Two-Story Mixed-Use
For Sale
$2,098,999
808 Vale Park Road, Valparaiso, IN 46383
Includes bank space with drive-through lanes and a second-floor hospice center.
Property Size13,000 SF
Lot Size2.00 Acres
Price / SF$154.25
Days on Market473
Property Features for 808 Vale Park Road
General Information
Standard status
Active
Size
13,000 SF
Lot size
2.00 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$36,000
Building Details
Year Built
1983
Buildings
1
Stories
2
Building Size
13,000 SF
Tenancy
Multi
Listing Agency:
Seramur Properties, LLC
(219) 508-4142
Listed By:
Alisha Fowler · License #RB16001172
(219) 508-4142
Source:
Exitrealty
Added: May 15, 2025
Changed: Aug 29
Last Checked: May 29 at 10:59AM
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 Seramur Properties, LLC
Investment Insights
Based on property information with market context.
This two-story mixed-use property includes 4,093 square feet occupied by Fifth Third, with drive-through lanes serving the bank space. An additional 2,485 square feet is located in the basement, while a Hospice Center occupies 4,536 square feet on the second floor. The building sits on nearly 2 acres near the intersection of Vale Park and Calumet Avenue in Valparaiso, Indiana. The property is positioned along the city’s North corridor, where extensive redevelopment is underway. A new medical center is adjacent to the site, adding established medical-use context to the surrounding area.
Key Highlights
- 4,093 square feet occupied by Fifth Third with drive‑through lanes
- Additional 2,485 square feet in the basement
- Hospice Center occupies 4,536 square feet on the second floor
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
$191,636
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
9.13%
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%
$3,832,720
$3.8M
Cap Rate 7%
$2,737,657
$2.7M
Cap Rate 9%
$2,129,289
$2.1M
Market Conditions
NOI Build-Up for 13,608 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
$285.8K $21.00/SF
− Vacancy
−$12.0K −$0.88/SF
EGI
$273.8K $20.12/SF
− OpEx
−$82.1K −$6.04/SF
NOI
$191.6K $14.08/SF
Area
Porter County, IN
Vacancy
4.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,832,720
Cap Rate 7%
$2,737,657
Cap Rate 9%
$2,129,289
Alternative Uses
Best Use
Healthcare Medical
$5.16M
$4.51M – $6.02M
NOI $361,028 @ 7.0% cap · market cap 17.20%
Second Best
Specialty Retail
$3.80M
$3.32M – $4.43M
NOI $265,917 @ 7.0% cap · market cap 12.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes bank space with drive-through lanes and a second-floor hospice center.
Where is this mixed-use property located?
The property is located at 808 Vale Park Road Valparaiso, IN.
What is the asking price?
The asking price for this property is $2,098,999.
What are key features of this property?
This property features: 4,093 square feet occupied by Fifth Third with drive‑through lanes; Additional 2,485 square feet in the basement; Hospice Center occupies 4,536 square feet on the second floor
