Commercial Building with Overhead
For Sale
$1,300,000
906 Calumet Ave, Valparaiso, IN 46383
Flexible commercial building with five overhead doors, offices, fenced yard, and truck-friendly access for versatile operations.
Property Size10,388 SF
Lot Size0.76 Acres
Price / SF$125.14
Days on Market86
Property Features for 906 Calumet Ave
General Information
Standard status
Active
Size
10,388 SF
Lot size
0.76 Acres
Zoning
Commercial
Additional Details
Fenced Yard
Yes
Drive-In Doors
5
Taxes and HOA fees
Annual Taxes
$7,046
Listing Agency:
Evolution Real Estate Solution
(219) 465-8511
Listed By:
Kenneth Blaney · License #RB14026305
(219) 465-8511
Source:
Exprealty
Added: May 31
Changed: Aug 23
Last Checked: Aug 22 at 7:50AM
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 Evolution Real Estate Solution
Investment Insights
Based on property information with market context.
The property is a 10,388 square foot commercial building on 0.76 acres, designed for both operational and administrative use. It includes five large overhead doors that support loading, unloading, and workshop access, along with offices for private workspaces and administrative needs. The building is described as having solid construction, high ceilings, and an open floor plan intended to accommodate a range of layouts and workflows.
The site offers practical improvements for day-to-day operations, including ample on-site parking and yard space. The property is fenced in and positioned in a high-visibility, accessible commercial corridor, with access intended to work well for trucks and deliveries.
For tenants or buyers seeking a flexible setup that combines warehousing or service capabilities with dedicated office space, this configuration can support a variety of commercial and warehouse uses. The overhead door count, fenced yard, and truck-oriented access make it well suited for businesses that require regular inbound and outbound handling while maintaining on-site administrative space.
The site offers practical improvements for day-to-day operations, including ample on-site parking and yard space. The property is fenced in and positioned in a high-visibility, accessible commercial corridor, with access intended to work well for trucks and deliveries.
For tenants or buyers seeking a flexible setup that combines warehousing or service capabilities with dedicated office space, this configuration can support a variety of commercial and warehouse uses. The overhead door count, fenced yard, and truck-oriented access make it well suited for businesses that require regular inbound and outbound handling while maintaining on-site administrative space.
Key Highlights
- 10,388 SF commercial building on 0.76 acres with flexible space for commercial and warehouse uses
- Five (5) large overhead doors for loading, unloading, or workshop access
- Includes office space with private workspaces for administrative and work functions
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
$61,731
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
4.75%
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%
$1,234,620
$1.2M
Cap Rate 7%
$881,871
$881.9K
Cap Rate 9%
$685,900
$685.9K
Market Conditions
NOI Build-Up for 10,388 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
$103.5K $9.96/SF
− Vacancy
−$8.5K −$0.82/SF
EGI
$95.0K $9.14/SF
− OpEx
−$33.2K −$3.20/SF
NOI
$61.7K $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 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%
$1,234,620
Cap Rate 7%
$881,871
Cap Rate 9%
$685,900
Alternative Uses
Best Use
Flex RnD
$881.9K
$771.6K – $1.03M
NOI $61,731 @ 7.0% cap · market cap 4.75%
Second Best
Warehouse
$716.0K
$626.5K – $835.4K
NOI $50,123 @ 7.0% cap · market cap 3.86%
Theoretical Best
Healthcare Medical
$3.94M
$3.44M – $4.59M
NOI $275,599 @ 7.0% cap · market cap 21.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Under-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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Beef Mart of Valparaiso — 614 Roosevelt Rd, Valparaiso, IN 46383
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with five overhead doors, offices, fenced yard, and truck-friendly access for versatile operations.
Where is this flex space located?
The property is located at 906 Calumet Ave Valparaiso, IN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 10,388 SF commercial building on 0.76 acres with flexible space for commercial and warehouse uses; Five (5) large overhead doors for loading, unloading, or workshop access; Includes office space with private workspaces for administrative and work functions
