Medical Office Building For
6200 Central Ave, Portage, IN 46368
Medical office building with long-term tenant commitment through October 2030.
Type:Office
Property size:
4,701 SFPrice / SF:
$372/SF- Added:
- Mar 24, 2026
- Days on Market:
- 96
- Last Refresh:
- Mar 25 at 8:54 pm
Property Features for 6200 Central Ave
General Information
- Standard status
- Active
- Size
- 4,701 SF
- Property subtype
- Office
Listing office Greenstone Partners
Listing date Mar 24, 2026
Source Crexi
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 Greenstone Partners
HighLights
- Long‑term tenant (Northwest Medical Group) with lease through October 2030 and renewal options, ensuring secure cash flow.
- Rental escalations of 2% per annum, ensuring increasing returns.
- Located within a dominant regional healthcare network (Northwest Health) serving over 700,000 people.
- Strong medical office fundamentals with demand outpacing supply.
- Strategic location in Portage, a major medical hub, with easy access to major transportation routes.
- Indiana's business‑friendly environment with lower real estate taxes compared to Illinois.
Overview
This property features a medical office building that was completely re-developed to Northwest Medical Group’s specifications in 2020. The tenant has a 10-year lease commitment through October of 2030, with three, five-year options. Rental escalations are set at 2% per annum. Northwest Medical Group is a regional healthcare network comprised of three hospitals and more than 30 physician office locations across Northwest Indiana. Northwest Health serves over 700,000 people within the region. The Northwest Health network includes five emergency departments, six urgent cares, three outpatient surgery centers, occupational medicine centers, and an inpatient rehabilitation unit. Northwest Health possesses more than 4,000 employees and 700 physicians. Portage serves as a major medical hub for the region, near Porter County’s Regency and Northwest Health Hospitals. The property is located 0.7 miles south of Interstate 80/90 and 2.2 miles north of U.S. Route 6. The South Shore Line commuter rail is just 4 miles north of the property. Positioned on Central Avenue, east of Willowcreek Road, the location offers a variety of restaurant options, as well as neighboring businesses such as Walgreens, Family Dollar, and Strack & Van Til. The property is located 23 miles east of the Indiana/Illinois border. The property features demographics including an average household income of nearly $80,000 and a median home value of $181,000+ within three miles. The population within three miles has experienced 16% growth since 2000. The property size is 4701 square feet.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $221.1k | $47.04 |
| − Vacancy | −$13.3k | −$2.82 |
| EGI | $207.9k | $44.22 |
| − OpEx | −$83.1k | −$17.69 |
| NOI | $124.7k | $26.53 |
4,701 SF · lease $47.04/SF/yr · vacancy 6.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.78M
$1.56M – $2.08M
NOI $124,720 @ 7.0% cap · market cap 7.13%
Second Best
Office B
$806.8K
$705.9K – $941.2K
NOI $56,474 @ 7.0% cap · market cap 3.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Northwest Medical Group ...
Medical Clinic
Shaun Mehdi, DO
Physician
Shazia Shivji, MD
Physician
Leonard Ostrowski, M.D.
Pediatrician
Amy Sobas, F.N.P.
Pediatrician
Location Insight
- Map
- Local Demand
- City
- Portage
- County
- Porter
- State
- Indiana
- Longitude
- -87.173864
- Latitude
- 41.576555
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Medical office building with long-term tenant commitment through October 2030.
Where is this medical office space located?
The property is located at 6200 Central Ave Portage, IN.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Long‑term tenant (Northwest Medical Group) with lease through October 2030 and renewal options, ensuring secure cash flow.; Rental escalations of 2% per annum, ensuring increasing returns.; Located within a dominant regional healthcare network (Northwest Health) serving over 700,000 people.
