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    717 Michigan Ave La Porte, IN 46350

    For Sale
    $725,000

    20,868 SF Office Building, Great Investment

    Property size:
    20,868 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 20,868-square-foot, three-story Class C office building, constructed in 1889, is situated in the heart of historic downtown La Porte, Indiana. The property, located at 717 Michigan Ave (APN 46-06-35-439-012.000-043), sits on a 0.127-acre lot and offers a unique investment opportunity. Currently, the first two floors are fully leased with long-term tenants, providing a stable rental income stream. The third floor is available for an owner-occupier seeking additional rental income or conversion into multi-residential apartments. This multi-tenant building boasts elevator access to all floors and benefits from a large, adjacent parking lot—a rare amenity for a downtown location. Its prime location qualifies it for the Urban Enterprise Grant Program, and its proximity to major highways (including easy access to Hwy 35/39 and State Hwy 2) and the planned South Shore double-track train project enhances its appeal. The South Shore expansion will significantly improve La Porte County's accessibility to Chicago by rail. This property presents a compelling blend of historical charm, strong rental income potential, and strategic location. The asking price is $725,000.

    Property Features for 717 Michigan Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    20,868 SF
    Class
    C
    Lot Size
    5,532 SF

    Building Details

    Year Built
    1889
    Buildings
    1
    Stories
    3

    HighLights

    • Prime downtown LaPorte location, eligible for Urban Enterprise Grants.
    • Excellent highway access via Hwy 35/39 and State Hwy 2.
    • Convenient proximity to the South Shore double track train line, improving Chicago commute.
    • Multi‑tenant building with strong, long‑term lease base.
    • First two floors fully leased; third floor available for owner‑occupancy or rental income.
    • Third floor adaptable for multi‑family conversion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    John T. Heroldt, ... Psychologist Edward Jones - Financial ... Investment Service Hair by Hannah ... Hair Salon Parcel Port Shipping And Mailing Service UPS Authorized Shipping ... Shipping And Mailing Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    La Porte
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.7204563
    Latitude
    41.6107822

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    FAQs

    What type of property is this?
    Office Property / Space - 20,868 SF Office Building, Great Investment
    Where is this office property / space located?
    The property is located at 717 Michigan Ave La Porte, IN.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Prime downtown LaPorte location, eligible for Urban Enterprise Grants.; Excellent highway access via Hwy 35/39 and State Hwy 2.; Convenient proximity to the South Shore double track train line, improving Chicago commute.
    (219) 508-0554
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    Realmo Value Estimation

    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.

    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.

    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
    717 Michigan Ave La Porte, IN 46350
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