Office Building with Open
For Sale
$650,000
201 S Koomler Drive, La Porte, IN 46350
Commercial Sale, La Porte, IN
Property Size3,500 SF
Lot Size0.90 Acres
Price / SF$185.71
Days on Market19
Property Features for 201 S Koomler Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
16
Parking features
Off Street, Driveway
Security features
Security Lighting
Interior features
Entrance Foyer, Recessed Lighting, Open Floorplan, Laminate Counters, High Ceilings
Exterior features
Lighting, Rain Gutters
Appliances
Microwave, Refrigerator
Lot features
Corner Lot, Rectangular Lot, Paved, Landscaped, Few Trees
View
City
Directions
Severs Rd to Genesis Dr south on Genesis to Koomler Dr
Standard status
Active
APN
460625200016000043
Size
3,500 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
05-06-25-200-016 PCE 156 X 250 FT CMG 229.26 FT W OF NE COR OF WHIRLPOOL DR & KOOMLER DR S25 T37 R3 - .90 A
Tax Annual Amount
5874
Legal Description
05-06-25-200-016 PCE 156 X 250 FT CMG 229.26 FT W OF NE COR OF WHIRLPOOL DR & KOOMLER DR S25 T37 R3 - .90 A
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1991
Listing Agency:
Coldwell Banker 1st Choice · Coldwell Banker Real Estate
(219) 324-2121
Listed By:
Jay Tenuta
(219) 393-9163
Added: Aug 3
Changed: Aug 19
Last Checked: Aug 21 at 1:06AM
MLS# 843308
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 3,500-square-foot office building occupies a 0.9-acre parcel at 201 S Koomler Drive in La Porte, Indiana. Built in 1991, the property includes an open floor plan, entrance foyer, recessed lighting, laminate counters, and high ceilings. Central heating, public water, and public sewer serve the building, while a microwave and refrigerator remain in place.
The property is situated within an established commercial and industrial corridor and includes off-street parking and a driveway. Exterior lighting and rain gutters are also in place. Its prior use by a financial institution and adaptable interior support a range of professional office configurations, including medical, legal, accounting, engineering, insurance, educational, and corporate office settings.
The property is situated within an established commercial and industrial corridor and includes off-street parking and a driveway. Exterior lighting and rain gutters are also in place. Its prior use by a financial institution and adaptable interior support a range of professional office configurations, including medical, legal, accounting, engineering, insurance, educational, and corporate office settings.
Key Highlights
- 3,500 square feet of office space on a 0.9‑acre parcel
- Open floor plan with entrance foyer and high ceilings
- Built in 1991 with central heating
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
$35,753
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
5.50%
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%
$715,060
$715.1K
Cap Rate 7%
$510,757
$510.8K
Cap Rate 9%
$397,256
$397.3K
Market Conditions
NOI Build-Up for 3,500 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
$52.5K $15.00/SF
− Vacancy
−$4.8K −$1.38/SF
EGI
$47.7K $13.62/SF
− OpEx
−$11.9K −$3.41/SF
NOI
$35.8K $10.22/SF
Area
LaPorte County, IN
Vacancy
9.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$715,060
Cap Rate 7%
$510,757
Cap Rate 9%
$397,256
Alternative Uses
Best Use
Office B
$510.8K
$446.9K – $595.9K
NOI $35,753 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$973.0K
$851.4K – $1.14M
NOI $68,111 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Adaptable professional office property with on-site parking, high ceilings, and public utilities.
Where is this office building located?
The property is located at 201 S Koomler Drive La Porte, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,500 square feet of office space on a 0.9‑acre parcel; Open floor plan with entrance foyer and high ceilings; Built in 1991 with central heating
