Bed & Breakfast with Zoned
For Sale
$298,000
107 Lincolnway, La Porte, IN 46350
COMMERCIAL - La Porte, IN
Property Size3,643 SF
Lot Size0.10 Acres
Price / SF$81.80
Days on Market393
Property Features for 107 Lincolnway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Rooms
Basement
Parking
4
Parking features
Driveway, Off Street, Alley
Interior features
Ceiling Fan(s), Walk-In Closet(s), Soaking Tub, Open Floorplan, High Ceilings, Granite Counters, Eat-in Kitchen, Crown Molding
Exterior features
Private Yard
Basement
Unfinished, Storage Space, Full
Appliances
Gas Water Heater, Water Heater
Subdivision
Walkers Second Add
Lot features
Back Yard, Private, Near Public Transit, Landscaped, Front Yard, Few Trees
View
City
High school
LaPorte High School
Elementary school district
La Porte
Middle school district
La Porte
High school district
La Porte
Directions
Located on lincolnway in-between Adams and Tipton backs up to State street. Can enter off Lincolnway or State street driveway goes from Lincolnway to State.
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Active
APN
460636161010000043
Size
3,643 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
05-06-36-161-010 WALKERS 2ND W 1/2 LT 5 BLK 9.
Tax Annual Amount
1730
Legal Description
05-06-36-161-010 WALKERS 2ND W 1/2 LT 5 BLK 9.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Zoned
Water source
Public
Amenities
remodeled bathrooms
walk-in closets
foyer with built-in bench
hardwood floors
updated kitchen
two staircase entrances
Building Details
Year built
1912
Listing Agency:
BHHS Executive Realty
(219) 663-1986
Listed By:
Susie Etter · License #RB14048146
(219) 629-3300
Added: Jul 15, 2025
Changed: Aug 4
Last Checked: Aug 11 at 8:06PM
MLS# 824303
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 remodeled bed and breakfast offers flexible live/work layout with five large bedrooms and walk-in closets. The home features a full bathroom upstairs and a half bath downstairs, hardwood floors, an updated kitchen, and granite counters. Interior details include an eat-in kitchen, open floorplan, high ceilings, crown molding, ceiling fans, and a soaking tub. The main floor includes a bedroom/office plus three main living areas, with a foyer that has a built-in bench for storage and a waiting-area feel. There is a separate area off the front entrance with another door and closet, and two staircase entrances—one off the front foyer area and one off the back entrance. A basement is included, along with a private yard.
Zoned CBD1 for downtown business use, the property supports multiple concepts mentioned in the remarks, including bed and breakfast, cafe, retail, bakery, and office uses, with the possibility to live upstairs. The home is close to all seven lakes (including Pine Lake), with boating, marina, and clubhouse access, and it is within walking distance of downtown areas and nearby museum, orchards, parks, and the heritage center.
Built in 1912, the property totals 3,643 square feet on a 0.101-acre lot. Heating is zoned forced air with natural gas, and utilities include public water and public sewer. Parking includes off-street options, a driveway, and an alley.
Zoned CBD1 for downtown business use, the property supports multiple concepts mentioned in the remarks, including bed and breakfast, cafe, retail, bakery, and office uses, with the possibility to live upstairs. The home is close to all seven lakes (including Pine Lake), with boating, marina, and clubhouse access, and it is within walking distance of downtown areas and nearby museum, orchards, parks, and the heritage center.
Built in 1912, the property totals 3,643 square feet on a 0.101-acre lot. Heating is zoned forced air with natural gas, and utilities include public water and public sewer. Parking includes off-street options, a driveway, and an alley.
Key Highlights
- Zoned CBD1 for downtown business use in La Porte
- Remodeled interior with full bathroom upstairs and half bath downstairs
- Five large bedrooms with walk‑in closets
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
$19,436
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
6.52%
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%
$388,720
$388.7K
Cap Rate 7%
$277,657
$277.7K
Cap Rate 9%
$215,956
$216.0K
Market Conditions
NOI Build-Up for 3,643 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
$52.5K $14.40/SF
− Vacancy
−$11.5K −$3.17/SF
EGI
$40.9K $11.23/SF
− OpEx
−$21.5K −$5.90/SF
NOI
$19.4K $5.34/SF
Area
LaPorte County, IN
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
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%
$388,720
Cap Rate 7%
$277,657
Cap Rate 9%
$215,956
Alternative Uses
Best Use
Specialty Retail
$1.01M
$886.2K – $1.18M
NOI $70,894 @ 7.0% cap · market cap 23.79%
Second Best
Hotel Hospitality
$277.7K
$243.0K – $323.9K
NOI $19,436 @ 7.0% cap · market cap 6.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
169k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 28%
Groceries 20%
Beauty & Spa 4%
Kroger
Groceries
33,855 visits/mo
0.3 miles
Ollie's Bargain Outlet
Shops & Services
20,499 visits/mo
0.4 miles
Dunkin' Donuts
Dining
20,033 visits/mo
0.5 miles
Starbucks
Dining
19,568 visits/mo
0.4 miles
Wendy's
Dining
10,165 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Remodeled bed and breakfast with five bedrooms, walk-in closets, and full bath upstairs plus half bath downstairs.
Where is this bed & breakfast located?
The property is located at 107 Lincolnway La Porte, IN.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: Zoned CBD1 for downtown business use in La Porte; Remodeled interior with full bathroom upstairs and half bath downstairs; Five large bedrooms with walk‑in closets
