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731 Franklin Street, Michigan City, IN 46360
$1,195,000
731 Franklin Street, Michigan City, IN 46360View this property at 731 Franklin Street, Michigan City, IN 46360
731 Franklin StreetMichigan CityIN46360
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Property Description
Rare opportunity to own a fully occupied mixed use building in the Uptown Arts District of Michigan City. Vibrant corner location with high traffic count with 2 (potentially 3) ground level commercial spaces and 3 beautiful loft apartments above. Plenty on street public parking available and just steps from the seasonal Farmer's Market. Each residential loft is 2000 square feet and fully renovated. Two lofts have a rear deck/entry and designated parking (1 space per loft). Corner loft is accessed from side entry on 8th St. One loft unit is used as a STR. Huge potential in converting the remaining 2 loft apartments to short term rentals. Most units are currently occupied by long term tenants who already have 4+ years of occupancy and leases. Home to beloved and well established local businesses Hoity Toity and Mucho Mas. Building currently grosses over $117,000 annually.
Full Property Details
Full Property Details for 731 Franklin St
General
- Price: $1,195,000
- Status: Active
- Type: Commercial Multi-Family
- MLS ID: 537424
- Updated: 2/27/2024
- Added to Site: 245 day(s) ago
Interior
- Interior Features: Elevator
Parking
- Parking Features: Assigned, Paved
Location
- County: La Porte
- Township: Michigan
- Subdivision: Elstons
- Driving Directions: Franklin St. North to property at the corner of Franklin & 8th streets.
Heating & Cooling
- Heating Type: Forced Air, Natural Gas
Structural Information
- Square Feet: 12,000
- Year Built: 1910
Lot Features
- Lot Size (Acres): 0.1695
- Lot Size (Sq. Ft.): 7,385
- Lot Dimensions: 68 x 168
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.50%
- Legal Description: Legal Description: 42-01-29-411-017 E O S S1/2 N1/2 & S1/2 EX SO 20 FT OF W 66.50 FT LT 8 BLK 33
- Property ID: 460129411017000022
Listed by @properties/Christie's Intl RE
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Schools
Schools serving 731 Franklin St
School District:Michigan City Area Schools
Rating | Name | Grades | Distance |
---|---|---|---|
1660 County Line Rd, Michigan City, IN 46360 | PK-5 | 3.3 mi | |
319 Barker Rd, Michigan City, IN 46360 | 6-8 | 2.1 mi | |
8466 W Pahs Rd, Michigan City, IN 46360 | 9-12 | 3.1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 731 Franklin St
Date
Details
Price
Change
Source
8/28/2023
Listed
$1,195,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 731 Franklin St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$8,047
1%
$295,900
-2%
2022
$7,972
3%
$303,200
7%
2020
$7,732
—
$284,100
—
2019
$7,732
1%
$284,100
—
2018
$7,642
-27%
$284,100
—
2017
$10,497
31%
$284,100
-34%
2016
$8,016
—
$427,800
-4%
2015
$8,016
—
$446,400
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 731 Franklin St
731 Franklin Street, Michigan City, IN 46360 (MLS# 537424) is a Commercial Multi-Family property. 731 Franklin Street is currently listed for $1,195,000 and was received on August 28, 2023. Want to learn more about 731 Franklin Street? Do you have questions about finding other Commercial Multi-Family real estate for sale in Michigan City? You can browse all Michigan City real estate or contact a Coldwell Banker agent to request more information.