Two-Story Mixed-Use
New
For Sale
$2,000,000
808 Vale Park Rd, Valparaiso, IN 46383
Banking and hospice operations occupy separate areas, with drive-through lanes serving the banking component.
Property Size13,608 SF
Price / SF$146.97
Days on Market2
Property Features for 808 Vale Park Rd
General Information
Standard status
Active
Size
13,608 SF
Additional Details
Drive-Thru
Yes
Building Details
Year Built
1983
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Seramur Properties, LLC
Listed By:
Alisha Fowler · License #RB16001172
(219) 241-4039
Source:
Realtopiare
Added: Sep 12
Last Checked: Sep 12 at 2:31PM
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.
Built in 1983, this two-story mixed-use building accommodates banking and hospice operations within a substantial commercial property. Fifth Third uses 4,093 square feet on the main level, plus 2,485 square feet in the basement, and the banking area includes drive-through lanes. A Hospice Center occupies 4,536 square feet on the second floor.
The property encompasses nearly 2 acres near the intersection of Vale Park and Calumet Avenue in Valparaiso. A new medical center is directly adjacent, while the surrounding North corridor is undergoing extensive redevelopment. The combination of established occupants, multiple interior levels, drive-through infrastructure, and a sizable site creates a varied commercial property profile.
The property encompasses nearly 2 acres near the intersection of Vale Park and Calumet Avenue in Valparaiso. A new medical center is directly adjacent, while the surrounding North corridor is undergoing extensive redevelopment. The combination of established occupants, multiple interior levels, drive-through infrastructure, and a sizable site creates a varied commercial property profile.
Key Highlights
- Nearly 2‑acres near the intersection of Vale Park and Calumet Avenue
- Two‑story building constructed in 1983
- Fifth Third occupies 4,093 square feet plus 2,485 square feet in the basement
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
$124,717
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
6.24%
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%
$2,494,340
$2.5M
Cap Rate 7%
$1,781,671
$1.8M
Cap Rate 9%
$1,385,744
$1.4M
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
$212.3K $15.60/SF
− Vacancy
−$12.7K −$0.94/SF
EGI
$199.5K $14.66/SF
− OpEx
−$74.8K −$5.50/SF
NOI
$124.7K $9.17/SF
Area
Porter County, IN
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,494,340
Cap Rate 7%
$1,781,671
Cap Rate 9%
$1,385,744
Alternative Uses
Best Use
Healthcare Medical
$5.16M
$4.51M – $6.02M
NOI $361,028 @ 7.0% cap · market cap 18.05%
Second Best
Specialty Retail
$3.80M
$3.32M – $4.43M
NOI $265,917 @ 7.0% cap · market cap 13.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Banking and hospice operations occupy separate areas, with drive-through lanes serving the banking component.
Where is this mixed-use property located?
The property is located at 808 Vale Park Rd Valparaiso, IN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Nearly 2‑acres near the intersection of Vale Park and Calumet Avenue; Two‑story building constructed in 1983; Fifth Third occupies 4,093 square feet plus 2,485 square feet in the basement
