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Faits saillants de l'investissement

  • 79.82% occupied by a diverse mix of service-oriented retail, restaurant, and personal care tenants
  • Offered at $62 per square foot, representing an attractive entry basis well below today's replacement co
  • Additional NOI growth is achievable through future renewal of below-market leases that stand at only $8.85 on gross leases
  • Neighborhood-oriented tenancy reduces exposure to e-commerce disruption and supports long-term occupancy
  • Immediate upside through lease-up of approximately 4,800 square feet of vacant space
  • Direct frontage along US Highway 20 (19,000+VPD) with excellent visibility

Résumé de l'annonce

The Klink Group of Marcus & Millichap is pleased to exclusively offer for sale a 23,780-square-foot neighborhood retail center located at 1700-1724 US Highway 20 in Michigan City, Indiana. Offered at $1,475,000, an attractive $62 per square foot, the property presents an opportunity to acquire a well-located neighborhood retail asset with a strong 8.58% going-in capitalization rate and significant near-term value creation through lease-up and rent growth.
The center is currently 79.82% occupied by a complementary mix of established local and regional tenants providing daily-needs goods and services that are largely insulated from e-commerce competition. The tenant roster includes Memo's House of Pancakes, Cosmo Prof, Ladybug Cleaners, Spa Nails, and Kuttin Up, creating consistent customer traffic throughout the day while generating stable recurring cash flow.
Strategically positioned along US Highway 20, which features over 19,000 vehicles per day, one of Michigan City's primary commercial corridors, the property benefits from outstanding visibility and excellent regional accessibility. The location provides convenient connectivity to Interstate 94, and the broader Northwest Indiana trade area, making it an established destination for both local residents and commuter traffic.
The property offers a compelling value-add opportunity. Current average in-place gross rents of $8.85 per square foot remain below market, while approximately 4,800 square feet of vacant space (three 1,600-square-foot suites) provides an immediate opportunity to increase occupancy and cash flow. By leasing the remaining vacancies and capturing market rental rates upon tenant renewals, an investor can substantially increase property cash-flow and generate increasingly strong returns.

Faits sur la propriété

Type de vente
Investissement
Type de propriété
Commerce de détail
Sous-type de propriété
Immeuble de commerce
Taille du bâtiment
23 780 pi²
Classe d’immeuble
C
Année de construction
1985
Prix
2 056 268 $ CAD
Prix par pi²
86,47 $ CAD
Taux de capitalisation
8,58%
Revenu net d’exploitation
176 428 $ CAD
Pourcentage loué
100%
Location
Multiples
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,20
Taille du lot
2,75 AC
Façade
397’ sur East Court

Principaux locataires

  • Locataire
  • Secteur
  • pi² Occupé
  • Loyer/pi²
  • Type de bail
  • Fin du bail
  • A & J Rehabilitation Svc Inc
  • Soins de santé et assistance sociale
  • -
  • -
  • -
  • -
  • Finance et assurances
  • -
  • -
  • -
  • -

Allstate began in 1931 as part of Sears, Roebuck and Co. and grew into a major U.S. insurance business. The company focuses on property and casualty insurance and offers coverage for autos, homes, renters, motorcycles, and related personal protection needs. The company also provides life insurance, business insurance, retirement and investment planning, and support services such as claims help, roadside assistance, and identity restoration. Allstate serves customers through branded agents, independent agents, and direct-to-consumer channels in the United States and Canada.

  • Arbor Pointe Leasing, LLC
  • Services professionnels, scientifiques et techniques
  • -
  • -
  • -
  • -
  • Art & Frames
  • Détaillant
  • -
  • -
  • -
  • -

Art & Frames is a Michigan City business centered on custom picture framing, framed art, and related display services. The firm operates as a picture-frame shop and specialty retailer in miscellaneous retail categories. The company has maintained a long-running presence in the area, and the business specializes in framing, matting, and a broader mix of art and home decor merchandise.

  • Détaillant
  • -
  • -
  • -
  • -

CosmoProf is a wholesale distributor of salon brands for licensed beauty professionals and students, with a business built around professional products, education, and service tools. The brand operates as part of Beauty Systems Group, which connects stores, sales consultants, and online channels to supply salon-use and resale products across North America. CosmoProf's assortment spans hair color, hair care, tools and appliances, salon supplies, skin and body care, nails, and barber products, and the company also supports customers with business-building resources and professional education. The company has been serving the beauty industry for more than 16 years and continues to focus on professional distribution rather than general consumer retail.

  • Enterprise Rent-A-Car
  • Services de location et de bail
  • -
  • -
  • -
  • -
  • Arts, divertissement et loisirs
  • -
  • -
  • -
  • -

Jazzercise began in 1969 when Judi Sheppard Missett created a jazz dance workout class in Illinois. After moving to California in 1971, the concept expanded rapidly through franchising. The company now operates thousands of franchise locations internationally. Jazzercise combines dance with strength training and cardio in various class formats. The brand has evolved over five decades while maintaining its core dance-fitness approach. Jazzercise supports a global network of franchisees through training programs and choreography updates.

  • Little Caesars
  • Hébergement et services alimentaires
  • -
  • -
  • Loyer hypernet
  • Juin 2013
  • Finance et assurances
  • -
  • -
  • -
  • -

Mariner Finance traces a history to 1927 and operates as a consumer lender built around responsible access to credit and personalized service. The company offers personal loans, auto loans, debt consolidation loans, home improvement loans, vacation loans, and wedding loans, with options that include secured and unsecured installment lending. Mariner Finance also supports borrowers through online applications, personalized loan offers, and branch-based service for people seeking fixed-rate repayment terms. The company serves communities across the United States through a network of branches and affiliated lending operations while focusing on individual borrowing needs rather than commercial lending.

  • Finance et assurances
  • -
  • -
  • -
  • -

State Farm began in 1922 as a mutual auto insurer founded by George J. Mecherle, who wanted pricing based on drivers' actual risk rather than broad categories. Over time, the company expanded beyond auto coverage into homeowners, renters, farm and ranch, life, health, disability, liability, and business insurance. State Farm also offers financial services, including banking through an alliance with U.S. Bank and investment products such as mutual funds and advisory services. The business now serves a broad customer base through a large agent network and manages insurance and financial service products across a wide range of policies and accounts.

Locataire Secteur pi² Occupé Loyer/pi² Type de bail Fin du bail
A & J Rehabilitation Svc Inc Soins de santé et assistance sociale - - - -
Finance et assurances - - - -
Arbor Pointe Leasing, LLC Services professionnels, scientifiques et techniques - - - -
Art & Frames Détaillant - - - -
Détaillant - - - -
Enterprise Rent-A-Car Services de location et de bail - - - -
Arts, divertissement et loisirs - - - -
Little Caesars Hébergement et services alimentaires - - Loyer hypernet Juin 2013
Finance et assurances - - - -
Finance et assurances - - - -
Relativement accessible à pied
30/100
Exceptionnellement adapté aux voitures
100/100
Relativement accessible en vélo
20/100

Impôts fonciers

Impôts fonciers

Numéros de lot
Plusieurs
  • 46-05-03-254-004.000-071
  • 46-05-03-252-032.000-071
Évaluation du terrain
299 912 $ CAD
Évaluation des bâtiments
1 424 304 $ CAD
Évaluation totale
1 724 216 $ CAD
  • ID d’inscription: 41563477

  • Date de mise sur le marché: 2026-08-05

  • Dernière mise à jour:

  • Adresse: 1700-1724 E US Highway 20, Michigan City, IN 46360

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