Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    523 Grove St La Porte, IN 46350

    • Commercial real estate
    • 1,940 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2067438
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 523 Grove St

    Year built
    1910
    Property size
    1,940 SF
    Property type
    Commercial real estate

    Description

    This charming two-unit apartment building, located at 523 Grove Street in La Porte, Indiana, presents a compelling investment opportunity. Built in 1910, this 1,940 square foot duplex sits on a 5,600 square foot lot and features two one-bedroom, one-bathroom units. Currently, one unit is occupied, generating $600 in monthly income with a lease expiring February 28, 2025. The other unit is vacant. Market rents in the area average $1,400 per month per unit, indicating significant potential for increased cash flow. The asking price is $134,000, or $67,000 per unit. This property is situated in a desirable La Porte neighborhood, making it an ideal investment for those seeking to capitalize on strong rental demand. The building is a two-story structure, offering a solid foundation for future growth and income generation. This is a rare opportunity to acquire a well-located, income-producing property in a thriving market. The property's size and location provide excellent potential for long-term appreciation. Don't miss this chance to add a valuable asset to your portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    La Porte
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.708566255588
    Latitude
    41.61808161699

    Comparable in this City

    • $399,900
      0.06 Acres

      Turnkey Restaurant with Upstairs Apartment

      Updated restaurant with apartment in booming Northwest Indiana.
      518 Lincolnway Way, La Porte, IN 46350
      View Details
    • Contact for pricing
      26.04 Acres

      Wagner Estates: 26 Acres

      Prime La Porte residential land, ideal for development.
      0 Wagner Rd, La Porte, IN 46350
      View Details
    • Contact for pricing
      1.21 Acres

      La Porte Residential Land - 1.21 Acres

      Prime 1.21-acre residential lot
      0 Apple Orchard Ln, La Porte, IN 46350
      View Details
    • $1,624,000
      56.31 Acres

      Prime La Porte Residential Land

      56 Acres, New Prairie Schools, I-80/90 Access
      4755 Range Rd, La Porte, IN 46350
      View Details
    • $649,900

      Luxury Lakeside Townhome with Upgrades

      Nearly new townhome with lake views, high-end finishes, and modern amenities.
      169 W Mcclung Rd, La Porte, IN 46350
      View Details
    • $700,000
      15.94 Acres

      Prime La Porte Commercial Land

      16 Acres, B2 Zoning, High Traffic
      4534 Us Highway 20, La Porte, IN 46350
      View Details

    Similar Nearby for Sale

    • $399,900
      0.06 Acres

      Turnkey Restaurant with Upstairs Apartment

      Updated restaurant with apartment in booming Northwest Indiana.
      518 Lincolnway Way, La Porte, IN 46350
      View Details
    • $1,624,000
      56.31 Acres

      Prime La Porte Residential Land

      56 Acres, New Prairie Schools, I-80/90 Access
      4755 Range Rd, La Porte, IN 46350
      View Details
    • $649,900

      Luxury Lakeside Townhome with Upgrades

      Nearly new townhome with lake views, high-end finishes, and modern amenities.
      169 W Mcclung Rd, La Porte, IN 46350
      View Details
    • Contact for pricing
      26.04 Acres

      Wagner Estates: 26 Acres

      Prime La Porte residential land, ideal for development.
      0 Wagner Rd, La Porte, IN 46350
      View Details
    • Contact for pricing
      1.21 Acres

      La Porte Residential Land - 1.21 Acres

      Prime 1.21-acre residential lot
      0 Apple Orchard Ln, La Porte, IN 46350
      View Details
    • $700,000
      15.94 Acres

      Prime La Porte Commercial Land

      16 Acres, B2 Zoning, High Traffic
      4534 Us Highway 20, La Porte, IN 46350
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,172 SF

      Newporte Landing Restaurant Space

      Prime La Porte, IN restaurant opportunity.
      400 Truesdell Ave, La Porte, IN 46350
      View Details
    • $700 /Mo
      900 SF

      La Porte Office Space

      900 sq ft office space in La Porte, Indiana.
      300 Wile St Unit, La Porte, IN 46350
      View Details
    • $1.00 SF/Yr
      2,200 SF

      Downtown La Porte Commercial Space

      Customizable commercial space in downtown La Porte, available for lease.
      814 Lincolnway, La Porte, IN 46350
      View Details
    • $900 /Mo
      700 SF

      La Porte Office Space Available

      Multiuse office space for lease with Pine Lake visibility.
      113 Pine Lake Ave, La Porte, IN 46350
      View Details
    • $2,300 /Mo
      1,808 SF

      La Porte Commercial Space Available

      Spacious 1808 SF unit in high-visibility La Porte plaza.
      424 Perry St, La Porte, IN 46350
      View Details
    • Contact for pricing
      1,915 SF

      Executive Office Suite, La Porte County

      Modern, move-in ready office space.
      309 Johnson Rd, La Porte, IN 46350
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    523 Grove St
    La Porte, IN 46350
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.