Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1000 N Morton St Portland, IN 47371
    Property profile & analytics

    1000 N Morton St, Portland, IN 47371

    View on Map
    • Manufacturing properties
    • 73,243 SF
    • 3.15 lot acres
    For Sale
    $4,400,000
    View Listing →
    Portland IN Manufacturing Building For Sale For Sale
    $4,400,000
    115,993 SF

    Portland IN Manufacturing Building For Sale

    115,993 SF manufacturing building in Portland, Indiana.

    1000 N Morton St, Portland, IN 47371
    View Listing
    Property ID
    US31-1954208
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 1000 N Morton St

    Year built
    1978
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.15 lot acres
    Property type
    Manufacturing properties
    APN
    38-07-16-304-003.000-034
    APU
    380716304003000034

    Description

    This exceptional 115,993-square-foot industrial building in Portland, Indiana, presents a significant investment opportunity. Located at 1000 N Morton St, this property sits on a 5.67-acre lot and boasts a desirable IND/Industrial District zoning. Built in 1978 with renovations between 2006 and 2018, the building features 6 loading docks and 8 drive-in doors, facilitating efficient logistics. The warehouse space includes a substantial 41,000-square-foot clear span area constructed in 2018, complemented by 2,553 square feet of office space. Ceiling heights range from 14 to 18 feet, providing ample vertical space. The property also offers robust power with a 5,000-amp, 480-volt, 3-phase electrical service and is fully sprinklered for enhanced safety. With 100 parking spaces and a sale price of $4,400,000 ($37.93/SF), this property is ideal for various industrial uses, including manufacturing, storage, and distribution. The property's history includes uses such as painting, injection molding, and metalizing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $855,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,004,000
      Market price range: $937k - $3.63M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Jay
    State
    Indiana
    Longitude
    -84.9693
    Latitude
    40.4411

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,765
    $47,400
    $664,200
    $711,600
    -
    $47,400
    $664,200
    $711,600

    Comparable in this City

    • Value Estimation
      $2,665,000
      123,065 SF

      1355 Tyson Rd

      MANUFACTURING (LIGHT)
      1355 Tyson Rd, Portland, IN 47371-7997
      View Details
    • Value Estimation by Request
      9,824 SF

      303 Blaine Pike

      MANUFACTURING (LIGHT)
      303 Blaine Pike, Portland, IN 47371-2301
      View Details
    • Value Estimation
      $1,215,000
      78,216 SF

      1621 Meridian 100th N

      MANUFACTURING (LIGHT)
      1621 Meridian 100th N, Portland, IN 47371
      View Details
    • Value Estimation
      $1,710,000
      77,700 SF

      500 Industrial Dr

      MANUFACTURING (LIGHT)
      500 Industrial Dr, Portland, IN 47371-9399
      View Details
    • Value Estimation
      $710,000
      22,000 SF

      103 Performance Dr

      MANUFACTURING (LIGHT)
      103 Performance Dr, Portland, IN 47371-9012
      View Details
    • Value Estimation
      $685,000
      43,540 SF

      300 Industrial Dr

      MANUFACTURING (LIGHT)
      300 Industrial Dr, Portland, IN 47371-9302
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      115,993 SF

      Portland IN Manufacturing Building For Sale

      115,993 SF manufacturing building in Portland, Indiana.
      1000 N Morton St, Portland, IN 47371
      View Details
    • Contact for pricing
      115,993 SF

      Industrial Property with Modern Warehouse

      Modern industrial property featuring a clear span warehouse and office space.
      1000 N Morton St, Portland, IN 47371
      View Details
    • $2,300,000

      Value-Add Self Storage Facilities

      Self-storage facilities with 383 units totaling 44,180 square feet.
      217 E Pearl St, Portland, IN 47371
      View Details
    • Contact for pricing

      Self-Storage Facility with 383 Units

      Self-storage facility featuring 383 units and 44,180 NRSF for sale.
      217 E Pearl St, Portland, IN 47371
      View Details
    • Contact for pricing
      684 SF

      Scooter’s Coffee NNN Investment

      Corporate guaranteed NNN lease with scheduled rental increases.
      1450 N Meridian St, Portland, IN 47371
      View Details
    • Contact for pricing
      2,554 SF

      Turnkey Restaurant on Corner Lot

      Remodeled restaurant with drive-up, high visibility, and ample parking.
      1511 N Meridian St, Portland, IN 47371
      View Details
    View Listing
    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.
    1000 N Morton St
    Portland, IN 47371
    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

    Thank You for Inquiry
    1000 N Morton St, Portland, IN, 47371
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!