Marathon Gas Station

Retail-Commercial for Sale
Catylist Listing ID: 29987358
Property Subtypes: Service Station/Gas Station
Building Size (RSF): 2,250 SF
Sale Price: $1,150,000
Unit Price: $511.11 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Marathon Gas Station
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/6/2021

Overview / Comments

Marathon Gas Station. Totally rebuilt in 2005. 3 Tanks (12,000 reg: 4,000 prem. and 8,000 diesel) 4 pump islands (8 pumps). Convenience Store.
High profile site on busy Franklin St. (July 2016) The Station is currently leased and the tenant has suggested the Gas volume is 500,000 gal/yr +/- and the C Store is ($360,000 ann)+/-. All supply contracts to the Station are the property of the tenant.

Additional Details

Nearest MSA: Michigan City-La Porte
County: LaPorte
Taxing Authority: La Porte County
Tax ID/APN: 460508426017000009
Market Type: Medium
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Side of Street: West
Road Type: Paved
Property Visibility: Excellent
Transportation: Highway, Other
Highway Access: I-94 1mile South. US 20 1/2 mile North
Airports: Michigan City Regional Airport just 2 miles away.
Area Description: Sits on Franklin St. Main retail corridor on South side of Michigan City.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2005
Year Renovated: 2005
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Parking Description: Consistent with Gas Station operation
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Typical Convenience store layout.
Lot Frontage: 150
Lot Depth: 200
Legal Description: CMG 44.83 ft W of E Qtr Cor of Sec 8 Ex Tri Pce SE Cor S8-T37-R4 .679ac

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,597 29,962 43,955
Median Age: 35.22 38.17 40.13
Households: 1,649 11,452 17,235


Photograph of Listing Agent

Belinda Schuster, CCIM

NWI Commercial Real Estate ICREX Member
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