5223 Franklin StMichigan City, IN 46360

Property Details for 5223 Franklin St

Year built

2019

Lot size

0.82 AC

Property type

Turn key restaurants

APN

46-05-08-428-017.000-009

APU

460508428017000009

Description

This 3,003 square foot vacant restaurant building, built in 2019, is available for $2,200,000. Located at 5223 Franklin Street in Michigan City, Indiana, 46360, this property sits on a 0.82-acre lot and boasts a modern design, including a drive-thru lane accommodating 27 vehicles. The property features all furnishings, fixtures, and equipment (FF&E) from its previous use as a Hardee's, reflecting the brand's latest prototypical design. Zoned GB (General Business), this location benefits from high traffic volume, with an average annual daily traffic count of 35,050 vehicles on the nearby Franklin Street (421) retail corridor. Its convenient location is just 10 minutes south of Indiana Dunes State Park and is easily accessible from major highways and local neighborhoods, surrounded by other retail outlets and service businesses. The property offers ample parking and is situated near key road intersections, providing easy access for customers. The lease type is NNN. This is a turn-key opportunity for a quick-service restaurant or similar commercial venture.

• CAP approach

  CAP return

  Valuation

  6%

  $16,792,030

  6.5%

  $15,500,336

  7%

  $14,393,169

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,666,935

  Geo Method

  $11,666,935

• Alternative Use

  Use

  Valuation

  Residential

  $13,075,113

  Hospitality

  $11,976,733

  Educational

  $9,964,502

  Medical

  $10,307,196

  Retail

  $15,500,336

Location Insight

City

Michigan City

County

Laporte

State

Indiana

Latitude

41.6724

Longitude

-86.8947

CBSA code

33140

CBSA name

MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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