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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2701-2733 Irving St Portage, IN 46368

    • Land
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 2701-2733 Irving St

    Lot size
    1.19 lot acres
    Property type
    Land

    Description

    Invest in this exceptional 1.194-acre commercial land parcel situated in the heart of Portage, Indiana, at 2701-2733 Irving St., zip code 46368. This strategically located property boasts over 375 feet of frontage on Irving Street, offering significant visibility and accessibility. The property's Commercial Mixed Use zoning (CM-CABD) within the Portage Central Avenue Business District allows for a diverse range of development opportunities. Permitted uses include various residential options such as detached or multi-unit homes, fair-housing facilities, and home occupations. Commercial possibilities are equally abundant, encompassing office spaces, low-intensity retail establishments, and restaurants. Further development options may be available through special permits or variances from the city. This prime location offers unparalleled convenience, situated just one block from Willowcreek Avenue and Central Avenue, two of Portage's busiest thoroughfares. Essential utilities are readily available, including electricity, natural gas, high-speed internet access, and municipal water and sewer services. The property's APN is 64-05-13-154-019.000-016. This is an exceptional opportunity to acquire a substantial land parcel in a thriving business district, presenting a compelling investment prospect for both residential and commercial ventures. The asking price is $179,900.

    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
    -87.1809
    Latitude
    41.5729

    Comparable in this City

    • Value Estimation by Request
      28.40 Acres

      Northwood Trl

      Land • 28.40 Acres
      0 Northwood Trl, Portage, IN 46368
      View Details
    • Value Estimation by Request
      6.55 Acres

      Seq Sterling & Willowcreek

      Land • 6.55 Acres
      0 Seq Sterling & Willowcreek, Portage, IN 46368
      View Details
    • Value Estimation by Request
      0.97 Acres

      6035 Lute Rd

      Land • 0.97 Acres
      6035 Lute Rd, Portage, IN 46368
      View Details
    • Value Estimation by Request
      1.52 Acres

      5740 Us-6

      Land • 1.52 Acres
      5740 Us-6, Portage, IN 46368
      View Details
    • Value Estimation by Request
      4.50 Acres

      6200 Melton Rd

      Land • 4.50 Acres
      6200 Melton Rd, Portage, IN 46368
      View Details
    • Value Estimation by Request
      8.39 Acres

      00 Willowcreek Rd

      Land • 8.39 Acres
      00 Willowcreek Rd, Portage, IN 46368
      View Details

    Similar Nearby for Sale

    • $649,000
      3.97 Acres

      Prime Portage Commercial Land

      4 Acres, Highway Commercial Zoning, Ready to Develop
      6340 Melton Rd, Portage, IN 46368
      View Details
    • Contact for pricing
      1.52 Acres

      Portage Commercial Land Development

      Prime US-6 location, various lot sizes.
      5740 Us Highway 6, Portage, IN 46368
      View Details
    • Contact for pricing

      51 Acres Portage Commercial Land

      Prime commercial land, ideal for development. Near parks & retail.
      5060 Us Highway 6, Portage, IN 46368
      View Details
    • Contact for pricing
      2.92 Acres

      Portage Commercial Land - 2.92 Acres

      Prime Commercial Land, US 20 Frontage
      6621 Melton Rd, Portage, IN 46368
      View Details
    • Contact for pricing
      68.00 Acres

      Prime Portage Land - 68 Acres

      68 acres, commercial & residential potential.
      5000 Us Highway 6, Portage, IN 46368
      View Details
    • $425,000

      Prime Portage Commercial Land

      Level lot, US-20 & I-94 access
      0 Marine Dr, Portage, IN 46368
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Prime Portage Commercial Land

      2.92 Acres, US 20 Frontage
      6621 Melton Rd, Portage, IN 46368
      View Details
    • Contact for pricing

      Portage Retail Outparcels - Indiana

      Five retail spaces, build-to-suit options.
      6 And Airport Rd, Portage, IN 46368
      View Details
    • $7 SF/Yr
      148,125 SF

      Sheffield Suite: Prime Flex Space

      39,200 SF Flex Space in Portage, IN
      6575 Daniel Burnham Dr, Portage, IN 46368
      View Details
    • $22 SF/Yr
      8,440 SF

      Retail Space in Power Center

      Retail units available in Portage, Indiana power center.
      2531-2563 Willowcreek Rd, Portage, IN 46368
      View Details
    • Contact for pricing
      3,805 SF

      Retail Space Near Portage IMAX

      Retail space available in multi-tenant building near national retailers.
      6546 Us Highway 6, Portage, IN 46368
      View Details
    • $15 SF/Yr
      1,690 SF

      Retail/Office Space on US 6

      Class A retail and office spaces available for lease.
      6650-6656 Us Highway 6, Portage, IN 46368
      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.
    2701-2733 Irving St
    Portage, IN 46368
    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.