Mixed-Use Property with
For Sale
$595,000
754 S Forrester Road, La Porte, IN 46350
Commercial Sale, La Porte, IN
Property Size11,300 SF
Lot Size2.10 Acres
Price / SF$52.65
Days on Market116
Property Features for 754 S Forrester Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Agriculture
Parking
6
Parking features
Garage, Driveway, Off Street
Interior features
Ceiling Fan(s), Open Floorplan, Kitchen Island
Exterior features
Storage
Appliances
Microwave, Refrigerator, Range
Lot features
Few Trees, Rectangular Lot, Landscaped, Front Yard
Elementary school district
La Porte
Middle school district
La Porte
High school district
La Porte
Directions
Hwy 2 west to 100 S north to Forrester to property.
Standard status
Active
APN
461006300021000060
Size
11,300 SF
Lot size
2.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Legal Description: 62-10-06-300-021 PCE SE PT NW 1/4 SW 1/4 S6 T36 R3 2.10 AC
Tax Annual Amount
1835
Legal Description
Legal Description: 62-10-06-300-021 PCE SE PT NW 1/4 SW 1/4 S6 T36 R3 2.10 AC
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Water source
Well
Building Details
Year built
1986
Additional Structures
Storage
Listing Agency:
Coldwell Banker 1st Choice · Coldwell Banker Real Estate
(219) 324-2121
Listed By:
Rita Beaty · License #RB14017732
(219) 575-2534
Added: Apr 27
Changed: Aug 19
Last Checked: Aug 20 at 11:06PM
MLS# 840725
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 custom-built mixed-use property provides 11,300 square feet on 2.1 acres, combining commercial, workshop, storage, and residential components. The shop area measures 9,200 square feet, including a 5,200-square-foot workshop with steel doors, insulated walls, concrete floors, floor drains, and a 50-foot-wide clear span. Ceiling heights range from 14 feet to 10 1/2 feet. Two overhead doors, four service doors, four furnaces, three air-conditioning units, and a 320-amp system with a 100-horsepower three-phase converter support varied operations.
The personal portion includes 2,000 square feet of living space with a kitchen, dining area, living room, main-floor laundry, two bedrooms, and two full baths. Additional features include a masonry wood-burning fireplace, kitchen island, storage areas, and a 14-by-50-foot covered porch. The property is served by a well and septic tank and includes garage, driveway, and off-street parking. Built in 1986, it is located at 754 S Forrester Road in La Porte, Indiana.
The personal portion includes 2,000 square feet of living space with a kitchen, dining area, living room, main-floor laundry, two bedrooms, and two full baths. Additional features include a masonry wood-burning fireplace, kitchen island, storage areas, and a 14-by-50-foot covered porch. The property is served by a well and septic tank and includes garage, driveway, and off-street parking. Built in 1986, it is located at 754 S Forrester Road in La Porte, Indiana.
Key Highlights
- 11,300‑square‑foot mixed‑use property on 2.1 acres
- 9,200‑square‑foot shop area with a 5,200‑square‑foot workshop
- Workshop offers a 50‑foot‑wide clear span and ceiling heights from 14 feet to 10 1/2 feet
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
$42,999
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
7.23%
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%
$859,980
$860.0K
Cap Rate 7%
$614,271
$614.3K
Cap Rate 9%
$477,767
$477.8K
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
−$18.4K −$1.63/SF
NOI
$43.0K $3.81/SF
Area
LaPorte County, IN
Vacancy
9.40%
Lease Rate
$6.00 /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%
$859,980
Cap Rate 7%
$614,271
Cap Rate 9%
$477,767
Alternative Uses
Best Use
Flex RnD
$2.09M
$1.83M – $2.44M
NOI $146,118 @ 7.0% cap · market cap 24.56%
Second Best
Office B
$1.65M
$1.44M – $1.92M
NOI $115,430 @ 7.0% cap · market cap 19.40%
Theoretical Best
Specialty Retail
$3.14M
$2.75M – $3.67M
NOI $219,901 @ 7.0% cap · market cap 36.96%
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
8
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Custom-built property combines flexible commercial space, residential quarters, storage, and substantial utility capacity on a rural-served site.
Where is this mixed-use property located?
The property is located at 754 S Forrester Road La Porte, IN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 11,300‑square‑foot mixed‑use property on 2.1 acres; 9,200‑square‑foot shop area with a 5,200‑square‑foot workshop; Workshop offers a 50‑foot‑wide clear span and ceiling heights from 14 feet to 10 1/2 feet
