3940 Franklin Street, Michigan City, IN 46360
$675,000
Property Type:
Commercial Sale
Square Footage:
5,726
Lot Size (sq. ft.):
66,211
Status:
Accepting Backup Offers
Current Price:
$675,000
List Date:
1/04/2026
Last Modified:
3/18/2026
Overview
Description
Listing Details MLS# 832360
General Property Information
- Number Of Units Total
- Yes
- Living Area
- 5726
- Building Area Source
- Assessor
- Year Built
- 1965
- Parking Total
- 40
- Lot Size Acres
- 1.52
- Lot Size Square Feet
- 66211.2
- Lot Size Source
- Assessor
- Waterfront YN
- No
- Basement YN
- Yes
Property Features
Basement:
Other
Building Features:
Exterior Lighting; Patio; Public Restrooms; Skylight(s)
Business Type:
Restaurant
Construction Materials:
Other
Cooling:
Central Air
Current Use:
Mixed Use; Parking Lot; Retail; Vacant
Electric:
200+ Amp Service
Exterior Features:
Lighting
Heating:
Natural Gas
Interior Features:
Entrance Foyer
Listing Terms:
Cash; Conventional
Lock Box Information:
SentriLock
Owner Pays:
All Utilities
Parking Features:
Paved
Possession:
Close Of Escrow
Possible Use:
Investment; Medical/Dental; Mixed Use; Office; Recreational; Warehouse; Other
Rail Availability:
None
Roof:
Other
Sewer:
Public Sewer
Special Licenses:
Liquor
Special Listing Conditions:
Standard
Tenant Pays:
None
Utilities:
Electricity Connected; Natural Gas Connected; Water Connected
Water Source:
Public
Contract Information
- Auction YN
- No
- Original List Price
- 799900
- Property Sub Type
- Retail
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Vacant
Location Tax and Legal
- Street Number
- 3940
- Street Name
- Franklin
- Street Suffix
- Street
- County
- La Porte
- State
- IN
- Postal Code
- 46360
Remarks and Miscellaneous
- Public Remarks
- This commercial property has 130' of frontage on highly trafficked Franklin Street, just north of Highway 20. Currently set up as a large restaurant, it features a bright entrance foyer and waiting area with seating for 12 and 3 indoor dining rooms plus a 3-season room with ceiling heaters. All dining rooms feature stone gas fireplaces. Three beverage/server stations, a large dish pit room, a 12-seat bar, and substantial kitchen space, along with 2 walk-ins and basement leave potential for many dining options. 3-way liquor license available with acceptable offer. Property also listed for lease; see MLS #826377.
Status Change Information
- Major Change Timestamp
- 2026-03-18T18:38:47Z
- Major Change Type
- Status Change
- Price Change Timestamp
- 2026-03-03T20:40:45Z
- Status Change Timestamp
- 2026-03-18
- Contingent
- Accepting Backup Offers
- Offer Acceptance Date
- 2026-03-16
More Information
Exemption Information
- Exemption YN
- No
Showing Requirements
- Showing Instructions
- Use ShowingTime. Buyer to provide proof of funds or preapproval prior to showing.
Location, Tax, and Legal
- Tax Annual Amount
- 20477.98
- Tax Year
- 2024
- Tax Legal Description
- W SD MID PT S 1/2 SW 1/4 S4 T37 R4. 1.52 A
- Parcel Number
- 460504352001000009
- Township
- Coolspring
- Directions
- Franklin Street to property on east
Basement
- Other
- Yes
Construction Materials
- Other
- Yes
Cooling
- Central Air
- Yes
Electric
- 200+ Amp Service
- Yes
Exterior Features
- Lighting
- Yes
Heating
- Natural Gas
- Yes
Interior Features
- Entrance Foyer
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Lock Box Information
- SentriLock
- Yes
Parking Features
- Paved
- Yes
Possession
- Close Of Escrow
- Yes
Roof
- Other
- Yes
Sewer
- Public Sewer
- Yes
Special Listing Conditions
- Standard
- Yes
Utilities
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Water Connected
- Yes
Water Source
- Public
- Yes
Owner Pays
- All Utilities
- Yes
Tenant Pays
- None
- Yes
Current Use
- Mixed Use
- Yes
- Parking Lot
- Yes
- Retail
- Yes
- Vacant
- Yes
Possible Use
- Investment
- Yes
- Medical/Dental
- Yes
- Mixed Use
- Yes
- Office
- Yes
- Recreational
- Yes
- Warehouse
- Yes
- Other
- Yes
Building Features
- Exterior Lighting
- Yes
- Patio
- Yes
- Public Restrooms
- Yes
- Skylight(s)
- Yes
Business Type
- Restaurant
- Yes
Rail Availability
- None
- Yes
Special Licenses
- Liquor
- Yes
Listing Office:
@properties/Christie's Intl RE
Last Updated: March - 18 - 2026
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