521-525 Franklin Street Michigan City, IN ^$ 1,650,000

521-525 Franklin Street

^$ 1,650,000

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521-525 Franklin Street

Michigan City, IN, 46360

^$ 1,650,000

Studio Baths0.0 Sq 21,057

Monthly Estimate*

^$ 11,526

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Studio

Commercial Property for sale in Michigan City, IN

for $1,650,000. This 21,057 square foot building was built in 1890 on a lot size of 0.277.

Excellent business opportunity in Downtown Arts District. Three storefronts boasting over 21,000 Sq Ft on Street level and above. There are 7 nice apartments above the storefronts. One large storefront potentially available and one apartment will become available upon sale. What a great opportunity to live and have your own business while collecting rents in the buildings you own. Arrange to see this great property and set in motion moving toward your dreams.

Commercial Active

Price

^$ 1,650,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 11,988

Style

Mixed Use

Lot Size

0.277

Year Built

1890

Town/City

Michigan City

County/Region

La Porte

MLS | Web ID

801952

Features

General

Interior Features Bar Other

Sewer Public Sewer

Heating Central

Utilities Electricity Connected Natural Gas Connected

Exterior Features Lighting Private Entrance

Security Features Carbon Monoxide Detector(s) Smoke Detector(s)

Year Built 1890

Electric 200+ Amp Service

View Downtown

Township Michigan

Property SubType Mixed Use

Tax Year 2023

Community Features Curbs Restaurant Sidewalks Street Lights

County La Porte

Insurance Expense 22077

Property Type Commercial Sale

Building Features Acoustical Ceiling(s) Exterior Lighting High Speed Internet Avail Mixed Use Multi Tenant Private Restrooms

Status Active

Directions FRANKLIN STREET NORTH TOWARDS LAKE MICHIGAN WEST SIDE BETWEEN 5TH AND 6TH STREET

City Michigan City

Zoning Description Mixed Use

Lot Size Square Feet 12066.12

Street Name Franklin

Tax Annual Amount 11988

Electric Expense 3407

Standard Status Active

Legal Description 42-01-29-404-021 E O S 33 1/2 FT S SD LT 6 BLK 23. TIF ASSMT #51 & 42-01-29-404-022 EOS N SD LT 7 BLK 23 (2-11/8/96) TIF ASSMT #51

Exterior

Fencing None

Parking Features On Street Outside

Lot Features City Lot

Water Source Public

Total Parking 0

Lot Dimensions 69 x 175

Lot Size Acres 0.277

Frontage Length 70

Lot Size Source Assessor

Interior

Street Suffix Street

* Excluded Features

List By

Mike Liberatore

Listing Agent

Mtm Realty Group

Broker

mliberatore18@gmail.com

Affordability Calculator

$12,525

Per Month

Monthly Principal & Interest: $11,526
Monthly Property Taxes: $999
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

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 ^$959,484

Percent of Sale Price 42%

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
4/11/2024	$1,650,000		Listed Price

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521-525 Franklin Street, Michigan City, IN, 46360 is a Commercial Property for sale at $1,650,000 with 21,057 sqft and a lot size of 0.277. 521-525 Franklin Street is a studio with 0.0 baths and was built in 1890. 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 5/10/2024.

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521-525 Franklin Street

Commercial Property for sale in Michigan City, IN

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