Mixed-Use Building with Flexible
For Sale
$298,000
107 Lincolnway, La Porte, IN 46350
Commercial Sale, La Porte, IN
Property Size3,643 SF
Lot Size0.10 Acres
Price / SF$81.80
Days on Market421
Property Features for 107 Lincolnway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Rooms
Basement
Parking
4
Parking features
Off Street, Alley, Driveway
Interior features
Ceiling Fan(s), Walk-In Closet(s), Soaking Tub, Open Floorplan, High Ceilings, Granite Counters, Eat-in Kitchen, Crown Molding
Exterior features
Private Yard
Basement
Storage Space, Full, Unfinished
Appliances
Gas Water Heater, Water Heater
Subdivision
Walkers Second Add
Lot features
Back Yard, Private, Near Public Transit, Landscaped, Front Yard, Few Trees
View
City
High school
LaPorte High School
Elementary school district
La Porte
Middle school district
La Porte
High school district
La Porte
Directions
Located on lincolnway in-between Adams and Tipton backs up to State street. Can enter off Lincolnway or State street driveway goes from Lincolnway to State.
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active
APN
460636161010000043
Size
3,643 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
05-06-36-161-010 WALKERS 2ND W 1/2 LT 5 BLK 9.
Tax Annual Amount
1730
Legal Description
05-06-36-161-010 WALKERS 2ND W 1/2 LT 5 BLK 9.
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Natural Gas, Forced Air
Water source
Public
Amenities
walk-in closets
remodeled bathrooms
hardwood floors
updated kitchen
built in bench
2 staircase entrances
Building Details
Year built
1912
Listing Agency:
BHHS Executive Realty
(219) 663-1986
Listed By:
Susie Etter · License #RB14048146
(219) 629-3300
Added: Jul 15, 2025
Changed: Sep 2
Last Checked: Sep 8 at 5:06PM
MLS# 824303
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1912, this 3,643-square-foot mixed-use property occupies 0.101 acres and offers a versatile interior arrangement. The building includes five large bedrooms with walk-in closets, a main-floor bedroom or office, three living areas, a foyer with built-in bench seating, and separate front and rear entry points with two stairways. A remodeled full bathroom serves the upper level, while the main floor has a remodeled half bath. Hardwood floors, high ceilings, crown molding, granite counters, and an updated kitchen add to the interior finish. Zoned CBD1, the property supports a range of commercial and mixed-use concepts identified in the source information, including bed and breakfast, café, retail, bakery, office, and medical applications, with the ability to live upstairs.
The property is located at 107 Lincolnway in La Porte, near downtown amenities and within walking distance of downtown areas. The surrounding context includes access to lakes, including Pine Lake, a boating marina, clubhouse, museum, orchards, parks, and a heritage center. Public water and public sewer serve the property, with natural-gas forced-air heating and off-street, driveway, and alley parking options.
The property is located at 107 Lincolnway in La Porte, near downtown amenities and within walking distance of downtown areas. The surrounding context includes access to lakes, including Pine Lake, a boating marina, clubhouse, museum, orchards, parks, and a heritage center. Public water and public sewer serve the property, with natural-gas forced-air heating and off-street, driveway, and alley parking options.
Key Highlights
- 3,643‑square‑foot mixed‑use property on 0.101 acres
- CBD1 business zoning in La Porte
- Five large bedrooms with walk‑in closets
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,672
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$493,440
$493.4K
Cap Rate 7%
$352,457
$352.5K
Cap Rate 9%
$274,133
$274.1K
Market Conditions
NOI Build-Up for 3,643 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.7K $12.00/SF
− Vacancy
−$4.2K −$1.16/SF
EGI
$39.5K $10.84/SF
− OpEx
−$14.8K −$4.06/SF
NOI
$24.7K $6.77/SF
Area
LaPorte County, IN
Vacancy
9.70%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$493,440
Cap Rate 7%
$352,457
Cap Rate 9%
$274,133
Alternative Uses
Best Use
Retail
$490.1K
$428.9K – $571.8K
NOI $34,309 @ 7.0% cap · market cap 11.51%
Second Best
Mixed Use
$352.5K
$308.4K – $411.2K
NOI $24,672 @ 7.0% cap · market cap 8.28%
Theoretical Best
Specialty Retail
$1.01M
$886.2K – $1.18M
NOI $70,894 @ 7.0% cap · market cap 23.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Shops & Services 27%
Dining 14%
Beauty & Spa 9%
Kroger
Groceries
33,855 visits/mo
0.5 miles
Buffalo Wild Wings
Dining
10,096 visits/mo
0.4 miles
Family Express
Shops & Services
7,159 visits/mo
0.5 miles
Great Clips
Beauty & Spa
6,031 visits/mo
0.5 miles
AutoZone
Shops & Services
4,797 visits/mo
0.4 miles
Demographics for 46350, IN
44,522
Population
19,576
Households
2.3
Avg Household Size
42
Median Age
24%
College-Educated
92%
High-School Grad
193.5 sq mi
ZIP Area
230
Density / Sq Mi
$75,311
Median Household Income
$44,309
Median Earnings
$920
Median Rent
$199,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CBD1-zoned property combines remodeled living areas with commercial-oriented rooms and separate access points.
Where is this mixed-use property located?
The property is located at 107 Lincolnway La Porte, IN.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: 3,643‑square‑foot mixed‑use property on 0.101 acres; CBD1 business zoning in La Porte; Five large bedrooms with walk‑in closets
