Building Details

Buildings 3

Listing Agency: McColly Real Estate l***@mccolly.com Show Phone

Listed By: Lisa Daniel-King · License #14025661 Show Phone

Source: Exprealty

Added: Sep 12 Changed: Oct 8 Last Checked: Oct 13 at 1:07AM

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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 McColly Real Estate

Investment Insights

Based on property information with market context.

Set on 2.25 acres, the property combines a 4,000-square-foot flex building with two self-storage buildings containing 50 units. The flex space includes a 400-square-foot heated and cooled office, an ADA-compliant restroom, and two overhead-door bays measuring 14X12 and 10X12. One bay is heated and has a triple catch basin.

Each storage unit measures 10X20. The property is zoned M-2 Heavy Industrial, which permits fencing and outdoor storage, and has city utilities. It is near downtown and new development activity.

Key Highlights

• 2.25‑acre property with flex space and two self‑storage buildings
• 4,000‑square‑foot flex building with a 400‑square‑foot heated and cooled office
• 50 storage units, each measuring 10X20

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$67,461

Cap Rate

8.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,349,220 $1.3M

Cap Rate 7%

$963,729 $963.7K

Cap Rate 9%

$749,567 $749.6K

Market Conditions

NOI Build-Up for 14,600 SF

Gross rent

$87.6K $6.00/SF

− Vacancy

−$8.2K −$0.56/SF

EGI

$79.4K $5.44/SF

− OpEx

−$11.9K −$0.82/SF

NOI

$67.5K $4.62/SF

Area

LaPorte County, IN

Vacancy

9.40%

Lease Rate

$6.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,349,220

Cap Rate 7%

$963,729

Cap Rate 9%

$749,567

Alternative Uses

Best Use

Flex RnD

$2.70M

$2.36M – $3.15M (±1% cap)

NOI $188,790 @ 7.0% cap · market cap 23.02%

Second Best

Self Storage

$1.68M

$1.47M – $1.96M (±1% cap)

NOI $117,857 @ 7.0% cap · market cap 14.37%

Theoretical Best

Specialty Retail

$4.06M

$3.55M – $4.74M (±1% cap)

NOI $284,120 @ 7.0% cap · market cap 34.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

U-Haul Neighborhood Dealer Car Rental Facility Happy Cars Detailing ... Car Wash Happy Cars Detailing Car Wash

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Spa & Massage Center Nail Salon Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

90

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

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 Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - M-2 zoning and city utilities support industrial operations, with storage units providing an additional property component.

Where is this flex space located?

The property is located at 1712 E Jefferson Ave La Porte, IN.

What is the asking price?

The asking price for this property is $820,000.

What are key features of this property?

This property features: 2.25‑acre property with flex space and two self‑storage buildings; 4,000‑square‑foot flex building with a 400‑square‑foot heated and cooled office; 50 storage units, each measuring 10X20