Move-In Ready Office
For Sale
$235,000
830 E 1050 N, Chesterton, IN 46304
Second-floor office condo with private street entrance, multiple offices, and an open administrative area.
Property Size1,410 SF
Price / SF$166.67
Days on Market144
Property Features for 830 E 1050 N
General Information
Standard status
Active
Size
1,410 SF
Taxes and HOA fees
Annual Taxes
$3,081
Listing Agency:
Century 21 Alliance Group
(219) 462-2090
Listed By:
Nicholas Sommer · License #RB14050981
(219) 405-8596
Source:
Exprealty
Added: Apr 22
Changed: Sep 2
Last Checked: Sep 12 at 12:12PM
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.
This second-floor office condo offers a move-in ready layout designed for professional use. The space features modern, stylish decor with hardwood floors and recessed lighting throughout. It includes a bathroom with a shower, three spacious private offices overlooking Coffee Creek, and a larger administrative area supported by an open floor plan. Natural light is present through the day, supporting a functional work environment.
Access is provided via a private entrance off the street. The property is described as professionally managed by First American Property Management, which may help simplify ongoing building and operational coordination.
For buyers seeking an office unit that balances private workspaces with collaborative or administrative functionality, this configuration supports day-to-day operations. The combination of three enclosed offices, a main administrative area, and an open plan can fit a range of professional service users, while the in-unit bathroom with shower adds practical convenience for staff and clients.
Access is provided via a private entrance off the street. The property is described as professionally managed by First American Property Management, which may help simplify ongoing building and operational coordination.
For buyers seeking an office unit that balances private workspaces with collaborative or administrative functionality, this configuration supports day-to-day operations. The combination of three enclosed offices, a main administrative area, and an open plan can fit a range of professional service users, while the in-unit bathroom with shower adds practical convenience for staff and clients.
Key Highlights
- Second‑floor office condo with private street entrance
- Includes hardwood floors and recessed lighting
- Features a bathroom with shower
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
$16,939
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
7.21%
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%
$338,780
$338.8K
Cap Rate 7%
$241,986
$242.0K
Cap Rate 9%
$188,211
$188.2K
Market Conditions
NOI Build-Up for 1,410 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
$24.0K $17.04/SF
− Vacancy
−$1.4K −$1.02/SF
EGI
$22.6K $16.02/SF
− OpEx
−$5.6K −$4.00/SF
NOI
$16.9K $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%
$338,780
Cap Rate 7%
$241,986
Cap Rate 9%
$188,211
Alternative Uses
Best Use
Office B
$242.0K
$211.7K – $282.3K
NOI $16,939 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$534.4K
$467.6K – $623.5K
NOI $37,408 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
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Business Placement
Demographics for 46304, IN
26,835
Population
11,521
Households
2.3
Avg Household Size
41
Median Age
35%
College-Educated
96%
High-School Grad
57.8 sq mi
ZIP Area
464
Density / Sq Mi
$88,551
Median Household Income
$52,704
Median Earnings
$1,169
Median Rent
$278,300
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office condo with private street entrance, multiple offices, and an open administrative area.
Where is this office units located?
The property is located at 830 E 1050 N Chesterton, IN.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Second‑floor office condo with private street entrance; Includes hardwood floors and recessed lighting; Features a bathroom with shower
