Multi-Tenant Flex
For Sale
$430,000
1608 Firestone Ln, Valparaiso, IN 46383
Metal flex asset offers 14' clear height and three grade-level doors.
Property Size4,922 SF
Price / SF$87.36
Days on Market98
Property Features for 1608 Firestone Ln
General Information
Standard status
Active
Size
4,922 SF
Property subtype
Warehouse
Amenities
Partially Occupied 4,922-Square-Foot Multi-Tenant Flex Asset Situated on 0.34 Acres
Featuring Metal Construction, 14' Clear Height, Three Grade-Level Doors, Three-Phase Power and 25 Parking Spaces
2025 Renovations to 1,500 Square Feet of Office Space Occupied by Construction Company
3,422 Square Feet of Vacant Warehouse Space Available for Owner Use or Lease-Up Opportunity | Asset Priced Well-Below Replacement Costs
Close Proximity to U.S. 30 and S.R. 49 Interchange
Outperforming Porter County Submarket with 2.8 Percent Vacancy vs. 7.8 Percent National Average
Building Details
Building Size
4,922 SF
Year Built
1979
Listing Agency:
Chicago Downtown Office
Listed By:
Aidan McCue · License #License(s): IL: 475216481
(312) 327-5428
Source:
Marcusmillichap
Added: Jul 23
Changed: Oct 25
Last Checked: Oct 28 at 5:40AM
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 Chicago Downtown Office
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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
Estimated NOI and Cap Rate
NOI / Yr
$29,249
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,980
$585.0K
Cap Rate 7%
$417,843
$417.8K
Cap Rate 9%
$324,989
$325.0K
Market Conditions
NOI Build-Up for 4,922 SF
Gross rent
$49.0K $9.96/SF
− Vacancy
−$4.0K −$0.82/SF
EGI
$45.0K $9.14/SF
− OpEx
−$15.7K −$3.20/SF
NOI
$29.2K $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 Rate 5%
$584,980
Cap Rate 7%
$417,843
Cap Rate 9%
$324,989
Alternative Uses
Best Use
Flex RnD
$417.8K
$365.6K – $487.5K
NOI $29,249 @ 7.0% cap · market cap 6.80%
Second Best
Warehouse
$339.3K
$296.9K – $395.8K
NOI $23,749 @ 7.0% cap · market cap 5.52%
Theoretical Best
Healthcare Medical
$1.87M
$1.63M – $2.18M
NOI $130,583 @ 7.0% cap · market cap 30.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Industrial in Midwest region
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 $430,000.
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
