Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3550 State Rd 2nd 2 Valparaiso, IN 46385-9051

    • Grocery and convenience stores
    • 3,253 SF
    • 1.03 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0388006
    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

    • Grocery and convenience stores

    Property Details for 3550 State Rd 2nd 2

    Year built
    1997
    Construction
    WOOD
    Lot size
    1.03 lot acres
    Property size
    3,253 SF
    Property type
    Grocery and convenience stores
    APN
    64-09-33-478-002.000-003
    APU
    640933478002000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Valparaiso
    County
    Porter
    State
    Indiana
    Longitude
    -87.108
    Latitude
    41.4375
    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
    $5,532
    $84,800
    $227,000
    $311,800
    -
    $84,800
    $227,000
    $311,800

    Comparable in this City

    • Value Estimation by Request
      2,240 SF

      1291 Morthland Dr

      CONVENIENCE STORE • 2,240 SF
      1291 Morthland Dr, Valparaiso, IN 46385
      View Details
    • Value Estimation by Request
      3,600 SF

      363 Us Hwy 6th 6

      CONVENIENCE STORE • 3,600 SF
      363 Us Hwy 6th 6, Valparaiso, IN 46385-7914
      View Details
    • Value Estimation
      $3,165,000
      86,840 SF

      2168 Morthland Dr

      GROCERY, SUPERMARKET • 86,840 SF
      2168 Morthland Dr, Valparaiso, IN 46385-5437
      View Details
    • Value Estimation by Request
      2,400 SF

      253 475th W

      CONVENIENCE STORE • 2,400 SF
      253 475th W, Valparaiso, IN 46385-9266
      View Details
    • Value Estimation by Request
      3,024 SF

      298 Us Hwy 6th 6

      CONVENIENCE STORE • 3,024 SF
      298 Us Hwy 6th 6, Valparaiso, IN 46385-7911
      View Details
    • Value Estimation by Request
      4,320 SF

      752 Lincolnway

      CONVENIENCE STORE • 4,320 SF
      752 Lincolnway, Valparaiso, IN 46385-5533
      View Details

    Similar Nearby for Sale

    • $300,000
      1.24 Acres

      Shorewood Forest Lake View Lot

      1.24 acre lot with lake access in Shorewood Forest.
      446 Surrey Hill Ln, Valparaiso, IN 46385
      View Details
    • $799,000
      8,054 SF

      Valparaiso Warehouse and Office Space

      8000+ sqft warehouse and office space for sale.
      457 S Campbell St, Valparaiso, IN 46385
      View Details
    • $56,000
      1.03 Acres

      Valparaiso Land with Lake View

      1.03 acre lot in Liberty Lakes gated community.
      Freedom Lk Ct N, Valparaiso, IN 46385
      View Details
    • $284,900
      1.23 Acres

      Valparaiso Commercial Land For Sale

      Commercial land on State Highway 2, near Highway 30.
      1465 Clark Rd, Valparaiso, IN 46385
      View Details
    • $89,900
      0.79 Acres

      Valparaiso Industrial Land For Sale

      0.7 acre industrial land with Highway 130 frontage.
      1950 St Rd, Valparaiso, IN 46385
      View Details
    • Contact for pricing

      Investment Property with Water Source

      Commercial land serving as exclusive water source for subdivision.
      792 Merganser Ln, Valparaiso, IN 46385
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      958 SF

      Retail Space on US Highway

      Retail property on US Highway 30 in Valparaiso, Indiana.
      2168-2256 Morthland Dr, Valparaiso, IN 46385
      View Details
    • $2,400 /Mo
      1,477 SF

      Valparaiso Commercial Building For Lease

      Two-story building suited for office or retail use in Valparaiso.
      755 W Chicago St, Valparaiso, IN 46385
      View Details
    • Contact for pricing
      826 SF

      Retail Space in Valparaiso Center

      Retail spaces available in Valparaiso, anchored by Save-A-Lot.
      390 W Us Highway 6, Valparaiso, IN 46385
      View Details
    • Contact for pricing

      Retail Spaces at South Haven Square

      Retail and office suites available in high-traffic Valparaiso location.
      390-392 W Us Highway 6, Valparaiso, IN 46385
      View Details
    • New
      $800 /Mo
      240 SF

      Valparaiso Office Space For Rent

      Main floor office with utilities and internet included.
      470 Vale Park Rd, Valparaiso, IN 46385
      View Details
    • $10 SF/Yr

      Industrial Building with Drive-In Doors

      2,026 SF industrial space with three drive-in doors.
      1950 Joliet Rd, Valparaiso, IN 46385
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3550 State Rd 2nd 2
    Valparaiso, IN 46385-9051
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!