1700-1724 E US Highway 20
Michigan City, IN 46360
Evergreen Plaza · Retail Property For Sale

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.