Office Building with
For Sale
$850,000
3060 Willowcreek Rd, Portage, IN 46368
C1-zoned office property with flexible access, dedicated parking, and a partially finished basement.
Property Size3,290 SF
Price / SF$258.36
Days on Market11
Property Features for 3060 Willowcreek Rd
General Information
Standard status
Active
Size
3,290 SF
Total Parking Spaces
12
Property subtype
Commercial
Zoning
C1
Additional Details
Road Access
Yes
Amenities
waiting room/lobby
conference room
lunch room
kitchenette
handicapped accessible bathroom
front covered porch
back porch
natural gas grill
private wooded backyard
public walking trail
storage shed
bricked and lighted display
handicap ramp
Building Details
Year Built
1957
Buildings
1
Construction
brick
Listing Agency:
Envision Real Estate Services,
Listed By:
Saba Mohammed
(219) 588-5092
Source:
Nwindianahomesearcher
Added: Aug 23
Changed: Sep 1
Last Checked: Aug 28 at 9:54AM
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 Envision Real Estate Services,
Investment Insights
Based on property information with market context.
This brick office building is configured for professional operations across the main level, with a welcoming entry, lobby, conference room, lunch room, kitchenette with sink and cabinetry, five offices, and a handicap-accessible bathroom. The office area includes a separate entrance and covered front porch, while the garage can be reached from inside the building or through its overhead door. A full and partially finished basement provides additional area, with interior and exterior access.
The property includes 270 feet of frontage, a lighted brick display feature for business advertising, and a 12-space parking lot with 2 designated handicapped spaces beside a ramp with railing. A rear porch with an attached natural gas grill opens to a private wooded backyard that abuts a public walking trail. Additional site features include a storage shed and C1 zoning.
The property includes 270 feet of frontage, a lighted brick display feature for business advertising, and a 12-space parking lot with 2 designated handicapped spaces beside a ramp with railing. A rear porch with an attached natural gas grill opens to a private wooded backyard that abuts a public walking trail. Additional site features include a storage shed and C1 zoning.
Key Highlights
- 270 feet of frontage on Willow Creek Road
- C1 zoning
- 12‑space parking lot, including 2 designated handicapped spaces
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
$39,523
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
4.65%
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%
$790,460
$790.5K
Cap Rate 7%
$564,614
$564.6K
Cap Rate 9%
$439,144
$439.1K
Market Conditions
NOI Build-Up for 3,290 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
$56.1K $17.04/SF
− Vacancy
−$3.4K −$1.02/SF
EGI
$52.7K $16.02/SF
− OpEx
−$13.2K −$4.00/SF
NOI
$39.5K $12.01/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$790,460
Cap Rate 7%
$564,614
Cap Rate 9%
$439,144
Alternative Uses
Best Use
Office B
$564.6K
$494.0K – $658.7K
NOI $39,523 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.25M
$1.09M – $1.45M
NOI $87,286 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - C1-zoned office property with flexible access, dedicated parking, and a partially finished basement.
Where is this office building located?
The property is located at 3060 Willowcreek Rd Portage, IN.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 270 feet of frontage on Willow Creek Road; C1 zoning; 12‑space parking lot, including 2 designated handicapped spaces
