Multi-Tenant Flex
For Sale
$495,000
1608 Firestone Ln, Valparaiso, IN 46383
Metal flex asset offers 14' clear height and three grade-level doors.
Property Size4,922 SF
Price / SF$100.57
Days on Market12
Property Features for 1608 Firestone Ln
General Information
Standard status
Active
Size
4,922 SF
Property subtype
Warehouse
Building Details
Year Built
1979
Listing Agency:
Marcus & Millichap | Indianapolis
(312) 327-5428
Listed By:
Aidan T. McCue · License #License(s): IL: 475.216481
(312) 327-5428
Source:
Marcusmillichap
Added: Jul 23
Changed: Jul 24
Last Checked: Aug 3 at 2:37AM
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 Marcus & Millichap | Indianapolis
Investment Insights
Based on property information with market context.
This partially occupied multi-tenant flex warehouse totals 4,922 square feet on 0.34 acres and features metal construction throughout. The facility offers 14' clear height, three grade-level doors, and three-phase power, supported by 25 parking spaces for employees and visitors. A total of 1,500 square feet of office space was renovated in 2025 and is currently occupied by a construction company.
The remaining 3,422 square feet of warehouse space is vacant and available for owner use or lease-up. The property’s location provides easy access to major thoroughfares, with close proximity to the interchange between U.S. Route 30 (East Morthland Drive) and Indiana State Road 49.
The remaining 3,422 square feet of warehouse space is vacant and available for owner use or lease-up. The property’s location provides easy access to major thoroughfares, with close proximity to the interchange between U.S. Route 30 (East Morthland Drive) and Indiana State Road 49.
Key Highlights
- 4,922‑SF multi‑tenant flex asset on 0.34 acres with 14' clear height
- Metal construction with three grade‑level doors and three‑phase power
- Partially occupied: 1,500 SF office space renovated in 2025 and occupied by a construction company
Financial Insights For Flex RnD
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 | $49.0k | $9.96 |
| − Vacancy | −$4.0k | −$0.82 |
| EGI | $45.0k | $9.14 |
| − OpEx | −$15.7k | −$3.20 |
| NOI | $29.2k | $5.94 |
4,922 SF · lease $9.96/SF/yr · vacancy 8.21% · expense 35.00%
Alternative Uses
Best Use
Office B
$844.7K
$739.1K – $985.5K
NOI $59,129 @ 7.0% cap · market cap 11.95%
Second Best
Flex RnD
$417.8K
$365.6K – $487.5K
NOI $29,249 @ 7.0% cap · market cap 5.91%
Theoretical Best
Healthcare Medical
$1.87M
$1.63M – $2.18M
NOI $130,583 @ 7.0% cap · market cap 26.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Under-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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Beef Mart of Valparaiso — 614 Roosevelt Rd, Valparaiso, IN 46383
Frequently Asked Questions
What type of property is this?
Flex space - Metal flex asset offers 14' clear height and three grade-level doors.
Where is this flex space located?
The property is located at 1608 Firestone Ln Valparaiso, IN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 4,922‑SF multi‑tenant flex asset on 0.34 acres with 14' clear height; Metal construction with three grade‑level doors and three‑phase power; Partially occupied: 1,500 SF office space renovated in 2025 and occupied by a construction company
