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    Property profile & analytics

    6195 Central Ave Portage, IN 46368

    • Office Properties & Spaces
    • 0.29 lot acres
    For Sale
    View listing
    $199,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1080370
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hilbrich Law Firm / Law Firm / Estate Planning Attorney
    • John W. Peters, Attorney at Law / Personal Injury Attorney / Tax Attorney
    • Daniel B. Vinovich / Attorney
    • South Shore Tax Solutions / Accountant
    • Michael D. Dobosz / Attorney

    Property Details for 6195 Central Ave

    Year built
    1960
    Lot size
    0.29 lot acres
    Property type
    Office Properties & Spaces

    Description

    This exceptional investment opportunity presents a 0.29-acre office building located at 6195 Central Avenue in Portage, Indiana, currently priced at $199,000. The property boasts a high-traffic location, making it ideal for a variety of professional services. Currently configured to accommodate legal and accounting businesses, the building offers considerable flexibility for future tenants. The interior comprises four individual offices, providing ample space for individual practitioners or teams. A dedicated reception and waiting area ensures a professional first impression for clients. A convenient meeting room facilitates client consultations or internal collaborations. A kitchenette adds practicality for staff and tenants, while two bathrooms enhance convenience. Additional basement storage provides valuable space for files, supplies, or equipment. The existing month-to-month leases offer immediate cash flow and the potential for future rent increases. The property's prime location and versatile layout make it an attractive investment for those seeking a strong return on investment in a thriving commercial area. The building's adaptability makes it suitable for a range of professional services, including but not limited to insurance agencies and real estate firms. This is a rare opportunity to acquire a well-situated, income-producing property in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Porter
    State
    Indiana
    Longitude
    -87.17548
    Latitude
    41.57565

    Comparable in this City

    • $350,000
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      Remodeled Office/Retail Building For Sale

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    • $728,000
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      Office/Retail Building with Recent Upgrades

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    • $295,000
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      High-Visibility Portage Office Building

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      Prime Portage Commercial Land

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      6340 Melton Rd, Portage, IN 46368
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      1.52 Acres

      Portage Commercial Land Development

      Prime US-6 location, various lot sizes.
      5740 Us Highway 6, Portage, IN 46368
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    Similar Nearby for Sale

    • $350,000
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      Prime Commercial Development Opportunity

      2.5 acres with high visibility on Highway Route 6.
      3567 Scottsdale St, Portage, IN 46368
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      8,630 SF

      Remodeled Office/Retail Building For Sale

      Remodeled office/retail building with dedicated parking and warehouse space.
      5714 Central Ave, Portage, IN 46368
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    • $728,000
      8,000 SF

      Office/Retail Building with Recent Upgrades

      Six-unit office/retail building with leases and off-street parking.
      5979 Mccasland Ave, Portage, IN 46368
      View Details
    • $295,000
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      High-Visibility Portage Office Building

      2,100 sq ft office building in thriving business corridor.
      3437 Airport Rd, Portage, IN 46368
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    • $649,000
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      Prime Portage Commercial Land

      4 Acres, Highway Commercial Zoning, Ready to Develop
      6340 Melton Rd, Portage, IN 46368
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    • Contact for pricing
      1.52 Acres

      Portage Commercial Land Development

      Prime US-6 location, various lot sizes.
      5740 Us Highway 6, Portage, IN 46368
      View Details

    Similar Nearby for Lease

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      Halsted Building Office Suites

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      Class A retail and office spaces available for lease.
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      574,249 SF

      Portage, IN Industrial/Office Space

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      6515 Ameriplex Dr, Portage, IN 46368
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    • $15 SF/Yr
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      Retail/Office Space on US 6

      Class A retail and office spaces available for lease.
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    • $15 SF/Yr
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      Retail/Office Space on US 6

      Class A retail and office spaces available for lease.
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    • Contact for pricing
      88,500 SF

      Portage Warehouse Space Available

      88,500 sqft warehouse/industrial space for lease in Portage, Indiana.
      1680 Jensen Dr, Portage, IN 46368
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    6195 Central Ave
    Portage, IN 46368
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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