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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2301 Morthland Dr Valparaiso, IN 46383-8360

    • Hotels
    • 53,588 SF
    • 3.57 lot acres
    OFF-MARKET
    Value Estimations
    $2,750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3231135
    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

    • Hotels

    Property Details for 2301 Morthland Dr

    Year built
    1985
    Construction
    WOOD
    Lot size
    3.57 lot acres
    Property size
    53,588 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    64-10-30-251-004.000-004
    APU
    641030251004000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,751,000
      Market price range: $1000k - $4.58M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,750,000
      Current use
      AUTO REPAIR, GARAGE
      $4,070,000
      Change: +48% Conversion: Difficult
      RESTAURANT
      $4,000,000
      Change: +45% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,655,000
      Change: +33% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,040,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $2,940,000
      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
    -87.0325
    Latitude
    41.4594
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,165,000
      31,200 SF

      2101 Morthland Dr

      HOTEL/MOTEL • 31,200 SF
      2101 Morthland Dr, Valparaiso, IN 46383-5970
      View Details
    • Value Estimation by Request
      3,687 SF

      2810 Winchester Dr

      HOTEL/MOTEL • 3,687 SF
      2810 Winchester Dr, Valparaiso, IN 46383-2717
      View Details
    • Value Estimation
      $4,960,000
      58,720 SF

      1251 Silhavy Rd

      HOTEL/MOTEL • 58,720 SF
      1251 Silhavy Rd, Valparaiso, IN 46383-9578
      View Details
    • Value Estimation
      $2,905,000
      31,682 SF

      2020 Laporte Ave

      HOTEL/MOTEL • 31,682 SF
      2020 Laporte Ave, Valparaiso, IN 46383-5932
      View Details
    • Value Estimation
      $10,150,000
      45,731 SF

      1451 Silhavy Rd

      HOTEL/MOTEL • 45,731 SF
      1451 Silhavy Rd, Valparaiso, IN 46383-8426
      View Details
    • Value Estimation by Request
      4,724 SF

      1710 Vale Park Rd

      HOTEL/MOTEL • 4,724 SF
      1710 Vale Park Rd, Valparaiso, IN 46383-7301
      View Details

    Similar Nearby for Sale

    • $220,000
      1,254 SF

      Valparaiso Mixed-Use Commercial Property

      1,254 SF, 2.91 Acres, Prime Location
      680 Calumet Ave, Valparaiso, IN 46383
      View Details
    • $475,200
      1.99 Acres

      Valparaiso Commercial Land - $475,200

      1.99 Acres, Prime Valparaiso Location
      2510 Cumberland Dr, Valparaiso, IN 46383
      View Details
    • $525,000
      19.54 Acres

      Valparaiso Residential Land - 19.54 Acres

      Prime Residential Land, Valparaiso, IN
      275 East Dr, Valparaiso, IN 46383
      View Details
    • $72,000
      0.16 Acres

      Residential Land in Valparaiso, IN

      Land for sale in a desirable Valparaiso neighborhood.
      1109 Lafayette St, Valparaiso, IN 46383
      View Details
    • $65,000
      Pending

      Valparaiso Land Opportunity

      Prime land for residential development near Lincolnway commercial corridor.
      1703 Firestone Ln, Valparaiso, IN 46383
      View Details
    • $1,100,000
      10,086 SF

      Valparaiso Mixed-Use Commercial Building

      Multi-tenancy building in downtown Valparaiso with restaurant and office suites.
      13 Lincolnway, Valparaiso, IN 46383
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      5,860 SF

      Valparaiso Office Space Available

      Office space for rent in Valparaiso, Indiana.
      6 Morgan Blvd, Valparaiso, IN 46383
      View Details
    • $16 SF/Yr
      144 SF

      Downtown Valparaiso Office Space

      Two-story office building with elevator and private parking.
      15 N Franklin St, Valparaiso, IN 46383
      View Details
    • $22 SF/Yr
      908 SF

      Eastport Medical Office Space Available

      Former medical office space in Eastport development, Valparaiso.
      1251 Eastport Centre Dr, Valparaiso, IN 46383
      View Details
    • $19 SF/Yr
      16,328 SF

      Valparaiso Medical Office Building

      Prime Medical/Office Space Available
      1251 Eastport Centre Dr, Valparaiso, IN 46383
      View Details
    • $37 SF/Yr
      39,556 SF

      Valparaiso Market Place Retail Space

      High-traffic retail space, 1,680 sq ft available.
      2410 Laporte Ave, Valparaiso, IN 46383
      View Details
    • Contact for pricing
      17,010 SF

      Valparaiso Executive Office Space

      Downtown Valparaiso Office Suite Available
      15 Franklin St, Valparaiso, IN 46383
      View Details
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    Valparaiso, IN 46383-8360
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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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