Warehouse with Overhead
For Sale
$399,000
207 Nickle Plate Avenue, Valparaiso, IN 46383
Commercial Sale, Valparaiso, IN
Property Size3,200 SF
Lot Size0.39 Acres
Price / SF$124.69
Days on Market212
Property Features for 207 Nickle Plate Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
5
Interior features
High Ceilings
Appliances
Gas Water Heater
Lot features
Rectangular Lot
Directions
From US 30, turn N onto Axe Ave, then W onto Nickle Plate.
Standard status
Active
APN
640925130013000004
Size
3,200 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PARC IN E1/2 NW DESC 99-016414 25-35-6 .394A
Tax Annual Amount
2081
Legal Description
PARC IN E1/2 NW DESC 99-016414 25-35-6 .394A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
private restroom
laundry hook ups
kitchen area
Building Details
Year built
1972
Listing Agency:
Seramur Properties, LLC
(219) 548-8800
Listed By:
Dennis Seramur · License #RB14028997
(219) 241-4039
Added: Mar 4
Changed: Sep 12
Last Checked: Oct 2 at 3:06AM
MLS# 834882
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.
Investment Insights
Based on property information with market context.
This 3,200-square-foot warehouse was built in 1972 and is arranged with several interior rooms, providing more than a single open storage area. The building includes high ceilings, a private restroom, laundry hookups, and a kitchen area. A 14-foot overhead door supports access for warehouse operations, while forced-air heating fueled by natural gas serves the property.
The 0.394-acre parcel is located within an industrial park in Valparaiso. Public water and public sewer serve the property, and on-site parking is available. A gas water heater is also included.
The 0.394-acre parcel is located within an industrial park in Valparaiso. Public water and public sewer serve the property, and on-site parking is available. A gas water heater is also included.
Key Highlights
- 3,200‑square‑foot warehouse on a 0.394‑acre parcel
- 14‑foot overhead door for warehouse access
- Several interior rooms plus kitchen area and private restroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,440
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$308,800
$308.8K
Cap Rate 7%
$220,571
$220.6K
Cap Rate 9%
$171,556
$171.6K
Market Conditions
NOI Build-Up for 3,200 SF
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.
Gross rent
$19.2K $6.00/SF
− Vacancy
−$1.0K −$0.32/SF
EGI
$18.2K $5.68/SF
− OpEx
−$2.7K −$0.85/SF
NOI
$15.4K $4.83/SF
Area
Porter County, IN
Vacancy
5.39%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$308,800
Cap Rate 7%
$220,571
Cap Rate 9%
$171,556
Alternative Uses
Best Use
Warehouse
$220.6K
$193.0K – $257.3K
NOI $15,440 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.21M
$1.06M – $1.41M
NOI $84,898 @ 7.0% cap · market cap 21.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,121
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Pappas Logistics — 150 W Lincolnway, Valparaiso, IN 46383
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with multiple rooms, private restroom, kitchen area, and laundry hookups.
Where is this warehouse located?
The property is located at 207 Nickle Plate Avenue Valparaiso, IN.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,200‑square‑foot warehouse on a 0.394‑acre parcel; 14‑foot overhead door for warehouse access; Several interior rooms plus kitchen area and private restroom
