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

    6480 Melton Rd Portage, IN 46368-1268

    • Warehouses
    • 10,776 SF
    • 2.97 lot acres
    OFF-MARKET
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1167116
    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

    • Randall Industries & Randall Workhorse -Portage / Construction Equipment Supplier

    Property Details for 6480 Melton Rd

    Year built
    1986
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.97 lot acres
    Property size
    10,776 SF
    Property type
    Warehouses
    APN
    64-05-01-426-025.000-016
    APU
    640501426025000016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $373,000
      Market price range: $209k - $1.17M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $530,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $465,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Porter
    State
    Indiana
    Longitude
    -87.1646
    Latitude
    41.5995
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI 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
    $11,901
    $228,600
    $231,300
    $459,900
    -
    $228,600
    $231,300
    $459,900

    Comparable in this City

    • Value Estimation
      $920,000
      25,080 SF

      6220 Us Hwy 6th 6

      STORAGE YARD, OPEN STORAGE • 25,080 SF
      6220 Us Hwy 6th 6, Portage, IN 46368-5057
      View Details
    • Value Estimation
      $870,000
      237,590 SF

      5830 Southport Rd

      WAREHOUSE, STORAGE • 237,590 SF
      5830 Southport Rd, Portage, IN 46368-1289
      View Details
    • Value Estimation by Request
      30,000 SF

      Portage, IN 46368

      STORAGE YARD, OPEN STORAGE • 30,000 SF
      Portage, IN 46368
      View Details
    • Value Estimation by Request
      45,000 SF

      6300 Joe Perez

      WAREHOUSE, STORAGE • 45,000 SF
      6300 Joe Perez, Portage, IN 46368
      View Details
    • Value Estimation
      $410,000
      12,720 SF

      2475 Mccool Rd

      MINI-WAREHOUSE, STORAGE • 12,720 SF
      2475 Mccool Rd, Portage, IN 46368
      View Details
    • Value Estimation
      $235,000
      432 SF

      629 700th N

      STORAGE YARD, OPEN STORAGE • 432 SF
      629 700th N, Portage, IN 46368
      View Details

    Similar Nearby for Sale

    • $649,000
      3.97 Acres

      Prime Portage Commercial Land

      4 Acres, Highway Commercial Zoning, Ready to Develop
      6340 Melton Rd, Portage, IN 46368
      View Details
    • $40,000
      0.63 Acres

      High-Traffic Portage Commercial Land

      0.63 Acres, Highway Commercial Zoning
      6672 Melton Rd, Portage, IN 46368
      View Details
    • $1,300,000
      15.00 Acres

      15 Acres Portage Residential Land

      Prime residential land, 15 acres, wooded, creek access.
      3435 Swanson Rd, Portage, IN 46368
      View Details
    • Contact for pricing

      Portage Commercial Land Outlots

      Prime Portage location, retail corridor, IMAX anchored.
      6 And Diamond Portage In, Portage, IN 46368
      View Details
    • Contact for pricing

      Portage Land Near Chicago

      Land with immediate access to major interstates near Chicago.
      Us Highway 12, Portage, IN 46368
      View Details
    • $79,900
      2.07 Acres

      Portage, IN Land Opportunity

      2+ acre corner lot in Porter County, Indiana.
      County Line/Sr 130, Portage, IN 46368
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      88,500 SF

      Portage Warehouse Space Available

      88,500 sqft warehouse/industrial space for lease in Portage, Indiana.
      1680 Jensen Dr, Portage, IN 46368
      View Details
    • $22,500
      18,000 SF

      Portage Commercial Buildings For Lease

      Two commercial buildings totaling 18,000 SF in Portage, Indiana.
      6610 Shepherd Dr, Portage, IN 46368
      View Details
    • Contact for pricing
      574,249 SF

      Portage, IN Industrial/Office Space

      Flexible workspace, 300-50,000 sq ft.
      6515 Ameriplex Dr, Portage, IN 46368
      View Details
    • Contact for pricing
      88,500 SF

      The Kedzie: Flex Space Available

      Modern Flex Space, Portage, IN
      1680 Jensen Dr, Portage, IN 46368
      View Details
    • $11 SF/Yr
      59,903 SF

      Portage Commercial Space on Highway

      Conveniently located flex, industrial, and retail spaces available for lease.
      5347-5383 E Hwy U.S, Portage, IN 46368
      View Details
    • $7 SF/Yr
      148,125 SF

      Sheffield Suite: Prime Flex Space

      39,200 SF Flex Space in Portage, IN
      6575 Daniel Burnham Dr, Portage, IN 46368
      View Details
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    6480 Melton Rd
    Portage, IN 46368-1268
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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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