Michigan City Marketplace 5172-5184 Franklin St

5172-5184 Franklin St , Michigan City, Indiana, 46360 | 18,500 sq.f | $ 4,313,975

Card image
Card image
Card image

About This Restaurant

Investment Highlights

100% Occupied, Fully Stabilized Investment Excellent Visibility and Accessibility Expansive Trade Area Demographics | 190,323 Population Traffic Generating Shadow Anchors Strong Performing Regional Retail Corridor

Executive Summary

CBRE?s National Retail Partners - Midwest is pleased to present to qualified individuals, the opportunity to acquire 100% fee interest in Michigan City Marketplace, a fully occupied 18,500-square-foot shopping center shadow anchored by Meijer and Lowe?s Home Improvement. The Property is highly visible and strategically positioned along Franklin Street with 22,554 vehicles passing per day. Michigan City Marketplace features a diverse line up of tenants, including American Mattress, ATI Physical Therapy, Gelsosomo?s Pizzeria AT&T Mobility, Insure One, and MC Nutrition. The Property is located along the Franklin Street retail corridor in Michigan City, the dominant retail hub for northwest Indiana. The submarket is anchored by many national retailers including Menards, Kohl?s, AMC Theaters, ROSS, Walmart Superstore and many more. Michigan City Marketplace is located in Michigan City, Indiana, a thriving northwest suburb of LaPorte County and located three miles south of the Lighthouse Place Premium Outlets and Blue Chip Casino Hotel and Spa in the LaPorte Submarket. Additionally, the Gary/Chicago International Airport is conveniently situated 31 miles to the west and downtown Chicago is just an hour?s drive, located 66 miles northwest of Michigan City Marketplace.

Property Details

  • Sale Type    Investment
  • Property Type    Retail
  • Property Subtype    Freestanding Freestanding General Retail Fast Food General Retail Restaurant General Retail Storefront Freestanding
  • Building Size    18,500
  • Building Class    B
  • Year Built    1996
  • Price    4,313,975
  • Price Per SF    233
  • Cap Rate    8
  • NOI    345,118
  • Percent Leased    100
  • Tenancy    Multiple
  • Building Height    1 Story
  • Building FAR    0.25
  • Land Acres    1.72 AC

Amenities

  • Pylon Sign

Nearby Amenities & Transportation

Retail Olive Garden Italian Rstrnt
Retail Chili's
Retail IHOP
Retail Panda Express
Retail Wingstop
Retail Five Guys
Retail Chase Bank
Retail Steak ?n Shake
Retail Denny's
Retail Red Lobster

Property Taxes

Parcel Number 46-05-09-151-012.000-009 Improvements Assessment $566,000
Land Assessment $850,100 Total Assessment $1,416,100
Date Created: 2024-07-16 04:13:40 Last Updated: 2024-07-16 04:13:40
Address: 5172-5184 Franklin St , Michigan City, Indiana, 46360