Heavy Industrial Land with
For Sale
$240,000
205 Nickle Plate Avenue, Valparaiso, IN 46383
Commercial Sale, Valparaiso, IN
Property Size1,750 SF
Lot Size0.40 Acres
Price / SF$137.14
Days on Market139
Property Features for 205 Nickle Plate Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Rooms
Basement
Parking
3
Parking features
Driveway
Exterior features
Storage
Basement
Partially Finished, Walk-Out Access
Subdivision
Councils Add
Lot features
Back Yard, Front Yard
Directions
Lincolnway to Franklin South. East on Nickle Plate Ave. - property on the left side.
Standard status
Active
APN
640925130012000004
Size
1,750 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PARC IN NW 25-35-6 DESC DR463 P359 .39A COUNCILS ADD PT B BLK28
Tax Annual Amount
3142
Legal Description
PARC IN NW 25-35-6 DESC DR463 P359 .39A COUNCILS ADD PT B BLK28
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1920
Additional Structures
Storage
Listing Agency:
Double Diamond Real Estate LLC
(219) 462-6900
Listed By:
Jennifer Ward
(219) 406-1458
Added: Jun 8
Changed: Oct 22
Last Checked: Oct 24 at 6:06AM
MLS# 840298
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.
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Investment Insights
Based on property information with market context.
This heavy industrial property includes two adjacent parcels with an existing ranch house, walk-out basement, enclosed front porch, and a 20x22 pole barn topped with a new roof. The adjoining parcel adds an office building and a large fenced area, creating a combination of enclosed improvements and outdoor storage space. Public water and public sewer serve the property, and the improvements date to 1920.
The site is located 0.7 miles from historic downtown Valparaiso with access to Hwy 30. Both parcels carry INH Heavy Industrial zoning, supporting the property’s existing industrial-land classification and its mix of building and yard components.
The site is located 0.7 miles from historic downtown Valparaiso with access to Hwy 30. Both parcels carry INH Heavy Industrial zoning, supporting the property’s existing industrial-land classification and its mix of building and yard components.
Key Highlights
- INH Heavy Industrial zoning applies to both adjacent parcels
- Existing ranch house with walk‑out basement and enclosed front porch
- 20x22 pole barn with a new roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,023
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,460
$420.5K
Cap Rate 7%
$300,329
$300.3K
Cap Rate 9%
$233,589
$233.6K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$29.8K $17.04/SF
− Vacancy
−$1.8K −$1.02/SF
EGI
$28.0K $16.02/SF
− OpEx
−$7.0K −$4.00/SF
NOI
$21.0K $12.01/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,460
Cap Rate 7%
$300,329
Cap Rate 9%
$233,589
Alternative Uses
Best Use
Office B
$300.3K
$262.8K – $350.4K
NOI $21,023 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$663.3K
$580.4K – $773.8K
NOI $46,428 @ 7.0% cap · market cap 19.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,696
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial land - Two adjacent parcels combine industrial zoning with existing buildings and a fenced outdoor area.
Where is this industrial land located?
The property is located at 205 Nickle Plate Avenue Valparaiso, IN.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: INH Heavy Industrial zoning applies to both adjacent parcels; Existing ranch house with walk‑out basement and enclosed front porch; 20x22 pole barn with a new roof
