Single-Story Medical Office
2802 Leonard Drive Valparaiso, IN 46383
2802 Leonard Drive, Valparaiso, IN, 46383
$1,000,000
For Sale
$1,000,000
All-brick medical office building with parking for 50 cars and 10 exam rooms plus a waiting room and kitchenette.
Property Size5,500 SF
Lot Size1.05 Acres
Price / SF$181.82
Days on Market452
Property Features for 2802 Leonard Drive
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Lot size
- 1.05 Acres
- Property subtype
- Office
Building Details
- Year Built
- 2005
Listing agency
BHHS Executive Group RE
(219) 405-8648
Listed by
Debbie Miller · License #RB14018538
(219) 405-8648
Source
Xome
Added: Apr 26, 2025 Updated: Jul 21 at 1:01AM Checked: Jul 21 at 3:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Executive Group RE
Investment Insights
Based on property information with market context.
This single-story, all-brick medical office building includes more than 5,500 square feet and is set up with a waiting room, two receptionist/workspace areas, and 10 exam rooms. The interior also features a large private office/conference room, three bathrooms, a large kitchenette, three storage rooms, and a utility room. The walls are noted as not load bearing, and the unit could be re-configured for a new layout.
The property is located in Valparaiso’s Eastport Center Commercial Park, about 1.5 miles from the intersection of Route 30 and State Road 49. Direct visibility from State Road 49 and on-site parking for 50 cars support straightforward patient and staff access.
From an operational standpoint, the configuration is designed around exam and support spaces, with ample administrative, storage, and utility components already in place for day-to-day medical office use.
The property is located in Valparaiso’s Eastport Center Commercial Park, about 1.5 miles from the intersection of Route 30 and State Road 49. Direct visibility from State Road 49 and on-site parking for 50 cars support straightforward patient and staff access.
From an operational standpoint, the configuration is designed around exam and support spaces, with ample administrative, storage, and utility components already in place for day-to-day medical office use.
Key Highlights
- All‑brick, single‑story medical office building with 5,500+ SF in Valparaiso's Eastport Center Commercial Park
- 1.05‑acre lot with direct visibility from St. Rd. 49 and easy access to major thoroughfares
- Parking for 50 cars with asphalt parking and exterior lighting
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.7k | $17.04 |
| − Vacancy | −$5.6k | −$1.02 |
| EGI | $88.1k | $16.02 |
| − OpEx | −$22.0k | −$4.00 |
| NOI | $66.1k | $12.01 |
5,500 SF · lease $17.04/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$2.08M
$1.82M – $2.43M
NOI $145,918 @ 7.0% cap · market cap 14.59%
Second Best
Office B
$943.9K
$825.9K – $1.10M
NOI $66,073 @ 7.0% cap · market cap 6.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
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Similar Off Market Nearby
- Dr. Christopher Keeley — 1259 Sturdy Rd, Valparaiso, IN 46383
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- Dr. Steve Violanti — 651 Eastport Center Dr, Valparaiso, IN 46383
- Rafols Danielle DVM — 651 Eastport Center Dr, Valparaiso, IN 46383
FAQs
What type of property is this?
Medical Office Space - All-brick medical office building with parking for 50 cars and 10 exam rooms plus a waiting room and kitchenette.
Where is this medical office space located?
The property is located at 2802 Leonard Drive Valparaiso, IN.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: All‑brick, single‑story medical office building with 5,500+ SF in Valparaiso's Eastport Center Commercial Park; 1.05‑acre lot with direct visibility from St. Rd. 49 and easy access to major thoroughfares; Parking for 50 cars with asphalt parking and exterior lighting
