2910 Monroe StLa Porte, IN 46350

Property Details for 2910 Monroe St

Year built

1995

Construction

WOOD

Lot size

2.13 AC

Property size (Sq ft)

5,932 SF

Property type

Medical offices

Property subtype

Medical centers

APN

46-11-06-178-008.000-058

APU

461106178008000058

Description

This exceptional investment opportunity presents a 5,932 square foot medical office building located at 2910 Monroe Street, La Porte, Indiana, 46350. The property boasts a brand new 10-year triple net (NNN) lease with Lighthouse Autism Center, a financially strong tenant with a corporate guarantee. This single-tenant occupancy ensures a stable and reliable income stream, further enhanced by a 3% annual rent escalation. The building, constructed in 1995 and classified as Class B, sits on a 2.13-acre lot zoned B1 Neighborhood Commercial. The property features significant upgrades completed in 2024 and offers a compelling 7.27% capitalization rate with a Net Operating Income (NOI) of $145,334 and an asking price of $1,999,000 ($336.99 per square foot). Situated in the Chicago MSA, La Porte offers a blend of small-town charm and convenient access to urban amenities, including proximity to parks, lakes, and cultural attractions. The city's population is 22,241 (2020 Census), and its location along the South Shore train line provides easy access to Chicago. This investment is ideal for those seeking a secure, high-yield property with a long-term lease to a reputable tenant in a growing community. The property is 100% occupied.

• CAP approach

  CAP return

  Valuation

  6%

  $1,906,376

  6.5%

  $1,759,732

  7%

  $1,634,036

• Comparable approach

  Method

  Valuation

  Relative Method

  $772,643

  Geo Method

  $772,643

• Alternative Use

  Use

  Valuation

  Residential

  $2,182,067

  Hospitality

  $1,998,762

  Educational

  $1,662,946

  Medical

  $1,720,138

  Retail

  $2,586,805

Location Insight

City

La Porte

County

Laporte

State

Indiana

Latitude

41.5998

Longitude

-86.6913

CBSA code

33140

CBSA name

MICHIGAN CITY-LA PORTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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