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Property profile & analytics
FOR LEASE
Medical Office Space
502 Wall St Valparaiso, IN 46383
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0619492
For Lease
1 / 4
Contact for pricing
502 Wall St, Valparaiso, IN 46383
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1983
Construction
WOOD
Total area
11,270 SF
Lot
1.4 ac (60,984 SF)
APN
64-09-13-251-005.000-004
UPID
US31-0619492
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Deans Properties LLC · 3 yrs held
Deans Properties LLC
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Valparaiso submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Valparaiso submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,619
Tax year 2023
Assessed value
$480,600
Assessed 2023
Previous assessed
$480,600
+0.0% YoY
Effective rate
2.63%
On assessed value
Assessed land
$182,400
Assessed improvement
$298,200
Land market value
$182,400
Improvement market value
$298,200
Total market value
$480,600
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1983
Construction
WOOD
Heating
NONE
Stories
1
Total area
11,270 SF
Lot
1.4 ac (60,984 SF)
APN
64-09-13-251-005.000-004
UPID
US31-0619492
Jurisdiction
PORTER
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1983
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.4 ac
Current owner
From public records · entity-resolved
Deans Properties LLC
Entity
Mailing address
238 KENNEDY AVE, SCHERERVILLE, IN 46375-1231
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2025
—
Deans Properties LLC
—
Deed
related
$1,040,000 · Tech Cu
May 10, 2023
$1,260,000
Deans Properties LLC
502 Wall St LLC
Warranty Deed
$1,008,000 · Purdue Federal Cu
Apr 19, 2017
—
Valparaiso Health Care
—
Deed
related
$7,125,000 · United Cmnty Bk
May 15, 2015
—
502 Wall St LLC
Welter Matthew W
Quit Claim Deed
related
—
Dec 31, 2014
—
Matthew W Welter
Deboer,david L
Grant Deed
$1,091,250 · David Deboer
Jul 13, 2009
—
Wall Street Investments LLC
—
Deed Of Trust
related
$1,000,000 · Donna Draper
Mar 12, 2009
—
Wall Street Investments LLC
Wall Street Ptshp
Quit Claim Deed
related
—
—
—
Valparaiso Health Care
—
Deed Of Trust
related
$7,125,000 · United Cmnty Bk
—
—
Wall Street Ptshp
—
Deed Of Trust
related
$1,307,500 · Mercantile Nat'l Bank Indiana
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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