Building Details

Year Built 1936

Buildings 1

Construction brick

Listing Agency: LaPorte County Realty, Inc.

Listed By: Bryon Eigenmann Show Phone

Source: Realtopiare

Added: Jul 20 Changed: Sep 25 Last Checked: Oct 7 at 12:58PM

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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 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.

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 / Yr

$19,988

Cap Rate

8.36%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $19,988 @ 7.0% cap · market cap 8.36%

Second Best

Office B

$241.2K

$211.1K – $281.4K (±1% cap)

NOI $16,885 @ 7.0% cap · market cap 7.06%

Theoretical Best

Specialty Retail

$459.5K

$402.1K – $536.1K (±1% cap)

NOI $32,168 @ 7.0% cap · market cap 13.46%

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

Property Analytics

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Current Use

Pine Lake Pediatrics ... Pediatrician Sergiwa Adam MD Pediatrician

Suggested Use

Top Pick Parking Lot & Garage Bakery (Bike/Boat/Book/etc) Store Acupuncture Skin Care Clinic Veterinary Clinic

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

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 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 medical office 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?

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 $239,000.

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