Multi-Unit Flex
New
For Sale
$670,000
5830 Us Highway 6, Portage, IN 46368
COMMERCIAL - Portage, IN
Property Size10,358 SF
Lot Size0.60 Acres
Price / SF$64.68
Days on Market3
Property Features for 5830 Us Highway 6
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Parking features
On Street, Alley
Security features
Security System
Interior features
Cathedral Ceiling(s), Walk-In Closet(s), Open Floorplan, Ceiling Fan(s)
Lot features
Paved
View
City
High school
Portage High School
Directions
Willowcreek & Highway 6 West. Property at stop light corner of 6 & Ash.
Standard status
Active
APN
640523451012000016
Size
10,358 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E75 W1000 S350 W1/2 SE EXN40 S8023-36-7 .60A Ditch
Tax Annual Amount
7055
Legal Description
E75 W1000 S350 W1/2 SE EXN40 S8023-36-7 .60A Ditch
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1984
Listing Agency:
McColly Real Estate
(219) 762-8578
Listed By:
Judith Posiadlik
(219) 921-6316
Added: Aug 14
Last Checked: Aug 16 at 6:06AM
MLS# 843862
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 10,358-square-foot flex building contains four separately configured units across main- and upper-level areas. The property includes updated siding, windows, lighting, and electrical improvements in select spaces, along with office areas, public and private bathrooms, storage closets, coded access, and natural light. Two units include overhead bay doors measuring 8 feet and 10 feet, respectively, while another is plumbed for a bathroom. A forklift is included with the sale.
Shared areas provide additional storage, an unfinished office, and two- and three-compartment sinks serving Units 1 and 4. Built in 1984, the property sits on 0.6 acres at 5830 US Highway 6 in Portage, Indiana. Public water and public sewer serve the building, with natural gas heating and alley and on-street parking.
Shared areas provide additional storage, an unfinished office, and two- and three-compartment sinks serving Units 1 and 4. Built in 1984, the property sits on 0.6 acres at 5830 US Highway 6 in Portage, Indiana. Public water and public sewer serve the building, with natural gas heating and alley and on-street parking.
Key Highlights
- 10,358‑square‑foot commercial building on 0.6 acres
- Four multi‑tenant units with main- and upper‑level configurations
- Unit 3 includes an 8' bay overhead door and coded access
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
$61,552
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
9.19%
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%
$1,231,040
$1.2M
Cap Rate 7%
$879,314
$879.3K
Cap Rate 9%
$683,911
$683.9K
Market Conditions
NOI Build-Up for 10,358 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
$103.2K $9.96/SF
− Vacancy
−$8.5K −$0.82/SF
EGI
$94.7K $9.14/SF
− OpEx
−$33.1K −$3.20/SF
NOI
$61.6K $5.94/SF
Area
Porter County, IN
Vacancy
8.21%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,231,040
Cap Rate 7%
$879,314
Cap Rate 9%
$683,911
Alternative Uses
Best Use
Office B
$1.78M
$1.56M – $2.07M
NOI $124,433 @ 7.0% cap · market cap 18.57%
Second Best
Flex RnD
$879.3K
$769.4K – $1.03M
NOI $61,552 @ 7.0% cap · market cap 9.19%
Theoretical Best
Healthcare Medical
$3.93M
$3.44M – $4.58M
NOI $274,804 @ 7.0% cap · market cap 41.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Four distinct spaces combine office, storage, and service-oriented configurations with shared utility and storage areas.
Where is this flex space located?
The property is located at 5830 Us Highway 6 Portage, IN.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 10,358‑square‑foot commercial building on 0.6 acres; Four multi‑tenant units with main- and upper‑level configurations; Unit 3 includes an 8' bay overhead door and coded access
