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1200 S Woodland Ave 2,512 SF 100% Leased Office Building Michigan City, IN 46360 $324,900 ($129.34/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 | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$36,000
|
$13.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$36,000
|
$13.85
|
| Taxes |
$3,670
|
$1.41
|
| Operating Expenses |
$4,671
|
$1.80
|
| Total Expenses |
$8,341
|
$3.21
|
| Net Operating Income |
$27,659
|
$10.64
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $36,000 |
| Annual Per SF | $13.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $36,000 |
| Annual Per SF | $13.85 |
| Taxes | |
|---|---|
| Annual | $3,670 |
| Annual Per SF | $1.41 |
| Operating Expenses | |
|---|---|
| Annual | $4,671 |
| Annual Per SF | $1.80 |
| Total Expenses | |
|---|---|
| Annual | $8,341 |
| Annual Per SF | $3.21 |
| Net Operating Income | |
|---|---|
| Annual | $27,659 |
| Annual Per SF | $10.64 |
Property Facts
Sale Type
Investment
Property Type
Building Size
2,512 SF
Building Class
B
Year Built
1987
Price
$324,900
Price Per SF
$129.34
Cap Rate
8.51%
NOI
$27,642
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 | $116,500 |
| Land Assessment | $50,800 | Annual Taxes | $3,670 ($1.46/SF) |
| Improvements Assessment | $65,700 | Tax Year | 2025 |
Property Taxes
Parcel Number
46-05-03-101-008.000-009
Land Assessment
$50,800
Improvements Assessment
$65,700
Total Assessment
$116,500
Annual Taxes
$3,670 ($1.46/SF)
Tax Year
2025
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1200 S Woodland Ave
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