Dual-Unit Auto Repair
For Sale
$1,600,000
5843 U.s 6, Portage, IN 46368
COMMERCIAL - Portage, IN
Property Size7,374 SF
Lot Size1.86 Acres
Price / SF$216.98
Days on Market100
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
windowed waiting area
private office
ADA restroom
mezzanine storage
dual access points
independent street entrance
awning
Building Details
Year built
1990
Listing Agency:
Realest.com
(219) 808-1520
Listed By:
Saso Joveski
(219) 808-1520
Added: May 5
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
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. The primary unit operates as a full-service auto and truck repair shop with a customer waiting area, storefront glazing, service counter, manager office, ADA-equipped restroom, multiple drive-through bays, commercial vehicle lifts, alignment and balancing equipment, diagnostic tools, air systems, heating units, and specialized exhaust and brake equipment. Parts inventory, a mezzanine, storage areas, and shop furnishings are included. The second unit is vacant and separately configured with its own entrance, awning, reception area, bay doors, lifts, and restroom. C2 General Commercial zoning and conforming permitted use are in place without variances.
The property fronts US Highway 6 in Portage at a signalized intersection, with a pylon sign, marked parking, and two access points. Public water and public sewer serve the site. Direct I-94 access places the property approximately 30 miles from downtown Chicago. Built in 1990, the facility has a documented operating history dating back more than 35 years.
The property fronts US Highway 6 in Portage at a signalized intersection, with a pylon sign, marked parking, and two access points. Public water and public sewer serve the site. Direct I-94 access places the property approximately 30 miles from downtown Chicago. Built in 1990, the facility has a documented operating history dating back more than 35 years.
Key Highlights
- 7,374 SF auto repair facility on 1.86 acres
- Two separate units, including a vacant unit with independent entrance and shop features
- Primary shop includes vehicle lifts, alignment equipment, diagnostic tools, and parts inventory
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
Property Profile
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
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.
Similar Off Market Nearby
- USA Muffler and Brakes Portage, IN — 5859 US-6, Portage, IN 46368
- Caliber Collision — 5735 US-6, Portage, IN 46368
- 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
Frequently Asked Questions
What type of property is this?
Auto shop - Two separate commercial units offer an established repair operation and additional space for leasing or business expansion.
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 SF auto repair facility on 1.86 acres; Two separate units, including a vacant unit with independent entrance and shop features; Primary shop includes vehicle lifts, alignment equipment, diagnostic tools, and parts inventory
