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Health Mart Pharmacies 710 Franklin St 21,730 SF Vacant Retail Building Michigan City, IN 46360 $1,600,000 ($73.63/SF)
EXECUTIVE SUMMARY
Highly desirable property with options. Currently, this building is also being offered for Lease. The highest and best use would be offices for mid to large offices/ businesses. Average price $12.00 per sq ft annually. This property would be ripe for conversion into apartments/lofts on the second floor, commercial retail on the first floor, and developing of the parking lot.
This area is best suited for Mixed-use. See attached survey. This building is 4 blocks to the train with the new double track, express train to Chicago and all the new residential and commercial development that is currently on the way. Michigan City is set to be the next "it spot" and is only 1 hr. from Chicago and 20 mins to Michigan. 1.2 miles from Lake Michigan. This Lakefront community is poised to be the place to be. The building is located in a TIF and opportunity zone. Facade grants are available. Future restaurant owners or tenants can also obtain a 3-way liquor license. Don't miss this opportunity.
This area is best suited for Mixed-use. See attached survey. This building is 4 blocks to the train with the new double track, express train to Chicago and all the new residential and commercial development that is currently on the way. Michigan City is set to be the next "it spot" and is only 1 hr. from Chicago and 20 mins to Michigan. 1.2 miles from Lake Michigan. This Lakefront community is poised to be the place to be. The building is located in a TIF and opportunity zone. Facade grants are available. Future restaurant owners or tenants can also obtain a 3-way liquor license. Don't miss this opportunity.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
21,730 SF
Building Class
C
Year Built
1914
Price
$1,600,000
Price Per SF
$73.63
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.08
Lot Size
0.46 AC
Opportunity Zone
Yes
Zoning
CBD1 - Local Business District
Parking
28 Spaces (1.29 Spaces per 1,000 SF Leased)
Frontage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
21,730 SF retail space available for lease.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 21,730 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 21,730 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1st Floor
| Size | 21,730 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
21,730 SF retail space available for lease.
TRAFFIC
| COLLECTION STREET | CROSS STREET | TRAFFIC VOLUME | YEAR | Distance |
|---|---|---|---|---|
| East 8th Street | Pine St, E | 1,646 | 2025 | 0.07 mi |
| East 8th Street | - | 1,582 | 2025 | 0.07 mi |
| SIXTH ST | Pine St | 937 | 2025 | 0.12 mi |
| Local | E 6th St, SE | 2,120 | 2024 | 0.12 mi |
| East 6th Street | - | 945 | 2023 | 0.12 mi |
| East 6th Street | E 6th St, SE | 2,111 | 2025 | 0.12 mi |
| West 9th Street | Franklin St, SE | 13,494 | 2025 | 0.14 mi |
| Pine Street | Pine St, W | 4,477 | 2025 | 0.14 mi |
| Local | Pine St, W | 4,469 | 2024 | 0.14 mi |
| Pine Street | - | 3,324 | 2025 | 0.14 mi |
Walk Score®
Very Walkable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | 46-01-29-412-001.000-022, 46-01-29-412-002.000-022 | Improvements Assessment | $442,500 |
| Land Assessment | $120,600 | Total Assessment | $563,100 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$120,600
Improvements Assessment
$442,500
Total Assessment
$563,100
MAP
ADDITIONAL PHOTOS
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Interior Photo
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Building Photo