Custom-Built Flex
For Sale
$639,000
754 S Forrester Rd, La Porte, IN 46350
Shop, workshop, storage, and residential space occupy a custom-built property with adaptable commercial functionality.
Property Size11,300 SF
Lot Size2.10 Acres
Price / SF$56.55
Days on Market36
Property Features for 754 S Forrester Rd
General Information
Standard status
Active
Size
11,300 SF
Lot size
2.10 Acres
Warehouse & Industrial
Clear Height
14 ft
Clear Span
Yes
Power
320 amps
Three-Phase Power
Yes
Building Details
Year Built
1986
Listing Agency:
Coldwell Banker 1st Choice
(219) 575-2534
Listed By:
Rita Beaty · License #RB14017732
Source:
Amyboston.realtopiare
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 25 at 3:58AM
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 Coldwell Banker 1st Choice
Investment Insights
Based on property information with market context.
This custom-built flex property combines a substantial shop area with workshop, storage, open space, and residential quarters. The shop area measures 9,200 square feet, including a 5,200-square-foot workshop with steel doors, insulated walls, lighting, concrete floors, and floor drains. Ceiling heights range from 14 feet to 10 A1/2 feet, with a 50-foot clear span. The workshop includes two overhead doors and four service doors.
Power includes a 320 amp service and a 100 horsepower three-phase converter. Four furnaces and three air conditioning units serve the property. The residential portion offers 2,000 square feet with two bedrooms, two full baths, a kitchen, dining and living areas, main-floor laundry, and a masonry wood-burning fireplace. A 14-by-50-foot covered porch adds outdoor space. The property contains 2.1 acres at 754 S Forrester Rd in La Porte, Indiana, and was built in 1986.
Power includes a 320 amp service and a 100 horsepower three-phase converter. Four furnaces and three air conditioning units serve the property. The residential portion offers 2,000 square feet with two bedrooms, two full baths, a kitchen, dining and living areas, main-floor laundry, and a masonry wood-burning fireplace. A 14-by-50-foot covered porch adds outdoor space. The property contains 2.1 acres at 754 S Forrester Rd in La Porte, Indiana, and was built in 1986.
Key Highlights
- 9,200‑square‑foot shop area with workshop, storage, open space, and additional functional areas
- 5,200‑square‑foot workshop with a 50‑foot clear span and ceiling heights from 14 feet to 10 A1/2 feet
- Two overhead doors, four service doors, concrete floors, and 4‑6‑inch floor drains in the workshop
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
$52,213
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
8.17%
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%
$1,044,260
$1.0M
Cap Rate 7%
$745,900
$745.9K
Cap Rate 9%
$580,144
$580.1K
Market Conditions
NOI Build-Up for 11,300 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
$67.8K $6.00/SF
− Vacancy
−$6.4K −$0.56/SF
EGI
$61.4K $5.44/SF
− OpEx
−$9.2K −$0.82/SF
NOI
$52.2K $4.62/SF
Area
LaPorte County, IN
Vacancy
9.40%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,044,260
Cap Rate 7%
$745,900
Cap Rate 9%
$580,144
Alternative Uses
Best Use
Flex RnD
$2.09M
$1.83M – $2.44M
NOI $146,118 @ 7.0% cap · market cap 22.87%
Second Best
Office B
$1.65M
$1.44M – $1.92M
NOI $115,430 @ 7.0% cap · market cap 18.06%
Theoretical Best
Specialty Retail
$3.14M
$2.75M – $3.67M
NOI $219,901 @ 7.0% cap · market cap 34.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46350, IN
44,522
Population
19,576
Households
2.3
Avg Household Size
42
Median Age
24%
College-Educated
92%
High-School Grad
193.5 sq mi
ZIP Area
230
Density / Sq Mi
$75,311
Median Household Income
$44,309
Median Earnings
$920
Median Rent
$199,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Shop, workshop, storage, and residential space occupy a custom-built property with adaptable commercial functionality.
Where is this flex space located?
The property is located at 754 S Forrester Rd La Porte, IN.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: 9,200‑square‑foot shop area with workshop, storage, open space, and additional functional areas; 5,200‑square‑foot workshop with a 50‑foot clear span and ceiling heights from 14 feet to 10 A1/2 feet; Two overhead doors, four service doors, concrete floors, and 4‑6‑inch floor drains in the workshop
