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    5235 W State Rd 10 North Judson, IN 46366

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    Claim this Listing
    For Sale
    Under Contract
    $3,500,000

    COMMERCIAL - North Judson, IN

    Property size:
    72,816 SF
    Lot size:
    13.00 Acres
    Added:
    Feb 21, 2025
    Days on Market:
    420
    Last Refresh:
    Apr 17 at 9:06 am

    Property Features for 5235 W State Rd 10

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    20
    Security features
    Security Lighting
    Interior features
    Elevator
    Exterior features
    Private Entrance, Uncovered Courtyard
    Accessibility
    Accessible Elevator Installed, Accessible Approach with Ramp
    Standard status
    Active Under Contract
    APN
    750919200010000013
    Size
    72,816 SF
    Lot size
    13.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Legal Description: Off E Side NW NE S19 T32 R3 13A
    Tax Annual Amount
    10050

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1946

    We can help!

    Listing Contact
    Donna Osborne

    Listing agent Donna Osborne License #RB14032219

    Listing office Osborne Advantage Real Estate 202 S. Schricker Avenue, North Judson, IN

    Listing date Feb 21, 2025

    MLS# 816407

    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.

    Overview

    North Judson Manufacturing Facility

    This commercial facility in North Judson, Indiana, offers approximately 73,000 square feet of manufacturing, office, and warehouse space. The single-story building was renovated in 2016 and is situated on a 13-acre lot. The property includes operating crane(s) and loading docks. All applicable utility services are available on site. The property is located in an economic revitalization area with current tax abatement. The facility is suitable for manufacturing, office, and warehouse operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Pet Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Judson
    County
    Starke
    State
    Indiana
    Longitude
    -86.83237
    Latitude
    41.214993

    Nearby Similar for Sale

    • $399,900
      4,680 SF

      North Judson Commercial Event Venue

      Versatile commercial property ideal for events, meetings, or business opportunities.
      405 Lane Street, North Judson, IN 46366
      View Details
    • $375,000
      4,000 SF

      Highway Commercial Property with Businesses

      Thriving businesses on a high-traffic highway location.
      0115 W State Road, North Judson, IN 46366
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 73,000 sqft manufacturing, office, and warehouse facility for sale.
    Where is this manufacturing property located?
    The property is located at 5235 W State Rd 10 North Judson, IN.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: 73,000 sq. ft. of manufacturing, office, and warehouse space; Located in an economic revitalization area with current tax abatement; Renovated in 2016
    (219) 689-2567
    We can help!
    Listing Contact
    Donna Osborne
    Real Estate License ID: RB14032219
    Learn More
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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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