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    La Porte Commercial Space Available Title is generated by Realmo AI

    416 Perry Street, La Porte, IN 46350

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    For Lease
    $2,150/Mo $14 SF/Yr (calc)

    COMMERCIAL - La Porte, IN

    Type:Office
    Property size:
    1,728 SF
    Lot size:
    1.28 Acres
    Added:
    Sep 23, 2025
    Days on Market:
    234
    Last Refresh:
    May 14 at 4:06 pm

    Property Features for 416 Perry Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Exterior features
    Lighting, Rain Gutters
    Standard status
    Active
    Size
    1,728 SF
    Lot size
    1.28 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Legal Description: 05-06-35-402-009 WILSONS 2ND ADD PT LTS 114-116 1.28 AC

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Jari Troth

    Listing agent Jari Troth License #RB14044667

    Listing office MTM Realty Group 513 Pine Lake Ave, LaPorte, IN

    Listing date Sep 23, 2025

    MLS# 828261

    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.

    HighLights

    • High‑visibility location with strong exposure and an AADT of 22,295 vehicles.
    • Located across from Kroger's Shopping Plaza, offering significant business opportunities.
    • Ample parking and signage available.
    • Convenient access from Pine Lake Ave and Lincolnway.
    • Existing layout includes a welcoming reception area, offices, storage, utility room, and 2 restrooms.
    • Opportunity to lease an additional 1150 Sq Ft unit next door.

    Overview

    Located in Lakeside Plaza, this 1728 square foot commercial unit offers business opportunities in a high-traffic area. Situated across from Kroger's Shopping Plaza, the property benefits from strong exposure and an Annual Average Daily Traffic (AADT) of 22,295 vehicles, per INDOT. The unit features a welcoming reception area, offices, a storage area, a utility room, and two restrooms. The space is tastefully painted and includes flooring with commercial carpet in good condition. Ample parking and signage opportunities are available. The property is conveniently located off Pine Lake Avenue from the South and Lincolnway from the North, with high visibility to traffic using the overpass in and out of downtown La Porte. The unit is currently used as a DOT drug testing & fingerprinting facility. An additional 1150 square feet may be available next door for those interested in leasing more space. The property is located in La Porte, IN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Figment Group Drug Testing Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    La Porte
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.728035
    Latitude
    41.612995

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    FAQs

    What type of property is this?
    Office units - 1728 SF commercial space in Lakeside Plaza, La Porte.
    Where is this office units located?
    The property is located at 416 Perry Street La Porte, IN.
    What is the lease rate?
    The lease rate is $2,150 /Mo.
    What are key features of this property?
    This property features: High‑visibility location with **strong exposure and an AADT of 22,295 vehicles.**; Located across from Kroger's Shopping Plaza, **offering significant business opportunities.**; Ample parking and signage available.
    (219) 363-9203
    We can help!
    Listing Contact
    Jari Troth
    Real Estate License ID: RB14044667
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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