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1700-1724 E US Highway 20
Michigan City, IN 46360

$1,475,000 USD

Freestanding For Sale  •  23,780 SF

Property Details

  • Property Type Freestanding
  • Total Building Size 23,780 SF
  • Lot Size 2.75 AC
  • Building Class C
  • Year Built 1985
  • Cap Rate 8.58 %
  • Tenancy Multiple
0 Transit Score
30 Walk Score

Highlights

79.82% occupied by a diverse mix of service-oriented retail, restaurant, and personal care tenants
Neighborhood-oriented tenancy reduces exposure to e-commerce disruption and supports long-term occupancy
Offered at $62 per square foot, representing an attractive entry basis well below today's replacement co
Immediate upside through lease-up of approximately 4,800 square feet of vacant space
Additional NOI growth is achievable through future renewal of below-market leases that stand at only $8.85 on gross leases
Direct frontage along US Highway 20 (19,000+VPD) with excellent visibility

Property Flyers

Cap Rate: 8.58 %

Major Tenants

Tenant SF Occupied Lease End Date
A & J Rehabilitation Svc Inc
Allstate Insurance Company
Arbor Pointe Leasing, LLC
Art & Frames
CosmoProf
Enterprise Rent-A-Car
Jazzercise
Little Caesars 6/1/2013
Mariner Finance, LLC
State Farm

Public Transportation

Commuter RailDriveWalkDistance
Carroll Ave. (Michigan City) (South Shore Line - Northern Indiana Commuter Transportation District (South Shore Line)) 7 min - 2.8 mi
11Th St. (Michigan City) (South Shore Line - Northern Indiana Commuter Transportation District (South Shore Line)) 8 min - 3.4 mi
AirportDriveWalkDistance
South Bend International 53 min - 32.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Jordan Klink 317-218-5316 Marcus & Millichap
Jordan Klink 317-218-5316 Marcus & Millichap