Second-Floor Office
For Sale
$235,000
Pending
830 E Sidewalk Rd, Chesterton, IN 46304
Flexible office layout with private rooms, administrative workspace, natural light, and a dedicated street-level entrance.
Property Size1,410 SF
Days on Market196
Property Features for 830 E Sidewalk Rd
General Information
Standard status
Pending
Size
1,410 SF
Property subtype
Commercial
Additional Details
Floor
Second Floor
Building Details
Year Built
2008
Listing Agency:
Century 21 Alliance Group
Listed By:
Nicholas Sommer · License #RB14050981
(219) 462-2090
Source:
Nwindianahomesearcher
Added: Mar 1
Changed: Sep 12
Last Checked: Sep 12 at 2:25PM
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 1,410-square-foot office condo occupies the second floor of a 2008 commercial building at 830 E Sidewalk Rd in Chesterton, Indiana. The layout includes three private offices, a sizable administrative area, and an open workspace with natural light. Hardwood flooring and recessed lighting add defined interior finishes, while the bathroom includes a shower.
A private entrance provides access from the street, and several offices overlook Coffee Creek. The property is professionally managed by First American Property Management, offering an established management arrangement for the office unit.
A private entrance provides access from the street, and several offices overlook Coffee Creek. The property is professionally managed by First American Property Management, offering an established management arrangement for the office unit.
Key Highlights
- 1,410 SF second‑floor office condo
- Three private offices plus a large administrative area
- Open workspace with natural light
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
99
Businesses Nearby
Explore this area
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 - Flexible office layout with private rooms, administrative workspace, natural light, and a dedicated street-level entrance.
Where is this office units located?
The property is located at 830 E Sidewalk Rd 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: 1,410 SF second‑floor office condo; Three private offices plus a large administrative area; Open workspace with natural light
