622-624 Franklin Street, Michigan City, IN 46360
$575,000
Property Type:
Commercial Sale
Square Footage:
9,615
Lot Size (sq. ft.):
7,922
Status:
Closed
Current Price:
$575,000
List Date:
12/29/2015
Last Modified:
2/24/2024
Overview
Description
Listing Details MLS# 385703
General Property Information
- Living Area
- 9615
- Building Area Source
- Assessor
- Year Built
- 1922
- Lot Size Acres
- 0.1819
- Lot Size Square Feet
- 7922
- Lot Size Dimensions
- 41 x 165
- Waterfront YN
- No
- Stories
- 0
Property Features
Building Features:
Business District Location; Exterior Lighting; Multi Tenant; Public Restrooms; Sheet Rock Ceiling(s); Other
Construction Materials:
Brick
Cooling:
Central Air
Current Use:
Mixed Use
Electric:
100 Amp Service; 150 Amp Service; 200+ Amp Service
Flooring:
Wood; Other
Foundation Details:
Concrete Perimeter
Heating:
Forced Air
Interior Features:
Elevator
Listing Terms:
Cash; Conventional
Parking Features:
Assigned
Possible Use:
Mixed Use
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Rubber
Security Features:
Smoke Detector(s)
Tenant Pays:
Gas
Utilities:
Cable Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected
Showing Requirements:
Appointment Only
Contract Information
- Auction YN
- No
- Original List Price
- 625000
- Property Sub Type
- Retail
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 622-624
- Street Name
- Franklin
- Street Suffix
- Street
- County
- La Porte
- State
- IN
- Postal Code
- 46360
- Subdivision Name
- Elstons
Remarks and Miscellaneous
- Public Remarks
- A completely remodeled vintage building in the heart of the up and coming arts district. Four residential soft loft units and 4000 sq feet of commercial space that acts as one unit now but could be divided into two spaces in the future. Residential units all have washer and dryer and central air and hardwood floors Nothing here to do but collect the rent. Arts Space project bringing 50 new residents on line for 2016 right across the street. 100% occupied building grosses $57,780.00 with potential gross income at $67,380.00. In the center of downtown Renaissance.
Status Change Information
- Major Change Timestamp
- 2016-03-01T13:26:13Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2016-03-01
- Offer Acceptance Date
- 2016-03-01
- Close Date
- 2016-03-01
- Close Price
- 575000
- Buyer Financing
- Conventional
More Information
Exemption Information
- Exemption YN
- Y
Frontage Type
- Frontage Length
- 41
Income and Expenses
- Expense Year
- 2014
- Gross Income
- 75
- Insurance Expense
- 4444
- Maintenance Expense
- 3562
- Net Operating Income
- 39172
- New Taxes Expense
- 5296
- Supplies Expense
- 126
- Total Actual Rent
- 54291
- Electric Expense
- 0
- Gross Scheduled Income
- 0
- Manager Expense
- 0
- Other Expense
- 0
- Professional Management Expense
- 0
- Sewer Expense
- 0
- Trash Expense
- 0
- Water Expense
- 0
Showing Requirements
- Showing Instructions
- Call LA to show
- Appointment Only
- Yes
Historical Information
- Public Historical Remarks
- Utilities: On, Frontage Access: Public Road, Roof Structure: Pitched
Location, Tax, and Legal
- Postal Code +4
- 3587
- Tax Legal Description
- Legal Description: E O S S 1/2 LT 6 BLK 29.
- Parcel Number
- 460129408003000022
- Township
- Michigan
- Directions
- Franklin to 622 Franklin (Urban Soles).
Construction Materials
- Brick
- Yes
Cooling
- Central Air
- Yes
Electric
- 100 Amp Service
- Yes
- 150 Amp Service
- Yes
- 200+ Amp Service
- Yes
Flooring
- Wood
- Yes
- Other
- Yes
Foundation Details
- Concrete Perimeter
- Yes
Heating
- Forced Air
- Yes
Interior Features
- Elevator
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Parking Features
- Assigned
- Yes
Road Frontage Type
- City Street
- Yes
Roof
- Rubber
- Yes
Security Features
- Smoke Detector(s)
- Yes
Utilities
- Cable Available
- Yes
- Electricity Connected
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Phone Available
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Auction
- Minimum Opening Bid
- 0
- Buyer Premium Amount
- 0
Tenant Pays
- Gas
- Yes
Current Use
- Mixed Use
- Yes
Possible Use
- Mixed Use
- Yes
Building Features
- Business District Location
- Yes
- Exterior Lighting
- Yes
- Multi Tenant
- Yes
- Public Restrooms
- Yes
- Sheet Rock Ceiling(s)
- Yes
- Other
- Yes
Rail Availability
- None
- Yes
Listing Office:
Coldwell Banker Real Estate Gr
Last Updated: February - 24 - 2024
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2024 Triangle MLS, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.