Flex Space with
For Sale
$289,000
908 Washington, Valparaiso, IN 46383
Commercial Sale, Valparaiso, IN
Property Size3,987 SF
Lot Size0.24 Acres
Price / SF$72.49
Days on Market79
Property Features for 908 Washington
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
3
Subdivision
Sissons Sub
View
City
Directions
From Calumet Ave & Evans Ave, Turn west on Evans Ave to Washington St. Turn south on Washington St the property is on the east side of the street.
Standard status
Active
APN
640924129001000004
Size
3,987 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SISSONS SUB LOT 165& 177 POWELLS ADD EXS38 LOT 17 & ALL LOT 18
Tax Annual Amount
3169
Legal Description
SISSONS SUB LOT 165& 177 POWELLS ADD EXS38 LOT 17 & ALL LOT 18
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1900
Listing Agency:
RE/MAX Lifestyles · RE/MAX International
(219) 462-2121
Listed By:
Matt Evans · License #RB14034485
(219) 241-8401
Added: Jul 20
Changed: Sep 6
Last Checked: Oct 6 at 9:06AM
MLS# 842634
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex-space property includes a primary building dating to circa 1900 with high ceilings, cement floors, and a two-unit layout. The building provides approximately 3,624 SF of office, workspace, and storage area. A separate 1950 block structure adds approximately 363 SF, bringing the combined building area to 3,987 SF; its floor has collapsed and requires reconstruction.
The 0.24-acre property is located at 908 Washington in downtown Valparaiso, near the new Valpo REC. Site features include a gravel drive, natural gas heating, public water, and public sewer. The property is zoned CN, with zoning and prospective-use compatibility subject to verification with the city.
The 0.24-acre property is located at 908 Washington in downtown Valparaiso, near the new Valpo REC. Site features include a gravel drive, natural gas heating, public water, and public sewer. The property is zoned CN, with zoning and prospective-use compatibility subject to verification with the city.
Key Highlights
- 3,987 SF total building area on 0.24 acres
- Circa 1900 main building with approximately 3,624 SF
- Two‑unit configuration with office, workspace, and storage areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,693
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,860
$473.9K
Cap Rate 7%
$338,471
$338.5K
Cap Rate 9%
$263,256
$263.3K
Market Conditions
NOI Build-Up for 3,987 SF
Gross rent
$39.7K $9.96/SF
− Vacancy
−$3.3K −$0.82/SF
EGI
$36.5K $9.14/SF
− OpEx
−$12.8K −$3.20/SF
NOI
$23.7K $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 Rate 5%
$473,860
Cap Rate 7%
$338,471
Cap Rate 9%
$263,256
Alternative Uses
Best Use
Office B
$684.2K
$598.7K – $798.3K
NOI $47,897 @ 7.0% cap · market cap 16.57%
Second Best
Flex RnD
$338.5K
$296.2K – $394.9K
NOI $23,693 @ 7.0% cap · market cap 8.20%
Theoretical Best
Healthcare Medical
$1.51M
$1.32M – $1.76M
NOI $105,777 @ 7.0% cap · market cap 36.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,051
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Flex space - CN-zoned commercial property combining office, workspace, and storage areas with public water and sewer service.
Where is this flex space located?
The property is located at 908 Washington Valparaiso, IN.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 3,987 SF total building area on 0.24 acres; Circa 1900 main building with approximately 3,624 SF; Two‑unit configuration with office, workspace, and storage areas
