1115 Franklin ST, Michigan City, IN 46360
1115 Franklin ST, Michigan City, IN 46360
1115 Franklin ST, Michigan City, IN 46360
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$510,000
Est. payment /mo
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5,737 SqFt
Price Dropped by $19K

1115 Franklin ST Michigan City, IN 46360

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Maurice Cornett

Maurice Cornett

+1(219) 781-1169

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,737 sqft

Price per Sqft $88

Subdivision Land Companys Add

MLS Listing ID 835608

HOA Y/N No

Year Built 1900

Annual Tax Amount $4,618

Tax Year 2025

Lot Size 2,613 Sqft

Acres 0.06

Property Sub-Type Multi Family

Property Description

Prime investment opportunity in the heart of downtown Michigan City! Looking for a multi-unit property that also includes a retail space? This fully leased, mixed-use property offers immediate cash flow and long-term upside in a highly desirable location. The commercial building boasts a new roof (2024), furnace, 200 amp service and many other updates and improvements! The street-level retail space enjoys excellent visibility and steady foot traffic, making it an ideal anchor for the property. Two residential apartments above the retail space provide consistent rental income---one of which has been completely renovated with modern finishes, offering strong tenant appeal and reduced maintenance concerns. Adding further value is a separate carriage house, enhancing the overall versatility of the property. All units are currently rented with active leases in place, making this a true turnkey investment. Situated in a vibrant corridor of Michigan City, this property is conveniently located one block from the south shore train station. Whether you're looking to expand your portfolio or secure a stable, income-producing asset in a prime location, this property delivers on all fronts!

Location

State IN

County La Porte

Rooms

Basement Full

Interior

Heating Forced Air, Natural Gas

Fireplace N

Appliance Gas Range, Refrigerator

Exterior

Exterior Feature None

Parking Features On Street

View Y/N true

View City

Building

Lot Description Corner Lot

Sewer Public Sewer

Water Public

Others

Tax ID 460129466015000022

Acceptable Financing NRA20260314231147139770000000

Listing Terms NRA20260314231147139770000000

Listed by Blackrock Real Estate Services • Kimberly Fowler

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Maurice Cornett

Maurice Cornett

Broker Associate License ID: 19001105, 3607323, 475.201736

+1(219) 781-1169

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1115 Franklin ST