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1200 S Woodland Ave 2,512 SF 100% Leased Office Building Michigan City, IN 46360 $449,515 CAD ($178.95 CAD/SF) 8.51% Cap Rate
Investment Highlights
- High Traffic Location
- 17 Parking Spaces
- Fully Leased 2 Unit Office
Executive Summary
Two-unit commercial space on a busy corner in Michigan City. Currently medical/office space and fully leased generating $36,000 in gross rent annually. Plenty of parking with 17 spaces. Zoned B2.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$49,808
|
$19.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$49,808
|
$19.16
|
| Taxes |
$5,078
|
$1.95
|
| Operating Expenses |
$6,463
|
$2.49
|
| Total Expenses |
$11,540
|
$4.44
|
| Net Operating Income |
$38,268
|
$14.72
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $49,808 |
| Annual Per SF | $19.16 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $49,808 |
| Annual Per SF | $19.16 |
| Taxes (CAD) | |
|---|---|
| Annual | $5,078 |
| Annual Per SF | $1.95 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $6,463 |
| Annual Per SF | $2.49 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $11,540 |
| Annual Per SF | $4.44 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $38,268 |
| Annual Per SF | $14.72 |
Property Facts
Sale Type
Investment
Property Type
Building Size
2,512 SF
Building Class
B
Year Built
1987
Price
$449,515 CAD
Price Per SF
$178.95 CAD
Cap Rate
8.51%
NOI
$38,244 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,512 SF
Building FAR
0.08
Lot Size
0.76 AC
Zoning
B2 - Business
Parking
17 Spaces (6.77 Spaces per 1,000 SF Leased)
Amenities
- Central Heating
- Air Conditioning
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 46-05-03-101-008.000-009 | Total Assessment | $160,553 CAD |
| Land Assessment | $70,010 CAD | Annual Taxes | $5,078 CAD ($2.02 CAD/SF) |
| Improvements Assessment | $90,544 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
46-05-03-101-008.000-009
Land Assessment
$70,010 CAD
Improvements Assessment
$90,544 CAD
Total Assessment
$160,553 CAD
Annual Taxes
$5,078 CAD ($2.02 CAD/SF)
Tax Year
2025
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1200 S Woodland Ave
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