903 E Lincolnway, La Porte, IN 46350

Building Details

Year Built 1947 More

Buildings 2 More

Tenancy Single More

Listing Agency: RE/MAX Diamond Properties

Listed By: Liliana Guzman Show Phone

Source: Jason.northwestindianahomelistings

Added: Oct 14 Changed: Nov 8 Last Checked: Nov 8 at 3:37PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 3,264-square-foot storefront property in La Porte includes a main building and a separate warehouse behind it. Built in 1947, the property has a long-term shop tenant who would like to remain in place.

The rear warehouse was previously used for auto detailing. Its inclusion provides a second commercial space alongside the occupied storefront.

Key Highlights

• 3,264‑square‑foot storefront property with a separate rear warehouse
• Long‑term shop tenant would like to continue operating at the property
• Rear warehouse previously used for auto detailing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,082

Cap Rate

6.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$301,640 $301.6K

Cap Rate 7%

$215,457 $215.5K

Cap Rate 9%

$167,578 $167.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,264 SF

Gross rent

$19.6K $6.00/SF

− Vacancy

−$1.8K −$0.56/SF

EGI

$17.7K $5.44/SF

− OpEx

−$2.7K −$0.82/SF

NOI

$15.1K $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 Rate 5%

$301,640

Cap Rate 7%

$215,457

Cap Rate 9%

$167,578

Alternative Uses

Best Use

Retail

$439.1K

$384.3K – $512.3K (±1% cap)

NOI $30,740 @ 7.0% cap · market cap 12.35%

Second Best

Warehouse

$215.5K

$188.5K – $251.4K (±1% cap)

NOI $15,082 @ 7.0% cap · market cap 6.06%

Theoretical Best

Specialty Retail

$907.4K

$794.0K – $1.06M (±1% cap)

NOI $63,518 @ 7.0% cap · market cap 25.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

La Lomita Fresh ... Grocery & Convenience Store

Suggested Use

Top Pick Dental Office Law Firm Real Estate Agency Nail Salon Spa & Massage Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,270

Businesses Nearby

Under-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 Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - An established shop tenant occupies the storefront, with a separate warehouse included behind the main building.

Where is this storefront property located?

The property is located at 903 E Lincolnway La Porte, IN.

What is the asking price?

The asking price for this property is $249,000.

What are key features of this property?

This property features: 3,264‑square‑foot storefront property with a separate rear warehouse; Long‑term shop tenant would like to continue operating at the property; Rear warehouse previously used for auto detailing