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    5540 Us Highway 6 Portage, IN 46368
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    5540 Us Highway 6 Portage, IN 46368

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    • Retail properties & Spaces
    • 9.90 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 5540 Us Highway 6

    Year built
    1958
    Lot size
    9.90 lot acres
    Property type
    Retail properties & Spaces

    Description

    This exceptional 9.93-acre commercial property presents a remarkable retail or development opportunity in Portage, Indiana. Boasting an impressive 340 feet of frontage on US Highway 6, this location benefits from a substantial daily traffic count of 18,305 vehicles. The property includes a 4,080 square foot commercial building, strategically situated across two parcels. Recent improvements have been completed in phases one and two, culminating in city sewer connection in 2024. The existing building offers versatile space, including 1,085 square feet of retail/showroom area, a 302 square foot office, and a 166 square foot break room. A significant asset is the inclusion of a 2,142 square foot heated shop/warehouse, constructed by FBI, featuring a 16-foot clear ceiling height, concrete flooring, and two overhead doors. This substantial space is ideal for various commercial uses. Two convenient road cuts provide direct access to US Highway 6, ensuring excellent visibility and accessibility for customers and employees. The property's size and location make it an ideal candidate for expansion or redevelopment, presenting significant potential for future growth and profitability. This is a rare opportunity to acquire a high-traffic, well-located commercial property with existing infrastructure and significant development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Porter
    State
    Indiana
    Longitude
    -87.2007
    Latitude
    41.5511

    Comparable in this City

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      58,000 SF

      5740 Us-6

      Land • 58,000 SF
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      26,400 SF

      6630 Us Highway 6

      Neighborhood centers • 26,400 SF
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    • Value Estimation by Request

      6 W Hwy

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    • Value Estimation by Request
      2,662 SF

      6335 Ameriplex Dr

      Restaurants • 2,662 SF
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    • Value Estimation by Request
      15,930 SF

      6540 Us Highway 6

      Outlet malls • 15,930 SF
      6540 Us Highway 6, Portage, IN 46368
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    • Value Estimation by Request
      126,777 SF

      2563 Willowcreek Rd

      Power centers • 126,777 SF
      2563 Willowcreek Rd, Portage, IN 46368
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    Similar Nearby for Sale

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      Portage, IN Land Available

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      Portage, IN Land Opportunity

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    Similar Nearby for Lease

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      Commercial Outparcels in Portage, Indiana

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      Retail Space in Augusta Center

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      Retail Space on US 6

      10,800 SF retail space in Portage, Indiana for lease.
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      Retail Space in Portage, Indiana

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      Grocery Anchored Retail Center Space

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    • $20 SF/Yr

      Grocery Anchored Retail Space

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    5540 Us Highway 6
    Portage, IN 46368
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    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
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