Auto Shop with Heated
For Sale
$345,000
431 E Us Highway 6, Valparaiso, IN 46383
Commercial Sale, Valparaiso, IN
Property Size2,300 SF
Lot Size0.85 Acres
Price / SF$150
Days on Market232
Property Features for 431 E Us Highway 6
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
30
Parking features
Oversize
Appliances
Water Heater
Directions
Approx 4 miles East of SR 49 on US HWY 6
Standard status
Active
APN
640722300037000005
Size
2,300 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E190 W1624.15 S195 SW 22-36-5 .85A
Tax Annual Amount
1606
Legal Description
E190 W1624.15 S195 SW 22-36-5 .85A
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Water source
Well
Building Details
Year built
1940
Listing Agency:
RE/MAX Lifestyles · RE/MAX International
(219) 462-2121
Listed By:
Nicholas Blanusha · License #RB25000564
(312) 914-2549
Added: Feb 6
Changed: Sep 6
Last Checked: Sep 26 at 11:06AM
MLS# 833709
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,300-square-foot auto shop occupies a 0.85-acre property and combines heated service space with administrative areas. The building includes three service bays, two 10-foot overhead doors, one 14-foot overhead door, concrete floors, and an in-ground auto lift. Office improvements consist of a private office, an open administrative area, and a restroom with a shower.
Built in 1940, the property is served by forced-air heating, a well, and a septic tank. Oversize parking is available. The facility may suit automotive, light industrial, or contracting operations; buyers should verify intended use with Porter County.
Built in 1940, the property is served by forced-air heating, a well, and a septic tank. Oversize parking is available. The facility may suit automotive, light industrial, or contracting operations; buyers should verify intended use with Porter County.
Key Highlights
- 2,300 SF building on a 0.85‑acre lot
- Three heated service bays with concrete floors
- Two 10‑foot overhead doors and one 14‑foot overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,668
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$273,360
$273.4K
Cap Rate 7%
$195,257
$195.3K
Cap Rate 9%
$151,867
$151.9K
Market Conditions
NOI Build-Up for 2,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.9K $9.96/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$21.0K $9.14/SF
− OpEx
−$7.4K −$3.20/SF
NOI
$13.7K $5.94/SF
Area
Porter County, IN
Vacancy
8.21%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$273,360
Cap Rate 7%
$195,257
Cap Rate 9%
$151,867
Alternative Uses
Best Use
Retail
$462.7K
$404.9K – $539.8K
NOI $32,390 @ 7.0% cap · market cap 9.39%
Second Best
Flex RnD
$195.3K
$170.9K – $227.8K
NOI $13,668 @ 7.0% cap · market cap 3.96%
Theoretical Best
Healthcare Medical
$871.7K
$762.8K – $1.02M
NOI $61,020 @ 7.0% cap · market cap 17.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
3
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46383, IN
41,981
Population
18,343
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
95%
High-School Grad
87.5 sq mi
ZIP Area
480
Density / Sq Mi
$75,575
Median Household Income
$43,065
Median Earnings
$1,144
Median Rent
$258,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Versatile automotive facility with office, workshop, service bays, overhead doors, and an in-ground lift.
Where is this auto shop located?
The property is located at 431 E Us Highway 6 Valparaiso, IN.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 2,300 SF building on a 0.85‑acre lot; Three heated service bays with concrete floors; Two 10‑foot overhead doors and one 14‑foot overhead door
