Retail Space Along
For Sale
$299,000
111 E Lincolnway, La Porte, IN 46350
B-2 General Commercial District location near Downtown La Porte supports retail, service, and customer-facing business uses.
Property Size1,983 SF
Lot Size0.40 Acres
Price / SF$150.78
Days on Market104
Property Features for 111 E Lincolnway
General Information
Standard status
Active
Size
1,983 SF
Lot size
0.40 Acres
Zoning
B-2
Additional Details
Traffic Count
17,500 vehicles/day
Building Details
Year Built
1981
Buildings
1
Listing Agency:
Cressy & Everett - South Bend
(574) 217-1405
Listed By:
Fares Farhan · License #RB25001540
(574) 217-1405
Source:
Exprealty
Added: May 5
Changed: Aug 16
Last Checked: Aug 16 at 6:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cressy & Everett - South Bend
Investment Insights
Based on property information with market context.
The property includes a 1,983 SF retail building constructed in 1981 on a 0.40-acre lot. Its position along SR-2/E Lincolnway provides a customer-facing setting with access to an established commercial corridor. The B-2 General Commercial District supports a range of retail, service, and other customer-oriented business uses.
Located at 111 E Lincolnway, the property is near Downtown La Porte and records approximately 17,500 vehicles per day along the corridor. Valparaiso is 21 miles away, while South Bend is 20 miles from the site, extending access to nearby regional markets.
Located at 111 E Lincolnway, the property is near Downtown La Porte and records approximately 17,500 vehicles per day along the corridor. Valparaiso is 21 miles away, while South Bend is 20 miles from the site, extending access to nearby regional markets.
Key Highlights
- 1,983 SF retail building on a 0.40‑acre lot
- Approximately 17,500 vehicles per day along SR‑2/E Lincolnway
- B‑2 General Commercial District zoning
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
$18,675
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
6.25%
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%
$373,500
$373.5K
Cap Rate 7%
$266,786
$266.8K
Cap Rate 9%
$207,500
$207.5K
Market Conditions
NOI Build-Up for 1,983 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
$27.8K $14.00/SF
− Vacancy
−$1.1K −$0.55/SF
EGI
$26.7K $13.45/SF
− OpEx
−$8.0K −$4.04/SF
NOI
$18.7K $9.42/SF
Area
LaPorte County, IN
Vacancy
3.90%
Lease Rate
$14.00 /SF/Yr
Expense Ratio
30.00%
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%
$373,500
Cap Rate 7%
$266,786
Cap Rate 9%
$207,500
Alternative Uses
Best Use
Retail
$266.8K
$233.4K – $311.3K
NOI $18,675 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$551.3K
$482.4K – $643.2K
NOI $38,590 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
806
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Home Improvements & Furnishings 28%
Apparel 3%
Kabelin Ace Hardware
Home Improvements & Furnishings
5,734 visits/mo
0.4 miles
Dollar General
Shops & Services
5,636 visits/mo
0.4 miles
AutoZone
Shops & Services
4,797 visits/mo
0.2 miles
Fifth Third Bank & ATM
Shops & Services
3,282 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
2,538 visits/mo
0.1 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?
Retail space - B-2 General Commercial District location near Downtown La Porte supports retail, service, and customer-facing business uses.
Where is this retail space located?
The property is located at 111 E Lincolnway La Porte, IN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,983 SF retail building on a 0.40‑acre lot; Approximately 17,500 vehicles per day along SR‑2/E Lincolnway; B‑2 General Commercial District zoning
