Flex Space with Heated
431 E Us Highway 6, Valparaiso, IN 46383
For Sale
$345,000
Commercial Sale, Valparaiso, IN
Property Size2,300 SF
Lot Size0.85 Acres
Price / SF$150
Days on Market278
Property Features for 431 E Us Highway 6
General Information
Property type
Property subtype
Parking
Parking features
Appliances
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Water source
Amenities
heated shop
concrete floors
restroom with shower
private office
open administrative area
Building Details
Year built
Listing Agency:
RE/MAX Lifestyles · RE/MAX International
(219) 462-2121
Listed By:
Matt Evans
(219) 241-8401
Added: Feb 6
Changed: Oct 1
Last Checked: Nov 10 at 6:06PM
MLS# 833709
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 2,300-square-foot flex property sits on 0.85 acres along US Highway 6. Its heated shop has three service bays and concrete floors, with two 10-foot overhead doors and one 14-foot door. Office space includes a private room and a larger open administrative area; a restroom with a shower is also on site.
The building was constructed in 1940 and has forced-air heat. Water is supplied by a well, and the property uses a septic system. Any intended use is subject to buyer verification with Porter County.
The building was constructed in 1940 and has forced-air heat. Water is supplied by a well, and the property uses a septic system. Any intended use is subject to buyer verification with Porter County.
Key Highlights
- 2,300‑square‑foot building on a 0.85‑acre lot
- Heated shop with three service bays and concrete floors
- Two 10‑foot overhead doors and one 14‑foot overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,668
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,360
$273.4K
Cap Rate 7%
$195,257
$195.3K
Cap Rate 9%
$151,867
$151.9K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$22.9K $9.96/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$21.0K $9.14/SF
− OpEx
−$7.4K −$3.20/SF
NOI
$13.7K $5.94/SF
Area
Porter County, IN
Vacancy
8.21%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,360
Cap Rate 7%
$195,257
Cap Rate 9%
$151,867
Alternative Uses
Best Use
Retail
$462.7K
$404.9K – $539.8K
NOI $32,390 @ 7.0% cap · market cap 9.39%
Second Best
Flex RnD
$195.3K
$170.9K – $227.8K
NOI $13,668 @ 7.0% cap · market cap 3.96%
Theoretical Best
Healthcare Medical
$871.7K
$762.8K – $1.02M
NOI $61,020 @ 7.0% cap · market cap 17.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Drive-in doors
3
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
29
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A heated three-bay workspace is paired with private office, administrative area, and a restroom with shower.
Where is this flex space located?
The property is located at 431 E Us Highway 6 Valparaiso, IN.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 2,300‑square‑foot building on a 0.85‑acre lot; Heated shop with three service bays and concrete floors; Two 10‑foot overhead doors and one 14‑foot overhead door
