731 Franklin Street Active Save Request In-Person Tour Request Virtual Tour
Michigan City,IN 46360
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
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
Rooms
Basement Unfinished
Interior
Interior Features Double Vanity,Track Lighting,Walk-In Closet(s),Vaulted Ceiling(s),Laminate Counters,Elevator
Heating Forced Air,Separate Meters,Natural Gas
Cooling Central Air
Flooring Other,Wood,Tile
Fireplace No
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
Garage Asphalt,On Street,Private,Paved
Utilities Available Cable Connected,Water Connected,Sewer Connected,Electricity Available,Natural Gas Connected,Natural Gas Available,Electricity Connected
Roof Type Flat,Rubber,Membrane
Parking Type Asphalt,On Street,Private,Paved
Building
Lot Description City Lot,Rectangular Lot,Level,Corner Lot
Story 2
Foundation Brick/Mortar
Structure Type Brick,Stucco,Other
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional