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

    1200 Michigan Ave La Porte, IN 46350-3525

    • Office Properties & Spaces
    • 8,450 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    Nov 17, 2023
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1634168
    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.

    Current Use by Public Records

    • General Insurance Services / Insurance Agency

    Property Details for 1200 Michigan Ave

    Year built
    1860
    Construction
    WOOD
    Lot size
    0.39 lot acres
    Property size
    8,450 SF
    Property type
    Office Properties & Spaces
    APN
    46-06-36-363-005.000-043
    APU
    460636363005000043

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $364,000
      Market price range: $195k - $522k
      AI Estimate
      $630,000
      Market price range: $240k - $901k

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

    Location Insight

    • Map
    • Local Demand
    City
    La Porte
    County
    Laporte
    State
    Indiana
    Longitude
    -86.718
    Latitude
    41.6069
    CBSA code
    33140
    CBSA name
    MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA

    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
    $7,279
    $85,900
    $154,700
    $240,600
    -
    $85,900
    $154,700
    $240,600

    Comparable in this City

    • Value Estimation by Request

      418 Perry St

      Office Properties & Spaces
      418 Perry St, La Porte, IN 46350
      View Details
    • Value Estimation
      $2,415,000
      42,113 SF

      111 Kingsbury Ave

      OFFICE (GENERAL) • 42,113 SF
      111 Kingsbury Ave, La Porte, IN 46350-5211
      View Details
    • Value Estimation
      $1,380,000
      27,600 SF

      555 Michigan Ave

      OFFICE (GENERAL) • 27,600 SF
      555 Michigan Ave, La Porte, IN 46350-3370
      View Details
    • Value Estimation
      $790,000
      15,774 SF

      1206 Michigan Ave

      OFFICE (GENERAL) • 15,774 SF
      1206 Michigan Ave, La Porte, IN 46350-3525
      View Details
    • Value Estimation
      $18,120,000
      361,808 SF

      602 I St

      OFFICE (GENERAL) • 361,808 SF
      602 I St, La Porte, IN 46350-5530
      View Details
    • Value Estimation by Request
      4,981 SF

      2022 450th N

      OFFICE (GENERAL) • 4,981 SF
      2022 450th N, La Porte, IN 46350-8324
      View Details

    Similar Nearby for Sale

    • $725,000
      20,868 SF

      Historic Downtown La Porte Office Building

      20,868 SF Office Building, Great Investment
      717 Michigan Ave, La Porte, IN 46350
      View Details
    • $199,900
      1,200 SF

      Remodeled Office Building in Downtown

      Turnkey office building in revitalizing downtown La Porte, Indiana.
      1101 Indiana Ave, La Porte, IN 46350
      View Details
    • $725,000

      Historic Downtown Multi-Tenant Building

      Multi-tenant building in LaPorte's historic downtown with development potential.
      La Porte, IN 46350
      View Details
    • $3,005,878
      3,726 SF

      La Porte Medical Investment Property

      New construction medical property with long-term lease and escalations.
      1320 W State Road 2, La Porte, IN 46350
      View Details
    • $145,000
      1,330 SF

      Versatile Commercial Space on Indiana

      Adaptable commercial property on a high-traffic street.
      1025 Indiana Ave, La Porte, IN 46350
      View Details
    • $725,000
      20,868 SF

      Historic Downtown LaPorte Multi-Tenant Building

      Multi-tenant building in historic downtown LaPorte with income potential.
      717 Michigan Ave, La Porte, IN 46350
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,915 SF

      Executive Office Suite, La Porte County

      Modern, move-in ready office space.
      309 Johnson Rd, La Porte, IN 46350
      View Details
    • $22 SF/Yr
      8,640 SF

      Westgate Place Medical Office Space

      Modern Medical Office Suites Available in La Porte, IN
      1333 State Road 2, La Porte, IN 46350
      View Details
    • $1,200 /Mo
      960 SF

      Versatile Commercial Space in La Porte

      960 SF commercial space ideal for office or retail.
      1223 W State Road 2, La Porte, IN 46350
      View Details
    • $5,500 /Mo
      4,500 SF

      La Porte Showroom with Offices

      Commercial space with showroom, offices, and lake views.
      1301 Pine Lake Ave, La Porte, IN 46350
      View Details
    • $1,350 /Mo

      La Porte Office Space Available

      Office space with parking, private offices, and open area.
      418 Perry St, La Porte, IN 46350
      View Details
    • $1.00 SF/Yr
      2,200 SF

      Downtown La Porte Commercial Space

      Customizable commercial space in downtown La Porte, available for lease.
      814 Lincolnway, La Porte, IN 46350
      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.
    1200 Michigan Ave
    La Porte, IN 46350-3525
    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.