Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Wooded Land in Portage, Indiana Title is generated by Realmo AI

    0-tbd Lenburg Road, Portage, IN 46368

    View on Map
    Claim this Listing
    Picture of Land at 0-tbd Lenburg Road, Portage, IN
    For Sale
    $104,500

    LAND - Portage, IN

    Lot size:
    6.66 Acres
    Added:
    Nov 3, 2025
    Days on Market:
    192
    Last Refresh:
    May 14 at 5:06 pm

    Property Features for 0-tbd Lenburg Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    640608327001000016
    Lot size
    6.66 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Legal Description: PARC IN SW E OF SALT CREEK DESC DR480 P437 8-36-6 6.66A
    Tax Annual Amount
    152

    Utilities

    Utilities
    Natural Gas Available

    We can help!

    Listing Contact
    Matt Evans
    Matt Evans

    Listing agent Matt Evans License #5452673

    Listing office RE/MAX Lifestyles 831 E. Lincolnway, Valparaiso, IN

    Listing date Nov 3, 2025

    MLS# 830289 Listing URL

    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.

    HighLights

    • Wooded 6+ acre lot offers privacy and natural beauty.
    • Located in Portage, providing convenient access to amenities.
    • Borders the east side of Salt Creek, offering potential water views or access.
    • Zoned R2, allowing for residential development (buyer to verify).
    • Natural Gas Available, a desirable utility for heating and cooking.
    • Corner lot location.

    Overview

    This wooded 6.66-acre property is located in Portage, Indiana, at the corner of Lenburg Road, bordering the east side of Salt Creek. The zoning is indicated as R2. Prospective buyers are advised to verify the topography, buildability, and zoning regulations to ensure suitability for their intended use. The seller's signing authority is an Indiana Licensed Broker.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Dental Office Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm Big Box & Wholesale Store Daycare Center Department Store HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Porter
    State
    Indiana
    Longitude
    -87.136916
    Latitude
    41.584762

    Nearby Similar for Sale

    • $1,600,000
      7,374 SF

      Dual-Unit Auto Repair Facility

      Turnkey auto repair facility on high-traffic corridor with equipment included.
      5843 U.s. 6, Portage, IN 46368
      View Details
    • $280,000
      4,212 SF

      Portage Office Building with Basement

      High-visibility office building with ample parking and storage in Portage.
      3437 Airport Road, Portage, IN 46368
      View Details
    • $120,000

      Prime Highway Frontage Land

      One-acre lot on US Highway 20 in Portage, Indiana.
      6396 Melton Road, Portage, IN 46368
      View Details
    • $799,000

      Residential Land in Portage, Indiana

      31.95 acre residential parcel in established Portage subdivision.
      Mccool Road, Portage, IN 46368
      View Details
    • $350,000

      Prime Commercial Development Opportunity

      2.5 acres with high visibility on Highway Route 6.
      3567 Scottsdale Street, Portage, IN 46368
      View Details
    • $65,000

      Residential Land in Portage, Indiana

      0.27 acre residential parcel in Squirrel Creek Estate Subdivision.
      Cheryl Street lot: 1, Portage, IN 46368
      View Details
    • $290,000
      5,400 SF

      Versatile Commercial Building with Vacant Lot

      5,400 SF commercial building with vacant lot included.
      5960 Evergreen Avenue, Portage, IN 46368
      View Details
    • $65,000

      Residential Land in Portage, Indiana

      0.27 acre residential parcel in Squirrel Creek Estate Subdivision.
      Cheryl Street lot: 220, Portage, IN 46368
      View Details
    • $1,850,000

      32-Acre Development Opportunity in Portage

      Prime commercial and residential development land near I-90.
      Willowcreek & Portage Ave Road, Portage, IN 46368
      View Details
    • $2,983,870

      New Construction Starbucks Investment Opportunity

      New construction Starbucks in Chicago MSA with long-term lease.
      6051 Central Ave, Portage, IN
      View Details
    • $1,750,000
      4,701 SF

      Medical Office Building For Sale

      Medical office building with long-term tenant commitment through October 2030.
      6200 Central Ave, Portage, IN 46368
      View Details
    • Contact for pricing
      133,841 SF

      Freestanding Retail Building For Sale

      Single-tenant retail building in Portage, Indiana, near Chicago.
      6221 US Hwy. 6, Portage, IN 46368
      View Details

    FAQs

    What type of property is this?
    Land - 6+ acres of wooded land near Salt Creek.
    Where is this land located?
    The property is located at 0-tbd Lenburg Road Portage, IN.
    What is the asking price?
    The asking price for this property is $104,500.
    What are key features of this property?
    This property features: Wooded 6+ acre lot offers privacy and natural beauty.; Located in Portage, providing convenient access to amenities.; Borders the east side of Salt Creek, offering potential water views or access.
    (219) 241-8401
    We can help!
    Listing Contact
    Matt Evans
    Matt Evans
    Real Estate License ID: 5452673
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    0-tbd Lenburg Road, Portage, IN 46368
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!