Medical Office Building with Exam
For Sale
$1,500,000
311 Boyd Blvd La, La Porte, IN 46350
All-brick medical office property with an existing clinical layout, reception area, conference room, staff amenities, and extensive support spaces.
Property Size13,049 SF
Lot Size1.30 Acres
Price / SF$114.95
Days on Market194
Property Features for 311 Boyd Blvd La
General Information
Standard status
Active
Size
13,049 SF
Class
C
Lot size
1.30 Acres
Property subtype
Multi Tenant Office
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Sprinkler System
Yes
Building Details
Building Size
13,049 SF
Year Built
1996
Buildings
1
Construction
brick
Tenancy
Single
Listing Agency:
Commercial In-Sites
(219) 795-1100
Listed By:
David Lasser
(219) 795-1100
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 8:16PM
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 Commercial In-Sites
Investment Insights
Based on property information with market context.
This 13,049 SF all-brick medical office building was constructed in 1996 and is fully sprinklered. The existing layout includes 27 office/exam rooms, a reception and waiting area, conference room, private and communal bathrooms, break area, staff lounge, locker room, file room, closets, and mechanical and electrical rooms. The building has one main entrance and 2 man doors, with a configuration that can support continued medical office use or conversion to multi-tenant occupancy.
Positioned on a 1.3-acre, two-parcel Walmart out lot, the property fronts Lincolnway/S.R. 2 while carrying a Boyd Boulevard address. The surrounding Walmart Super Store anchored center includes nearby retail, restaurant, automotive, telecommunications, and nonprofit users. 2024 INDOT traffic counts were 18,582 cars/day. La Porte Municipal Airport is 3 miles south of downtown, and the South Shore Train Station is 19 minutes north of La Porte.
Positioned on a 1.3-acre, two-parcel Walmart out lot, the property fronts Lincolnway/S.R. 2 while carrying a Boyd Boulevard address. The surrounding Walmart Super Store anchored center includes nearby retail, restaurant, automotive, telecommunications, and nonprofit users. 2024 INDOT traffic counts were 18,582 cars/day. La Porte Municipal Airport is 3 miles south of downtown, and the South Shore Train Station is 19 minutes north of La Porte.
Key Highlights
- 13,049 SF fully sprinklered medical office building constructed in 1996
- 27 office/exam rooms with reception, waiting, conference, and staff areas
- All‑brick building with one main entrance and 2 man doors
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
$133,296
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
8.89%
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%
$2,665,920
$2.7M
Cap Rate 7%
$1,904,229
$1.9M
Cap Rate 9%
$1,481,067
$1.5M
Market Conditions
NOI Build-Up for 13,049 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
$195.7K $15.00/SF
− Vacancy
−$18.0K −$1.38/SF
EGI
$177.7K $13.62/SF
− OpEx
−$44.4K −$3.41/SF
NOI
$133.3K $10.22/SF
Area
LaPorte County, IN
Vacancy
9.20%
Lease Rate
$15.00 /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%
$2,665,920
Cap Rate 7%
$1,904,229
Cap Rate 9%
$1,481,067
Alternative Uses
Best Use
Healthcare Medical
$2.25M
$1.97M – $2.63M
NOI $157,784 @ 7.0% cap · market cap 10.52%
Second Best
Office B
$1.90M
$1.67M – $2.22M
NOI $133,296 @ 7.0% cap · market cap 8.89%
Theoretical Best
Specialty Retail
$3.63M
$3.17M – $4.23M
NOI $253,937 @ 7.0% cap · market cap 16.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - All-brick medical office property with an existing clinical layout, reception area, conference room, staff amenities, and extensive support spaces.
Where is this medical office space located?
The property is located at 311 Boyd Blvd La La Porte, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 13,049 SF fully sprinklered medical office building constructed in 1996; 27 office/exam rooms with reception, waiting, conference, and staff areas; All‑brick building with one main entrance and 2 man doors
