Mixed-Use Property with
2593 Hamstrom Road, Portage, IN 46368
For Sale
$425,000
Pending
Commercial Sale, Portage, IN
Property Size3,360 SF
Lot Size0.43 Acres
Days on Market47
Property Features for 2593 Hamstrom Road
General Information
Property type
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Parking
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
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Water source
Building Details
Year built
Buildings
Listing Agency:
The Chatwell Group Real Estate
Listed By:
Jason Chatwell · License IN RB14045111
(219) 465-8819
Added: Sep 25
Changed: Oct 25
Last Checked: Nov 10 at 11:06AM
MLS# 845929
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.
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Investment Insights
Based on property information with market context.
The 3,360-square-foot commercial building combines a reception area, six private offices, warehouse space and storage rooms. The warehouse has ceilings of approximately 12 feet, an overhead garage door and a separate oversized man door; additional storage is available in the attic. A 988-square-foot ranch home with three bedrooms and one bathroom is also part of the property. The site measures 0.427 acres and includes a parking lot. Commercial Mixed zoning applies.
The property is across from two gas stations and near Founders Square in Portage. Public water and public sewer serve the site. The commercial building was built in 1959.
The property is across from two gas stations and near Founders Square in Portage. Public water and public sewer serve the site. The commercial building was built in 1959.
Key Highlights
- 3,360‑square‑foot commercial building with reception area and six private offices
- Warehouse ceilings are approximately 12 feet, with an overhead garage door and oversized man door
- Separate 988‑square‑foot ranch home with 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,794
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,880
$615.9K
Cap Rate 7%
$439,914
$439.9K
Cap Rate 9%
$342,156
$342.2K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$52.4K $15.60/SF
− Vacancy
−$3.1K −$0.94/SF
EGI
$49.3K $14.66/SF
− OpEx
−$18.5K −$5.50/SF
NOI
$30.8K $9.17/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,880
Cap Rate 7%
$439,914
Cap Rate 9%
$342,156
Alternative Uses
Best Use
Mixed Use
$439.9K
$384.9K – $513.2K
NOI $30,794 @ 7.0% cap · market cap 7.25%
Second Best
Warehouse
$231.6K
$202.7K – $270.2K
NOI $16,212 @ 7.0% cap · market cap 3.81%
Theoretical Best
Healthcare Medical
$1.27M
$1.11M – $1.49M
NOI $89,143 @ 7.0% cap · market cap 20.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
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Business Placement
Demographics for 46368, IN
39,837
Population
16,870
Households
2.4
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
1,575
Density / Sq Mi
$72,638
Median Household Income
$42,508
Median Earnings
$1,140
Median Rent
$213,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and warehouse space is paired with a separate ranch home on the same parcel.
Where is this mixed-use property located?
The property is located at 2593 Hamstrom Road Portage, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,360‑square‑foot commercial building with reception area and six private offices; Warehouse ceilings are approximately 12 feet, with an overhead garage door and oversized man door; Separate 988‑square‑foot ranch home with 3 bedrooms and 1 bathroom
