Dual-Unit Auto Repair
For Sale
Contact for pricing
5843 U.S 6, Portage, IN 46368
C2 General Commercial property with separate customer areas, service bays, and a second street-accessed storefront.
Property Size7,343 SF
Price / SF$217.89
Days on Market120
Property Features for 5843 U.S 6
General Information
Standard status
Active
Size
7,343 SF
Class
A
Total Parking Spaces
40
Property subtype
Retail
Zoning
General C2
Property Condition
Severity
Repairs Needed
Evidence
Cosmetic work is needed
Additional Details
Asking Price
$1,600,000
Road Access
Yes
Amenities
mezzanine level
pylon sign
ADA restroom
Building Details
Year Built
1990
Buildings
1
Units
40
Construction
masonry
Abandoned
No
Listing Agency:
Realest.com
Listed By:
Sash Joveski · License #IN 12192
Source:
Crexi
Added: May 5
Changed: Aug 30
Last Checked: Aug 31 at 7:40PM
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 Realest.com
Investment Insights
Based on property information with market context.
This 7,343-square-foot auto repair property includes two distinct commercial units on a corner parcel. The primary unit has a customer waiting area, service counter, private office, ADA restroom, multiple drive-through bays, commercial vehicle lifts, alignment and diagnostic equipment, wheel service machinery, parts storage, and a mezzanine above the shop floor. Equipment, tools, fixtures, inventory, and operational supplies transfer with the sale. The second unit has its own entrance, reception area, bay doors, lifts, restroom, plumbing, and electrical service; cosmetic improvements are needed in portions of the space.
The property fronts U.S. 6 at a signalized intersection and includes a pylon sign, marked parking, and dual access points. It is approximately 30 miles from downtown Chicago, with access to I-94, the Indiana Toll Road, and I-65. Built in 1990, the facility carries General C2 zoning and has supported an operating auto repair business since that year.
The property fronts U.S. 6 at a signalized intersection and includes a pylon sign, marked parking, and dual access points. It is approximately 30 miles from downtown Chicago, with access to I-94, the Indiana Toll Road, and I-65. Built in 1990, the facility carries General C2 zoning and has supported an operating auto repair business since that year.
Key Highlights
- 7,343 SF dual‑unit auto repair facility built in 1990
- Primary unit includes multiple drive‑through bays, commercial lifts, alignment equipment, and diagnostic tools
- Separate second unit has its own entrance, bays, lifts, restroom, plumbing, and electrical service
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
$103,409
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
6.46%
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%
$2,068,180
$2.1M
Cap Rate 7%
$1,477,271
$1.5M
Cap Rate 9%
$1,148,989
$1.1M
Market Conditions
NOI Build-Up for 7,343 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
$154.2K $21.00/SF
− Vacancy
−$6.5K −$0.88/SF
EGI
$147.7K $20.12/SF
− OpEx
−$44.3K −$6.04/SF
NOI
$103.4K $14.08/SF
Area
Porter County, IN
Vacancy
4.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,068,180
Cap Rate 7%
$1,477,271
Cap Rate 9%
$1,148,989
Alternative Uses
Best Use
Retail
$1.48M
$1.29M – $1.72M
NOI $103,409 @ 7.0% cap · market cap 6.46%
Second Best
Industrial
$416.8K
$364.7K – $486.3K
NOI $29,178 @ 7.0% cap · market cap 1.82%
Theoretical Best
Healthcare Medical
$2.78M
$2.44M – $3.25M
NOI $194,814 @ 7.0% cap · market cap 12.18%
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
158
Businesses Nearby
Well-served
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - C2 General Commercial property with separate customer areas, service bays, and a second street-accessed storefront.
Where is this auto shop located?
The property is located at 5843 U.S 6 Portage, IN.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 7,343 SF dual‑unit auto repair facility built in 1990; Primary unit includes multiple drive‑through bays, commercial lifts, alignment equipment, and diagnostic tools; Separate second unit has its own entrance, bays, lifts, restroom, plumbing, and electrical service
