All-Brick Medical Office
For Sale
$295,000
414 Lincolnway, La Porte, IN 46350
Multi-office layout with reception, waiting space, and front parking supports professional office use.
Property Size1,653 SF
Price / SF$178.46
Days on Market42
Property Features for 414 Lincolnway
General Information
Standard status
Active
Size
1,653 SF
Additional Details
Office Units
6
Building Details
Year Built
1936
Buildings
1
Construction
brick
Listing Agency:
LaPorte County Realty, Inc.
(219) 324-4600
Listed By:
Bryon Eigenmann
Source:
Realtopiare
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:21AM
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 LaPorte County Realty, Inc.
Investment Insights
Based on property information with market context.
This 1,653-square-foot medical office building was constructed in 1936 with an all-brick exterior. The interior includes six offices along with reception and waiting areas, providing a practical layout for professional operations. The property’s most recent use was as a doctor’s office, following an earlier period as an insurance office.
Located on Lincolnway in La Porte, the building has parking at the front. The grass area behind the building provides room for additional parking expansion, subject to applicable approvals. Its established office configuration and medical-office history offer a clear starting point for continued professional use.
Located on Lincolnway in La Porte, the building has parking at the front. The grass area behind the building provides room for additional parking expansion, subject to applicable approvals. Its established office configuration and medical-office history offer a clear starting point for continued professional use.
Key Highlights
- 1,653‑square‑foot medical office building constructed in 1936
- All‑brick building exterior
- Six offices with reception and waiting areas
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
$19,988
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
6.78%
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%
$399,760
$399.8K
Cap Rate 7%
$285,543
$285.5K
Cap Rate 9%
$222,089
$222.1K
Market Conditions
NOI Build-Up for 1,653 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
$35.7K $21.60/SF
− Vacancy
−$2.4K −$1.45/SF
EGI
$33.3K $20.15/SF
− OpEx
−$13.3K −$8.06/SF
NOI
$20.0K $12.09/SF
Area
LaPorte County, IN
Vacancy
6.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$399,760
Cap Rate 7%
$285,543
Cap Rate 9%
$222,089
Alternative Uses
Best Use
Healthcare Medical
$285.5K
$249.9K – $333.1K
NOI $19,988 @ 7.0% cap · market cap 6.78%
Second Best
Office B
$241.2K
$211.1K – $281.4K
NOI $16,885 @ 7.0% cap · market cap 5.72%
Theoretical Best
Specialty Retail
$459.5K
$402.1K – $536.1K
NOI $32,168 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
1,024
Businesses Nearby
Under-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- PetVet Wellness Center — 71 Pine Lake Ave, La Porte, IN 46350
Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-office layout with reception, waiting space, and front parking supports professional office use.
Where is this medical office space located?
The property is located at 414 Lincolnway La Porte, IN.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,653‑square‑foot medical office building constructed in 1936; All‑brick building exterior; Six offices with reception and waiting areas
