Single-Story Medical Office
For Sale
$950,000
2802 Leonard Drive, Valparaiso, IN 46383
Commercial Sale, Valparaiso, IN
Property Size5,596 SF
Lot Size1.05 Acres
Price / SF$169.76
Days on Market498
Property Features for 2802 Leonard Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
50
Exterior features
Lighting
Lot features
Landscaped
Directions
LaPorte Ave to Mariposa Dr, turn south. Turn onto Leonard Dr.
Standard status
Active
APN
641029153002000029
Size
5,596 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
REPLAT OF LOT 5 EASTPORT CENTRE FOR COMMERCE & INDUSTRY NW 29-35-5 LOT 5A 1.05A TIF DITCH
Tax Annual Amount
15421
Legal Description
REPLAT OF LOT 5 EASTPORT CENTRE FOR COMMERCE & INDUSTRY NW 29-35-5 LOT 5A 1.05A TIF DITCH
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2005
Listing Agency:
BHHS Indiana Realty · Berkshire Hathaway HomeServices
(219) 464-8521
Listed By:
Debbie Miller
(219) 405-8648
Added: Jun 18, 2025
Changed: Oct 16
Last Checked: Oct 28 at 1:06PM
MLS# 822856
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 5,596-square-foot medical office building was constructed in 2005 and features a single-story, all-brick exterior. The interior includes a waiting room, two reception or workspace areas, 10 exam rooms, a private office and conference room, three bathrooms, a kitchenette, three storage rooms, and a utility room. Non-load-bearing walls allow the layout to be reconfigured. Forced-air heating, lighting, public water, and public sewer serve the property.
The building occupies 1.05 acres within Eastport Center Commercial Park in Valparaiso, with visibility from State Road 49. It is located 1.5 miles from the intersection of Route 30 and State Road 49. Parking is provided for 50 cars.
The building occupies 1.05 acres within Eastport Center Commercial Park in Valparaiso, with visibility from State Road 49. It is located 1.5 miles from the intersection of Route 30 and State Road 49. Parking is provided for 50 cars.
Key Highlights
- 5,596‑square‑foot medical office building on 1.05 acres
- 10 exam rooms plus waiting, reception, private office, conference, and support areas
- Non‑load‑bearing interior walls support future reconfiguration
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.
How Realmo checks its estimates
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
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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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 - Configured healthcare facility with adaptable interior partitions, public utilities, and on-site parking.
Where is this medical office space located?
The property is located at 2802 Leonard Drive 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: 5,596‑square‑foot medical office building on 1.05 acres; 10 exam rooms plus waiting, reception, private office, conference, and support areas; Non‑load‑bearing interior walls support future reconfiguration
