Light Industrial Warehouse with Overhead
For Sale
$424,900
207 Nickle Plate Avenue, Valparaiso, IN 46383
COMMERCIAL - Valparaiso, IN
Property Size3,200 SF
Lot Size0.39 Acres
Price / SF$132.78
Days on Market163
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
Forced Air, Natural Gas
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: Aug 4
Last Checked: Aug 14 at 7:06AM
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 light industrial warehouse offers a total of 3,200 SF within an industrial park setting. The space includes private restroom facilities, laundry hookups, and a kitchen area, with several rooms incorporated into the overall layout. High ceilings are listed as an interior feature, and the building is equipped with a gas water heater. Heating is provided via natural gas forced air. A 14 ft overhead door provides vehicle access.
The property sits on a 0.394-acre lot with public water and public sewer. Plenty of parking is noted, supporting day-to-day operations and visitor use.
Constructed in 1972, the warehouse is positioned for tenants seeking a functional light industrial configuration with in-building restrooms and practical back-of-house amenities.
The property sits on a 0.394-acre lot with public water and public sewer. Plenty of parking is noted, supporting day-to-day operations and visitor use.
Constructed in 1972, the warehouse is positioned for tenants seeking a functional light industrial configuration with in-building restrooms and practical back-of-house amenities.
Key Highlights
- 3,200 SF light industrial warehouse in an industrial park setting
- Private restroom, laundry hookups, and kitchen area
- 14 ft overhead door for vehicle access
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
3.63%
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 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.21M
$1.06M – $1.41M
NOI $84,898 @ 7.0% cap · market cap 19.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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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 - Light industrial warehouse with private restroom, laundry hookups, kitchen area, and a 14 ft overhead door on a public-served site.
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 $424,900.
What are key features of this property?
This property features: 3,200 SF light industrial warehouse in an industrial park setting; Private restroom, laundry hookups, and kitchen area; 14 ft overhead door for vehicle access
