Industrial Flex Property with Multiple
For Sale
$1,400,000
1157 E 150 N, La Porte, IN 46350
Commercial Sale, La Porte, IN
Property Size26,038 SF
Lot Size9.60 Acres
Price / SF$53.77
Days on Market153
Property Features for 1157 E 150 N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
50
Parking features
Off Street
Security features
Security Lighting
Exterior features
Lighting, Storage
Lot features
Few Trees, Rectangular Lot, Paved
Directions
East on Lincolnway/SR-2, turn right onto Fail Rd, left onto 150 N, property on left.
Standard status
Active
APN
460729151024000052
Size
26,038 SF
Lot size
9.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
32-07-29-151-024 APCE SW COR NW 1/4 S29 T37 R2 6.02 AC 32-07-29-151-026 IN MID PT S SD SW 1/4 NW 1/4 S29 T37 R2 1.87 AC 32-07-29-151-020 PCE 350 X 212.79 FT CMG 837.6 FT E & 149 FT N OF W1/4 COR S29 T37 R2 1.709 A
Tax Annual Amount
10385
Legal Description
32-07-29-151-024 APCE SW COR NW 1/4 S29 T37 R2 6.02 AC 32-07-29-151-026 IN MID PT S SD SW 1/4 NW 1/4 S29 T37 R2 1.87 AC 32-07-29-151-020 PCE 350 X 212.79 FT CMG 837.6 FT E & 149 FT N OF W1/4 COR S29 T37 R2 1.709 A
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Water source
Well
Building Details
Year built
1960
Additional Structures
Storage
Listing Agency:
MTM Realty Group
(219) 324-4640
Listed By:
Mike Liberatore · License #RB14046276
(219) 363-2944
Added: Apr 16
Changed: Sep 9
Last Checked: Sep 15 at 3:06AM
MLS# 837308
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.
This flex property combines office, service, storage, and warehouse improvements across a 9.6-acre site. The office trailer includes three private offices, a meeting room, storage room, open bullpen, and two restrooms. A heated mechanics barn contains approximately 6,000 square feet, three 14-foot overhead doors, a restroom, break area, and lofted storage. The approximately 16,000-square-foot warehouse adds 18 overhead doors ranging from 8 to 10 feet tall, along with a restroom, break room, and lockers.
Located at 1157 E 150 N in La Porte, Indiana, the property sits outside the city limits near the east end of La Porte. The site is served by a well and septic tank, with natural gas and forced-air heating. Additional site features include off-street parking, lighting, and storage. The warehouse and mechanics facilities support distribution, equipment servicing, storage, and fleet-related operations.
Located at 1157 E 150 N in La Porte, Indiana, the property sits outside the city limits near the east end of La Porte. The site is served by a well and septic tank, with natural gas and forced-air heating. Additional site features include off-street parking, lighting, and storage. The warehouse and mechanics facilities support distribution, equipment servicing, storage, and fleet-related operations.
Key Highlights
- 9.6‑acre site at 1157 E 150 N, La Porte, IN 46350
- Approximately 16,000 square feet of warehouse space
- Heated mechanics barn spans approximately 6,000 square feet
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
$120,311
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
8.59%
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%
$2,406,220
$2.4M
Cap Rate 7%
$1,718,729
$1.7M
Cap Rate 9%
$1,336,789
$1.3M
Market Conditions
NOI Build-Up for 26,038 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
$156.2K $6.00/SF
− Vacancy
−$14.7K −$0.56/SF
EGI
$141.5K $5.44/SF
− OpEx
−$21.2K −$0.82/SF
NOI
$120.3K $4.62/SF
Area
LaPorte County, IN
Vacancy
9.40%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,406,220
Cap Rate 7%
$1,718,729
Cap Rate 9%
$1,336,789
Alternative Uses
Best Use
Flex RnD
$4.81M
$4.21M – $5.61M
NOI $336,693 @ 7.0% cap · market cap 24.05%
Second Best
Warehouse
$1.72M
$1.50M – $2.01M
NOI $120,311 @ 7.0% cap · market cap 8.59%
Theoretical Best
Specialty Retail
$7.24M
$6.33M – $8.45M
NOI $506,706 @ 7.0% cap · market cap 36.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible industrial site with office, mechanics, warehouse, storage, and fleet-oriented infrastructure.
Where is this flex space located?
The property is located at 1157 E 150 N La Porte, IN.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 9.6‑acre site at 1157 E 150 N, La Porte, IN 46350; Approximately 16,000 square feet of warehouse space; Heated mechanics barn spans approximately 6,000 square feet
