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4303-4361 Franklin St
Michigan City, IN 46360
88% Occ JoAnn/Hobby Lobby Ctr|$53/SF|9% Cap · Retail Property For Sale
Property Facts
Amenities
- 24 Hour Access
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Security System
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
About 4303-4361 FRANKLIN ST , MICHIGAN CITY, IN 46360
Just Reduced! The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in Lake Park Plaza anchored by Hobby Lobby and JoAnn Fabrics and Crafts and shadow anchored by Big R Stores in Michigan City, Indiana. • The 114,867 S.F. retail center is being offered for $6,045,000, representing $53/SF and an attractive 9.00% CAP Rate. The 88% occupied center also center provides upside through the lease-up of the remaining vacant units. • Many of the tenants at Lake Park Plaza have been in place for many years and have continued to exercise renewals proving their commitment to the center and the market. • The rent roll consists of an excellent mix of national, regional and local tenants and draws from the anchors, Hobby Lobby and JoAnn’s, along with the plaza’s shadow retailers including Big R, Red Lobster, KFC and Chase Bank.
Property Taxes
| Parcel Number | 46-05-08-276-014.000-009 | Improvements Assessment | $1,970,600 |
| Land Assessment | $1,117,300 | Total Assessment | $3,087,900 |
Property Taxes
