Three-Story Downtown Office
717 Michigan Avenue La Porte, IN 46350
For Sale
$625,000
Three-story commercial building with elevator service and a 2,312 SF third-floor open-concept creative space.
Property Size2,312 SF
Price / SF$270.33
Days on Market17
Property Features for 717 Michigan Avenue
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Mixed Use
Building Details
Year Built
1889
Listing Agency:
(574) 806-0117
Listed By:
Blackrock Real Estate Services
(574) 806-0117
Source:
Xome
Added: Jul 13
Changed: Jul 26
Last Checked: Jul 29 at 4:31AM
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 Blackrock Real Estate Services
Investment Insights
Based on property information with market context.
This iconic three-story commercial building totals approximately 20,868 SF and is described as well-maintained. The property includes fully leased space on the first floor to long-term tenants and the seller’s accounting firm on the second floor. The third floor is currently presented as an expansive 2,312 SF open-concept area with dramatic 20-foot ceilings, hardwood flooring, oversized windows, and abundant natural light, complemented by three additional rooms. A leased apartment on the third floor is accessible by elevator and stairwell.
An elevator serves all floors and is professionally inspected and maintained annually. The full basement provides storage and includes its own exterior access opening, which the listing describes as supporting potential adaptive reuse ideas subject to approvals.
The building is positioned in historic downtown LaPorte with immediate access to Highway 35/39 and State Road 2, and the listing notes eligibility for the Urban Enterprise Grant Program. A full rent roll document is available in the document section.
An elevator serves all floors and is professionally inspected and maintained annually. The full basement provides storage and includes its own exterior access opening, which the listing describes as supporting potential adaptive reuse ideas subject to approvals.
The building is positioned in historic downtown LaPorte with immediate access to Highway 35/39 and State Road 2, and the listing notes eligibility for the Urban Enterprise Grant Program. A full rent roll document is available in the document section.
Key Highlights
- Iconic three‑story commercial building totaling approx. 20,868 SF in historic downtown LaPorte
- 3rd‑floor lease space totals 2,312 SF with an open‑concept layout and dramatic 20‑foot ceilings
- Elevator services all floors; elevator is professionally inspected and maintained annually
Financial Insights For Office B
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 | $34.7k | $15.00 |
| − Vacancy | −$3.2k | −$1.38 |
| EGI | $31.5k | $13.62 |
| − OpEx | −$7.9k | −$3.41 |
| NOI | $23.6k | $10.22 |
2,312 SF · lease $15.00/SF/yr · vacancy 9.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$337.4K
$295.2K – $393.6K
NOI $23,617 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$642.7K
$562.4K – $749.9K
NOI $44,992 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Three-story commercial building with elevator service and a 2,312 SF third-floor open-concept creative space.
Where is this office building located?
The property is located at 717 Michigan Avenue La Porte, IN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Iconic three‑story commercial building totaling approx. 20,868 SF in historic downtown LaPorte; 3rd‑floor lease space totals 2,312 SF with an open‑concept layout and dramatic 20‑foot ceilings; Elevator services all floors; elevator is professionally inspected and maintained annually
