Renovated Medical Office
For Sale
$150,000
Pending
401 Wall St Unit D, Valparaiso, IN 46383
Updated suite with private rooms, reception space, treatment area, kitchen, and restroom supports medical or professional use.
Property Size1,098 SF
Days on Market159
Property Features for 401 Wall St Unit D
General Information
Standard status
Pending
Size
1,098 SF
Property subtype
Commercial
Additional Details
Office Units
10
Amenities
shared waiting areas
common restrooms
basement storage
Building Details
Year Built
1982
Tenancy
Single
Listing Agency:
Century 21 Alliance Group
(219) 462-2090
Listed By:
Nicholas Sommer · License #RB14050981
Source:
Nwindianahomesearcher
Added: Mar 26
Changed: Aug 30
Last Checked: Aug 30 at 5:49PM
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 Century 21 Alliance Group
Investment Insights
Based on property information with market context.
Unit D is a 1,098-square-foot medical office condo with four private offices or exam rooms, a patient reception area, kitchen, restroom, and a spacious treatment room. The treatment area may be divided to create additional exam rooms. Interior improvements include new flooring, paint, ceiling tiles, lighting, and an updated restroom. Basement storage and access to shared waiting areas and common restrooms add functional support space.
The property is located at 401 Wall St in Valparaiso, Indiana, within a 10-unit medical complex on a 2-acre site. Shared patient parking serves the complex. Built in 1982, the unit was previously used by a pediatric physical therapist and is configured for medical or professional occupancy.
The property is located at 401 Wall St in Valparaiso, Indiana, within a 10-unit medical complex on a 2-acre site. Shared patient parking serves the complex. Built in 1982, the unit was previously used by a pediatric physical therapist and is configured for medical or professional occupancy.
Key Highlights
- 1,098 SF medical office condo with four private offices or exam rooms
- Large treatment room can be divided into additional exam rooms
- Reception area, kitchen, restroom, and basement storage included
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
$13,190
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
8.79%
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%
$263,800
$263.8K
Cap Rate 7%
$188,429
$188.4K
Cap Rate 9%
$146,556
$146.6K
Market Conditions
NOI Build-Up for 1,098 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
$18.7K $17.04/SF
− Vacancy
−$1.1K −$1.02/SF
EGI
$17.6K $16.02/SF
− OpEx
−$4.4K −$4.00/SF
NOI
$13.2K $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 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%
$263,800
Cap Rate 7%
$188,429
Cap Rate 9%
$146,556
Alternative Uses
Best Use
Healthcare Medical
$416.2K
$364.1K – $485.5K
NOI $29,131 @ 7.0% cap · market cap 19.42%
Second Best
Office B
$188.4K
$164.9K – $219.8K
NOI $13,190 @ 7.0% cap · market cap 8.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,161
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 Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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- Donohue Bill DVM — 2606 Valley Dr, Valparaiso, IN 46383, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated suite with private rooms, reception space, treatment area, kitchen, and restroom supports medical or professional use.
Where is this medical office space located?
The property is located at 401 Wall St Unit D Valparaiso, IN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,098 SF medical office condo with four private offices or exam rooms; Large treatment room can be divided into additional exam rooms; Reception area, kitchen, restroom, and basement storage included
