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3723 Franklin St
Michigan City, IN 46360
Credit Tenant | Leased to Franciscan Health · Office Property For Sale
Investment Highlights
- There are minimal landlord responsibilities throughout the lease term, offering a passive investment for both local and national investors.
- The property is strategically located less than three miles from the Franciscan Health Michigan City hospital.
- Franciscan Health has a “AA” Fitch rating with over 20,000 employees and a number of nationally recognized Centers of Health Care Excellence
- A newly constructed Double Track train line, costing $649 million, now links Michigan City to the South Shore Line passenger train service
- There are just under 5 years remaining on the lease with 2% annual increases and one, 5-year option to extend.
- Franciscan Alliance is among the largest and most respected physician networks in the Midwest, with 12 hospital campuses
Property Facts
Property Type
Office
Property Subtype
Building Size
14,132 SF
Building Class
C
Year Built/Renovated
1954/2018
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
7,066 SF
Building FAR
0.31
Lot Size
1.04 AC
Parking
30 Spaces (2.12 Spaces per 1,000 SF Leased)
Amenities
- Wheelchair Accessible
- Monument Signage
Property Taxes
| Parcel Number | 46-05-05-426-027.000-009 | Improvements Assessment | $211,200 |
| Land Assessment | $167,800 | Total Assessment | $379,000 |
Property Taxes
Parcel Number
46-05-05-426-027.000-009
Land Assessment
$167,800
Improvements Assessment
$211,200
Total Assessment
$379,000
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