Storefront Property with
For Sale
$459,000
206 Lincolnway, La Porte, IN 46350
Commercial Sale, La Porte, IN
Property Size6,972 SF
Lot Size0.22 Acres
Price / SF$65.83
Days on Market79
Property Features for 206 Lincolnway
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
20
Parking features
Garage, On Street, Alley, Driveway, Off Street, Oversize
Security features
Security System
Exterior features
Rain Gutters
Subdivision
Walkers 2nd Add
Lot features
Corner Lot, Rectangular Lot, Near Public Transit, Paved
View
City
Directions
East on Lincolnway, building is on right
Standard status
Active
APN
460636306004000043
Size
6,972 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
05-06-36-306-004 26 FT ON E SD LINWOOD X 91.03 FT DP CMG 101 FT S OF LINCOLNWAY & 45.92 FT ON S SD LINCOLNWAY CMG 80.96 FT W OF ADAMS
Tax Annual Amount
4670
Legal Description
05-06-36-306-004 26 FT ON E SD LINWOOD X 91.03 FT DP CMG 101 FT S OF LINCOLNWAY & 45.92 FT ON S SD LINCOLNWAY CMG 80.96 FT W OF ADAMS
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1931
Listing Agency:
MTM Realty Group
(219) 324-4640
Listed By:
Mike Liberatore · License #RB14046276
(219) 363-2944
Added: Jun 29
Changed: Sep 12
Last Checked: Sep 15 at 3:06AM
MLS# 841505
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 storefront property includes approximately 6,300 square feet in the main building along with an additional 672+/- square foot garage. The front area is arranged for retail use with a showroom, restroom, stock and storage room, and private office. A garage and work area occupy the rear, with a loft containing the building’s mechanical systems. The garage area also includes a second bathroom that may be reconnected to city utilities.
The property sits on 0.2192 acres and includes a spacious parking lot with off-street parking. Additional parking features include alley access, a garage, on-street parking, an oversized driveway, and off-street parking. Built in 1931, the building is served by public water and public sewer, with natural gas and forced-air heating.
The property sits on 0.2192 acres and includes a spacious parking lot with off-street parking. Additional parking features include alley access, a garage, on-street parking, an oversized driveway, and off-street parking. Built in 1931, the building is served by public water and public sewer, with natural gas and forced-air heating.
Key Highlights
- Approximately 6,300 square feet in the main building
- Additional 672+/- square foot garage with work area and loft
- Retail area includes showroom, restroom, storage room, and private office
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
$26,530
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
5.78%
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%
$530,600
$530.6K
Cap Rate 7%
$379,000
$379.0K
Cap Rate 9%
$294,778
$294.8K
Market Conditions
NOI Build-Up for 6,972 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
$41.8K $6.00/SF
− Vacancy
−$3.9K −$0.56/SF
EGI
$37.9K $5.44/SF
− OpEx
−$11.4K −$1.63/SF
NOI
$26.5K $3.81/SF
Area
LaPorte County, IN
Vacancy
9.40%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
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%
$530,600
Cap Rate 7%
$379,000
Cap Rate 9%
$294,778
Alternative Uses
Best Use
Flex RnD
$1.29M
$1.13M – $1.50M
NOI $90,154 @ 7.0% cap · market cap 19.64%
Second Best
Retail
$938.0K
$820.8K – $1.09M
NOI $65,661 @ 7.0% cap · market cap 14.31%
Theoretical Best
Specialty Retail
$1.94M
$1.70M – $2.26M
NOI $135,677 @ 7.0% cap · market cap 29.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
Under-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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layout combines customer-facing retail space with showroom, storage, office, and dedicated work areas.
Where is this storefront property located?
The property is located at 206 Lincolnway La Porte, IN.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Approximately 6,300 square feet in the main building; Additional 672+/- square foot garage with work area and loft; Retail area includes showroom, restroom, storage room, and private office
