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    717 Michigan Ave La Porte, IN 46350

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    For Sale
    $725,000

    Multi-tenant building in historic downtown LaPorte with income potential.

    Property size:
    20,868 SF
    Lot size:
    0.16 Acres

    Property Features for 717 Michigan Ave

    General Information

    Size
    20,868 SF
    Lot size
    0.16 Acres

    Source: Bradley Company | Merrillville Agent Steven (Steve) Nicksic

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Downtown LaPorte Multi-Tenant Building

    Located in the heart of historic downtown LaPorte, this multi-tenant building benefits from its location within the Urban Enterprise Grant Program. The property offers convenient access to major highways, including immediate access to Hwy 35/39 and State Hwy 2. LaPorte's proximity to the double track South Shore train project enhances its accessibility to Chicago by rail. The building features a solid rent base with several long-term tenants. The first two floors are fully leased, while the third floor is available for an owner-occupier seeking rental income. The third floor could also be converted into multi-residential apartments. Elevator access is available to all floors. A large parking lot serves the property, a rare amenity for a downtown location. The property size is 20868 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    John T. Heroldt, ... Psychologist Edward Jones - Financial ... Investment Service Hair by Hannah ... Hair Salon Parcel Port Shipping And Mailing Service UPS Authorized Shipping ... Shipping And Mailing Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    La Porte
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.7204443
    Latitude
    41.6107298

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    FAQs

    What type of property is this?
    Office building - Multi-tenant building in historic downtown LaPorte with income potential.
    Where is this office building located?
    The property is located at 717 Michigan Ave La Porte, IN.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: - Located in the heart of historic downtown LaPorte with Urban Enterprise Grant Program eligibility.; - Solid rent base with long-term tenants and fully leased first two floors.; - Third floor offers flexibility: owner occupancy with rental income or conversion to multi-residential apartments.
    (219) 508-0554
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    Realmo Value Estimation

    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.

    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.

    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
    717 Michigan Ave La Porte, IN 46350
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