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    Property profile & analytics

    1703 Calumet Ave Valparaiso, IN 46383

    • Strip malls
    • 11,544 SF
    • 1.05 lot acres
    For Sale
    View listing
    $65,000
    Last Sale
    Aug 02, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3505743
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 1703 Calumet Ave

    Year built
    2018
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.05 lot acres
    Property size
    11,544 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    64-09-13-401-035.000-004
    APU
    640913401035000004

    Description

    This exceptional Class A commercial building, constructed in 2018, offers 11,544 square feet of versatile office space in the heart of Valparaiso. Located at 1703 Calumet Ave, near Glendale, this single-story building sits on a 1.04-acre lot and features five suites, with a large vacant end-cap space of 3,900 square feet immediately available. The minimum divisible space is 1,950 square feet, with a maximum contiguous space of 3,900 square feet. The building boasts a modern design with high ceilings and ample natural light from large windows. Amenities include 49 parking spaces and convenient access via two customer entrances and a rear door. Each suite includes private bathrooms. Previous tenants include a fitness center, highlighting the adaptability of the space. The property is situated in a thriving commercial center alongside CVS and County Market, with other established businesses such as Pinnacle Dermatology, Geitonia Greek Grill, and Nutrition Lounge. The landlord is seeking a five-year lease with a 3% annual escalator. The base rent is $20 per square foot, plus an estimated $7 per square foot for NNN expenses (CAMs, insurance, and taxes). Utilities are the responsibility of the tenant. The landlord is open to negotiating tenant improvement allowances. APN: 640913401035000004.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $596,000
      Market price range: $261k - $597k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $420,000
      Current use
      AUTO REPAIR, GARAGE
      $875,000
      Change: +109% Conversion: Difficult
      RESTAURANT
      $860,000
      Change: +106% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $785,000
      Change: +88% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $655,000
      Change: +56% Conversion: Easy
      RETAIL STORES
      $635,000
      Change: +51% Conversion: Easy
      MEDICAL BUILDING
      $450,000
      Change: +8% Conversion: Difficult
      WAREHOUSE, STORAGE
      $450,000
      Change: +7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Valparaiso
    County
    Porter
    State
    Indiana
    Longitude
    -87.0523
    Latitude
    41.4843
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $33,999
    $146,700
    $1,156,700
    $1,303,400
    -
    $146,700
    $1,156,700
    $1,303,400

    Comparable in this City

    • Value Estimation
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      0.81 Acres

      71 81st 91st Silhavy Rd

      SHOPPING CENTER, STRIP CENTER • 0.81 Acres
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    • Value Estimation by Request
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      201 Us Hwy 30th, Unit 9

      SHOPPING CENTER, STRIP CENTER • 10,251 SF
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    • Value Estimation
      $870,000
      20,819 SF

      3002 Calumet Ave

      SHOPPING CENTER, STRIP CENTER • 20,819 SF
      3002 Calumet Ave, Valparaiso, IN 46383-2640
      View Details
    • Value Estimation by Request
      5,344 SF

      501-503 Silhavy Dr

      SHOPPING CENTER, STRIP CENTER • 5,344 SF
      501-503 Silhavy Dr, Valparaiso, IN 46383
      View Details
    • Value Estimation by Request
      16,000 SF

      2502 Beech St Ste, Unit 10

      SHOPPING CENTER, STRIP CENTER • 16,000 SF
      2502 Beech St Ste, Valparaiso, IN 46383-6215
      View Details
    • Value Estimation by Request
      16,000 SF

      2502 Beech St Ste, Unit 50

      SHOPPING CENTER, STRIP CENTER • 16,000 SF
      2502 Beech St Ste, Valparaiso, IN 46383-6215
      View Details

    Similar Nearby for Sale

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      Valparaiso Mixed-Use Commercial Property

      1,254 SF, 2.91 Acres, Prime Location
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      Valparaiso Commercial Property For Sale

      Two-lot commercial property in high-traffic Valparaiso location.
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      View Details
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      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
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      Retail Space in Silhavy Square

      Retail space available in a well-located Valparaiso shopping center.
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    • Contact for pricing
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      Valparaiso Retail Development Opportunity

      Retail development opportunity in Valparaiso's premiere power center.
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      Retail Spaces in Calumet Station

      Retail and office spaces available in a busy Valparaiso center.
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    • $10 SF/Yr

      Historic Downtown Valparaiso Leasing Opportunity

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      Calumet Station Retail Space Available

      Prime Retail Space, 1200 sq ft+
      1615 Calumet Ave, Valparaiso, IN 46383
      View Details
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    Valparaiso, IN 46383
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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