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    6630 Us Highway 6 Portage, IN 46368
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    6630 Us Highway 6 Portage, IN 46368

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    • Neighborhood centers
    • 26,400 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 6630 Us Highway 6

    Year built
    2006
    Property size
    26,400 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Diamond Plaza, a Class A, 26,400 square foot retail strip center, offers exceptional opportunities in Portage, Indiana. Located at 6630 US Highway 6, this prime location boasts high visibility and traffic counts, situated directly across from Emagine Portage Theatres. The property features seven suites, with spaces ranging from 1,460 to 6,232 contiguous square feet, and currently has 24,265 square feet available. Ample parking ensures convenient access for customers. The center benefits from excellent access from both American Way and Route 6, providing easy ingress and egress. Prominent pylon and individual unit signage opportunities are available. Join established tenants including Indiana Farm Bureau, Edible Arrangements, and Rush Physical Therapy, in this thriving retail environment. Built in 2006, the 2.61-acre property is located near Portage High School, serving a large population base within Portage, the largest city in Porter County. Portage offers a diverse range of amenities, including parks, marinas with access to Lake Michigan, and various recreational activities. This is an exceptional opportunity for businesses seeking high-traffic exposure in a vibrant community.

    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
    -87.1579
    Latitude
    41.5509

    Comparable in this City

    • Value Estimation by Request

      6 W Hwy

      Lifestyle centers
      6 W Hwy, Portage, IN 46368
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    • Value Estimation
      $2,710,000
      132,646 SF

      6020 Central Ave

      SHOPPING CENTER, STRIP CENTER • 132,646 SF
      6020 Central Ave, Portage, IN 46368-3501
      View Details
    • Value Estimation by Request
      8,715 SF

      5757 Us Hwy 20

      SHOPPING CENTER, STRIP CENTER • 8,715 SF
      5757 Us Hwy 20, Portage, IN 46368-1393
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    • Value Estimation by Request
      6,011 SF

      6030 Us Hwy 6th, Unit 36

      SHOPPING CENTER, STRIP CENTER • 6,011 SF
      6030 Us Hwy 6th, Portage, IN 46368-5047
      View Details
    • Value Estimation by Request
      7,470 SF

      6129 Us Hwy 6th 6

      SHOPPING CENTER, STRIP CENTER • 7,470 SF
      6129 Us Hwy 6th 6, Portage, IN 46368-5058
      View Details
    • Value Estimation
      $605,000
      9,064 SF

      6218 Central Ave, Unit 6224

      SHOPPING CENTER, STRIP CENTER • 9,064 SF
      6218 Central Ave, Portage, IN 46368-3702
      View Details

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      Dual-Unit Auto Repair Facility

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    • $65,000
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      Residential Land in Portage, Indiana

      0.27 acre residential parcel in Squirrel Creek Estate Subdivision.
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    Similar Nearby for Lease

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      Commercial Outparcels in Portage, Indiana

      Outparcels available for lease, sale, or build-to-suit.
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      Retail Space in Portage, Indiana

      Power center development in a high-traffic retail area.
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      Grocery Anchored Retail Center Space

      Retail spaces available in Portage, anchored by Strack & Van Til.
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    • $20 SF/Yr

      Grocery Anchored Retail Space

      Retail spaces available in Portage's premier shopping center.
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      12,000 SF

      Retail Space in Portage, Indiana

      Retail space available in a multi-use planned development.
      750 N 500 W, Portage, IN 46368
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    • Contact for pricing
      28,875 SF

      Retail Space in Portage Center

      Retail space available in Portage's sub-regional trade area.
      Us Highway 6, Portage, IN 46368
      View Details
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    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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