IN > Michigan City > Elstons
Michigan City, IN 46360,731 Franklin ST
Michigan City, IN 46360,731 Franklin ST
Michigan City, IN 46360,731 Franklin ST
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$1,075,000
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12,000 SqFt
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731 Franklin ST Michigan City, IN 46360

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Mike (Broker/Owner) Tezak

Mike (Broker/Owner) Tezak

+1(219) 405-3647

UPDATED:

09/26/2024 11:01 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 12,000 sqft

Price per Sqft $89

Subdivision Elstons

MLS Listing ID 810711

Year Built 1910

Annual Tax Amount $7,777

Tax Year 2023

Lot Size 7,383 Sqft

Acres 0.1695

Lot Dimensions 68 x 168

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.

Location

State IN

County La Porte

Zoning Commercial

Interior

Interior Features Double Vanity, Track Lighting, Walk-In Closet(s), Vaulted Ceiling(s), Laminate Counters, Elevator

Heating Forced Air, Separate Meters, Natural Gas

Fireplace N

Appliance Dishwasher, Stainless Steel Appliance(s), Washer, Refrigerator, Microwave, Gas Range, Gas Water Heater, Dryer, Disposal

Exterior

Exterior Feature Private Entrance, Smart Lock(s), Rain Gutters

View Y/N true

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Building

Lot Description City Lot, Rectangular Lot, Level, Corner Lot

Others

Tax ID 46-01-29-411-017.000-022

Acceptable Financing NRA20240926194942306007000000

Listing Terms NRA20240926194942306007000000

Listed by @properties/Christie's Intl RE

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Mike (Broker/Owner) Tezak

Broker | License ID: RB14033486

+1(219) 405-3647

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731 Franklin ST