Dual-Unit Auto Repair
For Sale
$1,600,000
5843 U.s 6, Portage, IN 46368
Commercial Sale, Portage, IN
Property Size7,374 SF
Lot Size1.86 Acres
Price / SF$216.98
Days on Market145
Property Features for 5843 U.s 6
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
40
Directions
165 north to ridge road, to portage. at the light on the south side.
Standard status
Active
APN
640526201004000016
Size
7,374 SF
Lot size
1.86 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
8 - Portage Corporation -016
Tax Annual Amount
12273
Legal Description
8 - Portage Corporation -016
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
pylon sign
signalized intersection
dual access points
marked parking stalls
large glass storefront windows
ADA restroom
mezzanine storage
independent street entrance
awning
reception area
bay doors
restroom facilities
Building Details
Year built
1990
Listing Agency:
Realest.com
Listed By:
Saso Joveski
(219) 808-1520
Added: May 5
Changed: Aug 19
Last Checked: Sep 26 at 12:06PM
MLS# 838296
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.
Investment Insights
Based on property information with market context.
This 7,374-square-foot auto repair property contains two distinct commercial units on 1.86 acres. Unit One has operated since 1990 and includes a customer waiting area, storefront-facing service counter, manager office, ADA-equipped restroom, multiple drive-through bays, full-height glass garage doors, vehicle lifts, alignment and balancing equipment, diagnostic tools, industrial air service, heating units, and specialty brake and exhaust equipment. Parts inventory, storage, toolboxes, rolling carts, and a mezzanine overlooking the shop floor are included. Forced-air heating, public water, and public sewer serve the property.
The second unit is vacant and independently arranged with its own street entrance, awning, reception area, bay doors, lifts, and restroom facilities. The site is positioned at a signalized intersection on US Highway 6 in Portage, with a pylon sign, marked parking stalls, and two access points. C2 General Commercial zoning is in place, and the property is approximately 30 miles from downtown Chicago with direct access to I-94.
The second unit is vacant and independently arranged with its own street entrance, awning, reception area, bay doors, lifts, and restroom facilities. The site is positioned at a signalized intersection on US Highway 6 in Portage, with a pylon sign, marked parking stalls, and two access points. C2 General Commercial zoning is in place, and the property is approximately 30 miles from downtown Chicago with direct access to I-94.
Key Highlights
- 7,374‑square‑foot auto repair property on 1.86 acres
- Two separate units with independent entrances and shop facilities
- Operating auto and truck repair business established in 1990
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
$103,845
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
6.49%
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%
$2,076,900
$2.1M
Cap Rate 7%
$1,483,500
$1.5M
Cap Rate 9%
$1,153,833
$1.2M
Market Conditions
NOI Build-Up for 7,374 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
$154.9K $21.00/SF
− Vacancy
−$6.5K −$0.88/SF
EGI
$148.4K $20.12/SF
− OpEx
−$44.5K −$6.04/SF
NOI
$103.8K $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%
$2,076,900
Cap Rate 7%
$1,483,500
Cap Rate 9%
$1,153,833
Alternative Uses
Best Use
Retail
$1.48M
$1.30M – $1.73M
NOI $103,845 @ 7.0% cap · market cap 6.49%
Second Best
Industrial
$418.6K
$366.3K – $488.4K
NOI $29,301 @ 7.0% cap · market cap 1.83%
Theoretical Best
Healthcare Medical
$2.79M
$2.45M – $3.26M
NOI $195,636 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
321k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Shops & Services 29%
Dining 27%
Superstores 5%
Meijer
Groceries
82,897 visits/mo
0.4 miles
Dollar Tree
Shops & Services
30,386 visits/mo
0.1 miles
Aldi
Groceries
28,778 visits/mo
0.2 miles
Starbucks
Dining
21,113 visits/mo
0.3 miles
Big Lots
Superstores
17,096 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Walmart Auto Care Centers — 6087 US-6, Portage, IN 46368
- Valvoline Instant Oil Change — 5625 US-6, Portage, IN 46368
- Oil Xperts — 5625 US-6, Portage, IN 46368
- Caliber Collision — 5735 US-6, Portage, IN 46368
- USA Muffler and Brakes Portage, IN — 5859 US-6, Portage, IN 46368
Frequently Asked Questions
What type of property is this?
Auto shop - Two separately configured shop units offer established repair operations and additional commercial space under C2 General Commercial zoning.
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: 7,374‑square‑foot auto repair property on 1.86 acres; Two separate units with independent entrances and shop facilities; Operating auto and truck repair business established in 1990
