its sole purpose is to be used for no other purpose than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 4/29/2024.

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1416 Franklin Street

Commercial Property for sale in Michigan City, IN

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