Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    308 Jefferson Ave La Porte, IN 46350
    Back to Search
    Property profile & analytics

    308 Jefferson Ave, La Porte, IN 46350

    View on Map
    • Commercial real estate
    • 1,440 SF
    Off-Market
    Property ID
    US31-1466973
    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

    • Commercial real estate

    Property Details for 308 Jefferson Ave

    Year built
    1926
    Property type
    Commercial real estate

    Description

    This well-maintained, two-unit apartment building in La Porte, Indiana presents a compelling investment opportunity. Located at 308 Jefferson Avenue, this 1,440 square foot property sits on a 3,872 square foot lot and boasts two one-bedroom, one-bathroom units. Built in 1926, the two-story building offers immediate cash flow with significant upside potential. Currently, each unit generates $750 in monthly rent, totaling $1,500 per month. Unit 1, located on the first floor, is leased until July 31, 2025, while Unit 2, on the second floor, is leased until November 30, 2024. With market rents in the area reaching $900 per month, a substantial increase in rental income is achievable. The asking price is $129,000, translating to $64,500 per unit and a price per square foot of $89.58. This property is ideal for investors seeking a stable, long-term investment with immediate returns and the potential for future growth. The property's location in La Porte County, Indiana, zip code 46350, offers convenient access to local amenities and services. This is a turnkey investment ready for a new owner to capitalize on its potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    La Porte
    County
    LaPorte
    State
    Indiana
    Longitude
    -86.716554706785
    Latitude
    41.612564192638

    Comparable in this City

    • Contact for pricing
      42,000 SF

      LaPorte Townhome Multifamily Investment Property

      30-unit multifamily property in LaPorte, Indiana, with convenient access.
      5056 N Pawnee Trl, La Porte, IN 46350
      View Details
    • New
      $179,000
      2,519 SF

      LaPorte Triplex Investment Opportunity

      Value-add triplex in LaPorte with immediate income potential.
      307 State St, La Porte, IN 46350
      View Details
    • $349,900
      2,200 SF

      Turnkey Restaurant with Upstairs Apartment

      Updated restaurant with apartment in booming Northwest Indiana.
      518 Lincolnway Way, La Porte, IN 46350
      View Details
    • Contact for pricing

      Mixed-Use Property for Sale

      Mixed-use property available for purchase.
      102 Ludlow St, La Porte, IN 46350
      View Details
    • $1,950,000
      55.00 Acres

      LaPorte Residential Development Land

      Development-ready 55+ acre residential site in LaPorte, Indiana.
      E Jefferson Ave, La Porte, IN 46350
      View Details
    • Contact for pricing
      0.22 Acres

      Scenic Vacant Lot in La Porte

      Vacant lot with pond views in Galena Township.
      N Fail Rd, La Porte, IN 46350
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      42,000 SF

      LaPorte Townhome Multifamily Investment Property

      30-unit multifamily property in LaPorte, Indiana, with convenient access.
      5056 N Pawnee Trl, La Porte, IN 46350
      View Details
    • New
      $179,000
      2,519 SF

      LaPorte Triplex Investment Opportunity

      Value-add triplex in LaPorte with immediate income potential.
      307 State St, La Porte, IN 46350
      View Details
    • $349,900
      2,200 SF

      Turnkey Restaurant with Upstairs Apartment

      Updated restaurant with apartment in booming Northwest Indiana.
      518 Lincolnway Way, La Porte, IN 46350
      View Details
    • Contact for pricing

      Mixed-Use Property for Sale

      Mixed-use property available for purchase.
      102 Ludlow St, La Porte, IN 46350
      View Details
    • $1,950,000
      55.00 Acres

      LaPorte Residential Development Land

      Development-ready 55+ acre residential site in LaPorte, Indiana.
      E Jefferson Ave, La Porte, IN 46350
      View Details
    • Contact for pricing
      0.22 Acres

      Scenic Vacant Lot in La Porte

      Vacant lot with pond views in Galena Township.
      N Fail Rd, La Porte, IN 46350
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      8,600 SF

      La Porte Industrial Building - 8600 SF

      8,600 SF Manufacturing/Warehouse, Excellent Location
      1201 Lake St, La Porte, IN 46350
      View Details
    • Contact for pricing

      La Porte Commercial Space Available

      Commercial space for lease with customization options in La Porte.
      503 Lincolnway, La Porte, IN 46350
      View Details
    • Contact for pricing

      LaPorte Office Space For Rent

      Spacious 2,100 sq. ft. office space in LaPorte, Indiana.
      300 Wile St, La Porte, IN 46350
      View Details
    • $1,400 /Mo
      1,200 SF

      Remodeled Office in Historic District

      Turnkey office space in revitalizing downtown La Porte, Indiana.
      1101 Indiana Ave, La Porte, IN 46350
      View Details
    • Contact for pricing

      Land For Lease

      Land available for lease in La Porte, Indiana.
      1333 W State Road 2, La Porte, IN 46350
      View Details
    • Contact for pricing
      25,000 SF

      Retail Space in La Porte

      Retail space available in redeveloped shopping center with high visibility.
      1460 W State Road 2, 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.
    308 Jefferson Ave
    La Porte, IN 46350
    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
    308 Jefferson Ave, La Porte, IN, 46350
    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!