Single-Story Medical Office
For Sale
$950,000
2802 Leonard Dr, Valparaiso, IN 46383
All-brick medical office building with parking for 50 cars and 10 exam rooms plus a waiting room and kitchenette.
Property Size5,596 SF
Lot Size1.05 Acres
Price / SF$169.76
Days on Market184
Property Features for 2802 Leonard Dr
General Information
Standard status
Active
Size
5,596 SF
Total Parking Spaces
50
Lot size
1.05 Acres
Building Details
Year Built
2005
Stories
1
Listing Agency:
BHHS Indiana Realty
Listed By:
Debbie Miller, Danielle Miller
(219) 508-3590
Source:
Realtopiare
Added: Apr 24
Changed: Oct 10
Last Checked: Oct 7 at 2:47PM
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 BHHS Indiana Realty
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Investment Insights
Based on property information with market context.
This single-story, all-brick medical office building includes more than 5,500 square feet and is set up with a waiting room, two receptionist/workspace areas, and 10 exam rooms. The interior also features a large private office/conference room, three bathrooms, a large kitchenette, three storage rooms, and a utility room. The walls are noted as not load bearing, and the unit could be re-configured for a new layout.
The property is located in Valparaiso’s Eastport Center Commercial Park, about 1.5 miles from the intersection of Route 30 and State Road 49. Direct visibility from State Road 49 and on-site parking for 50 cars support straightforward patient and staff access.
From an operational standpoint, the configuration is designed around exam and support spaces, with ample administrative, storage, and utility components already in place for day-to-day medical office use.
The property is located in Valparaiso’s Eastport Center Commercial Park, about 1.5 miles from the intersection of Route 30 and State Road 49. Direct visibility from State Road 49 and on-site parking for 50 cars support straightforward patient and staff access.
From an operational standpoint, the configuration is designed around exam and support spaces, with ample administrative, storage, and utility components already in place for day-to-day medical office use.
Key Highlights
- All‑brick, single‑story medical office building with 5,500+ SF in Valparaiso's Eastport Center Commercial Park
- 1.05‑acre lot with direct visibility from St. Rd. 49 and easy access to major thoroughfares
- Parking for 50 cars with asphalt parking and exterior lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,226
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,344,520
$1.3M
Cap Rate 7%
$960,371
$960.4K
Cap Rate 9%
$746,956
$747.0K
Market Conditions
NOI Build-Up for 5,596 SF
Gross rent
$95.4K $17.04/SF
− Vacancy
−$5.7K −$1.02/SF
EGI
$89.6K $16.02/SF
− OpEx
−$22.4K −$4.00/SF
NOI
$67.2K $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%
$1,344,520
Cap Rate 7%
$960,371
Cap Rate 9%
$746,956
Alternative Uses
Best Use
Healthcare Medical
$2.12M
$1.86M – $2.47M
NOI $148,465 @ 7.0% cap · market cap 15.63%
Second Best
Office B
$960.4K
$840.3K – $1.12M
NOI $67,226 @ 7.0% cap · market cap 7.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Well-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 Office in Midwest region
Similar Off Market Nearby
- Dr. Christopher Keeley — 1259 Sturdy Rd, Valparaiso, IN 46383
- Mc Afee Animal Hospital: Hargarten Andrea DVM — 651 Eastport Center Dr, Valparaiso, IN 46383
- Dr. Steve Violanti — 651 Eastport Center Dr, Valparaiso, IN 46383
- Rafols Danielle DVM — 651 Eastport Center Dr, Valparaiso, IN 46383
- McAfee Animal Hospital — 651 Eastport Center Dr, Valparaiso, IN 46383
Frequently Asked Questions
What type of property is this?
Medical Office Space - All-brick medical office building with parking for 50 cars and 10 exam rooms plus a waiting room and kitchenette.
Where is this medical office space located?
The property is located at 2802 Leonard Dr Valparaiso, IN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: All‑brick, single‑story medical office building with 5,500+ SF in Valparaiso's Eastport Center Commercial Park; 1.05‑acre lot with direct visibility from St. Rd. 49 and easy access to major thoroughfares; Parking for 50 cars with asphalt parking and exterior lighting
