6125 Central Ave, Portage, IN 46368-3632
- Retail space
- 6,900 SF
- 0.96 lot acres
Current Use by Public Records
- UPS Access Point location / Courier Service / Postal Service
- Advance Auto Parts / Auto Parts Store
Property Details for 6125 Central Ave
- Year built
- 2004
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.96 lot acres
- Property type
- Retail space
- APN
- 64-05-13-156-001.000-016
- APU
- 640513156001000016
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 25, 2024 | — | Daniel B Light | Eschen Portage LLC | Special Warranty Deed | — |
| May 21, 2008 | — | Angela C Davis | Valenti Dev Corp | Grant Deed | $110k · Gemini Bancorp Ltd |
| — | — | Eschen Portage LLC | — | Deed Of Trust · related | $784k · Tcf National Bank |
| — | — | Eschen Portage LLC | — | Deed Of Trust · related | $819k · Harris NA |
Description
This fee-simple investment opportunity presents a 7,000-square-foot Advance Auto Parts store in Portage, Indiana. The property, built in 2004 and situated on a 0.96-acre lot, boasts a strong 20-year operating history with a recently exercised lease extension through December 31, 2029. This highly passive net lease minimizes landlord responsibilities, encompassing only the building's structure, slab, and foundation. The lease includes a 5% rental increase at each option period, providing consistent income growth. The property enjoys a prime location on Central Avenue (14,000 vehicles per day), benefiting from high visibility and proximity to Interstate 90. This thriving retail corridor features numerous national retailers, including other auto parts stores, enhancing the property's value and appeal. The property also benefits from its proximity to a 300-unit apartment complex and a one-mile average household income exceeding $103,000. The property includes 45 parking spaces and generates a Net Operating Income (NOI) of $137,268, representing a 7.50% capitalization rate. This investment offers a stable, long-term income stream with significant upside potential. The current occupancy is 100%.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,142,000
- AI Estimate
- $601,000
Market price range: $415k - $1.20MMarket price range: $258k - $602k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $715,000 Current use
- COMMERCIAL (GENERAL)
- $680,000 Change: -4% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Portage
- County
- Porter
- State
- Indiana
- Longitude
- -87.1782
- Latitude
- 41.5756
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
