3015 Michigan BlvdMichigan City, IN 46360

Property Details for 3015 Michigan Blvd

Year built

1970

Construction

WOOD

Lot size

0.71 AC

Property size (Sq ft)

2,304 SF

Property type

Retail space

APN

46-01-35-153-002.000-026

APU

460135153002000026

Description

Exceptional opportunity to acquire a thriving Class A bar and restaurant located at 3015 E Michigan Blvd, Trail Creek, IN 46360. This 2,304 square foot, single-story building sits on a 0.71-acre lot and boasts a full liquor license. Completely renovated in 2019, the property features a desirable location on busy Michigan Boulevard, placing it near numerous businesses, the municipal golf course, Long Beach, and within minutes of SR-20 and I-94, ensuring high visibility and convenient access. The asking price is $550,000, translating to $238.72 per square foot. This owner-user investment presents a unique chance to own a well-established business in a vibrant community. The property is zoned for commercial retail use and offers significant potential for continued success. Michigan City's diverse economy, including tourism, manufacturing, and retail, provides a strong customer base. The area is known for its attractions, such as the Old Lighthouse Museum and Washington Park, which includes a beach and recreational facilities. This turnkey operation is ready for immediate occupancy and presents a compelling investment opportunity for a discerning buyer. The property's prime location and established clientele make it an ideal acquisition for an experienced restaurateur or investor seeking a profitable venture in a thriving market. Don't miss this chance to own a piece of Michigan City's vibrant culinary scene.

• CAP approach

  CAP return

  Valuation

  6%

  $1,088,447

  6.5%

  $1,004,720

  7%

  $932,954

• Comparable approach

  Method

  Valuation

  Relative Method

  $756,242

  Geo Method

  $756,242

• Alternative Use

  Use

  Valuation

  Residential

  $847,519

  Hospitality

  $776,323

  Educational

  $645,891

  Medical

  $668,105

  Retail

  $1,004,720

Location Insight

City

Trail Creek

County

Laporte

State

Indiana

Latitude

41.7041

Longitude

-86.8529

CBSA code

33140

CBSA name

MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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