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    6 W Hwy Portage, IN 46368
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    6 W Hwy Portage, IN 46368

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    • Lifestyle centers
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 6 W Hwy

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 55,000-square-foot shopping center in Portage, Indiana, presents a unique investment opportunity. Located on W U.S. Hwy 6 in Porter County (zip code 46368), this single-story, five-unit retail center enjoys a highly visible location directly adjacent to a Walmart. The property is fully improved with all utilities in place, and features off-site water retention, making it shovel-ready for immediate occupancy. Currently vacant, this property is zoned for retail use and is offered as an outright sale or as a build-to-suit opportunity for a credit-worthy tenant. The property operates under a Net Net Net (NNN) lease structure. This is the last available parcel in Portage's thriving retail district, offering unparalleled access to a dense consumer base. The ground lease is in place. No tenant credit rating is currently available. This presents a rare chance to acquire a prime retail location with significant potential for growth and return on investment. The property's strategic location and turnkey condition make it an ideal choice for both owner-users and investors seeking a high-impact retail presence in a dynamic market.

    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
    -87.1802
    Latitude
    41.5504

    Comparable in this City

    • Value Estimation by Request
      126,777 SF

      2563 Willowcreek Rd

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      2563 Willowcreek Rd, Portage, IN 46368
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    • Value Estimation by Request
      26,400 SF

      6630 Us Highway 6

      Neighborhood centers • 26,400 SF
      6630 Us Highway 6, Portage, IN 46368
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    • Value Estimation by Request
      10,000 SF

      3380 Willowcreek Rd, Unit 94

      SHOPPING CENTER, STRIP CENTER • 10,000 SF
      3380 Willowcreek Rd, Portage, IN 46368-5052
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    • Value Estimation by Request
      4,647 SF

      2596 Portage Mall

      SHOPPING CENTER, STRIP CENTER • 4,647 SF
      2596 Portage Mall, Portage, IN 46368-3054
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    • Value Estimation
      $550,000
      10,800 SF

      6630 Us Hwy 6th 6

      SHOPPING CENTER, STRIP CENTER • 10,800 SF
      6630 Us Hwy 6th 6, Portage, IN 46368-5117
      View Details
    • Value Estimation
      $530,000
      11,100 SF

      3200 3300th Willowcree

      SHOPPING CENTER, STRIP CENTER • 11,100 SF
      3200 3300th Willowcree, Portage, IN 46368
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Building with Vacant Lot

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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 Center

      Retail space available in Portage's sub-regional trade area.
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      Retail Space in Portage, Indiana

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      Retail Space Near Portage IMAX

      Retail space available in multi-tenant building near national retailers.
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      Retail Space in Power Center

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

      Retail Space in Portage, Indiana

      Power center development in a high-traffic retail area.
      6495 Us Highway 6, Portage, IN 46368
      View Details
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    6 W Hwy
    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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