Brick Office Building with
New
For Sale
$850,000
3060 Willowcreek Road, Portage, IN 46368
Commercial Sale, Portage, IN
Property Size3,290 SF
Lot Size1.13 Acres
Price / SF$258.36
Days on Market3
Property Features for 3060 Willowcreek Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking
12
Parking features
Garage, Open, Driveway, Oversize
Interior features
Entrance Foyer
Exterior features
Private Yard, Storage
Basement
Full, Interior Entry, Walk-Out Access
Accessibility
Accessible Approach with Ramp
Subdivision
Providence Manor
Lot features
Back Yard, Wooded, Private, Paved, Landscaped, Front Yard, Few Trees, Corner Lot
View
City
Directions
From US 6 Head North on Willowcreek Road all the way to the building, which is on the West side of the road.
Standard status
Active
APN
640523229003000016
Size
3,290 SF
Lot size
1.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
TRI PAR S RR NE COR OF INTER RR & E LINE NE 23-36-7 EX PT CTY 1.33A
Tax Annual Amount
6558
Legal Description
TRI PAR S RR NE COR OF INTER RR & E LINE NE 23-36-7 EX PT CTY 1.33A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Forced Air
Water source
Public
Amenities
conference room
lunch room
kitchenette
covered porch
back porch
natural gas grill
storage shed
private wooded backyard
public walking trail
Building Details
Year built
1957
Additional Structures
Storage
Listing Agency:
Envision Real Estate Services,
(219) 973-2004
Listed By:
Saba Mohammed
(219) 588-5092
Added: Aug 25
Last Checked: Aug 27 at 11:06AM
MLS# 844291
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 3,290-square-foot office building, constructed in 1957, provides a main-level reception area, waiting room, conference room, lunch room, kitchenette with sink and cabinetry, five offices, and a handicapped-accessible bathroom. The office area has both a primary entrance and a separate entry serving the five offices. A garage connects to the main level and includes an overhead door, while the full basement is partially finished and accessible from inside and outside.
The property includes 1.13 acres and 270 feet of frontage on Willow Creek Road, with C1 zoning. Its site includes 12 parking spaces, including 2 designated handicapped spaces, an accessible ramp with railing, a covered front porch, rear porch with an attached natural gas grill, storage shed, and private wooded yard adjoining a public walking trail. Public water and public sewer serve the property, and a brick, lighted display is positioned along the frontage for business signage.
The property includes 1.13 acres and 270 feet of frontage on Willow Creek Road, with C1 zoning. Its site includes 12 parking spaces, including 2 designated handicapped spaces, an accessible ramp with railing, a covered front porch, rear porch with an attached natural gas grill, storage shed, and private wooded yard adjoining a public walking trail. Public water and public sewer serve the property, and a brick, lighted display is positioned along the frontage for business signage.
Key Highlights
- 3,290‑square‑foot office building on 1.13 acres
- C1 zoning with 270' of frontage on Willow Creek Road
- 12 slot parking spaces, including 2 designated handicapped spaces
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
$39,523
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
4.65%
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%
$790,460
$790.5K
Cap Rate 7%
$564,614
$564.6K
Cap Rate 9%
$439,144
$439.1K
Market Conditions
NOI Build-Up for 3,290 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
$56.1K $17.04/SF
− Vacancy
−$3.4K −$1.02/SF
EGI
$52.7K $16.02/SF
− OpEx
−$13.2K −$4.00/SF
NOI
$39.5K $12.01/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$17.04 /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%
$790,460
Cap Rate 7%
$564,614
Cap Rate 9%
$439,144
Alternative Uses
Best Use
Office B
$564.6K
$494.0K – $658.7K
NOI $39,523 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.25M
$1.09M – $1.45M
NOI $87,286 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 46368, IN
39,837
Population
16,870
Households
2.4
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
1,575
Density / Sq Mi
$72,638
Median Household Income
$42,508
Median Earnings
$1,140
Median Rent
$213,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with flexible suites, accessible entry, on-site parking, and a wooded private yard adjoining a public walking trail.
Where is this office building located?
The property is located at 3060 Willowcreek Road Portage, IN.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,290‑square‑foot office building on 1.13 acres; C1 zoning with 270' of frontage on Willow Creek Road; 12 slot parking spaces, including 2 designated handicapped spaces
