1202 Formula Drive, Valparaiso, IN 46383 (MLS# 353907)

1202 Formula Drive, Valparaiso, IN 46383

$900,000

Property Type: Commercial Sale Square Footage: 47,808 Lot Size (sq. ft.): 215,012 Status: Closed

Current Price: $900,000 List Date: 7/08/2014 Last Modified: 2/24/2024

Overview

Description

Superb revenue potential from these offices and particularly storage units with just a little attention. Fairly full tenancy with little to no marketing as to availability. Could also be combined for great development potential. Buildings also built 1976, 77, 79, & 80. Addl Parcel 641019103002000004. One story retail building 2.784 sq. ft.. Mini warehouse, 13 buildings, 14,184 sq. ft, 125 units, 60 *' overhead doors, 64 12 overhead doors, and 1 14' overhead door. Warehouse 3,840 sq. ft. Property being offered as is and subject to court approval. Information provided is accurate to the best of sellers knowledge and belief.

Listing Details MLS# 353907

General Property Information

Living Area: 47808
Building Area Source: Owner
Year Built: 1975
Lot Size Acres: 4.936
Lot Size Square Feet: 215012
Lot Size Dimensions: Irregular
Stories: Yes

Property Features

Building Features: Common Dock(s); Docks Community; Exposed Under Roof Ceiling(s); Mixed Use; Private Restrooms Construction Materials: Aluminum Siding; Block Cooling: Central Air; Window Unit(s) Current Use: Mini-Storage; Office Electric: 100 Amp Service; 150 Amp Service; 200+ Amp Service Flooring: Concrete Foundation Details: Concrete Perimeter Heating: Forced Air; Natural Gas; None Interior Features: Elevator Listing Terms: Cash; Conventional Parking Features: Common; Open; Paved; Unpaved Possible Use: Mini-Storage; Warehouse Rail Availability: None Road Frontage Type: Easement; Other Roof: Metal Security Features: Security Lights Tenant Pays: None Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Water Source: Public Showing Requirements: 24 Hour Notice; Listing Agent Must Accompany

Contract Information

Auction YN: No
Original List Price: 1060000
Property Sub Type: Office
Listing Agreement: Exclusive Right To Sell
Owner Name: Showing Appt Hotline
Owner Phone: 219-5487837
Occupant Type: Tenant
Occupant Name: Showing Appt Hotline

Location Tax and Legal

Street Number: 1202
Street Name: Formula
Street Suffix: Drive
County: Porter
State: IN
Postal Code: 46383
Subdivision Name: Blalock Orchard

Remarks and Miscellaneous

Public Remarks: Superb revenue potential from these offices and particularly storage units with just a little attention. Fairly full tenancy with little to no marketing as to availability. Could also be combined for great development potential. Buildings also built 1976, 77, 79, & 80. Addl Parcel 641019103002000004. One story retail building 2.784 sq. ft.. Mini warehouse, 13 buildings, 14,184 sq. ft, 125 units, 60 *' overhead doors, 64 12 overhead doors, and 1 14' overhead door. Warehouse 3,840 sq. ft. Property being offered as is and subject to court approval. Information provided is accurate to the best of sellers knowledge and belief.

Status Change Information

Major Change Timestamp: 2015-12-17T13:23:56Z
Major Change Type: Status Change
Status Change Timestamp: 2015-12-17
Offer Acceptance Date: 2015-12-02
Close Date: 2015-12-17
Close Price: 900000
Buyer Financing: Conventional

More Information

Building Features

Building Dimensions: various
Common Dock(s): Yes
Docks Community: Yes
Exposed Under Roof Ceiling(s): Yes
Mixed Use: Yes
Private Restrooms: Yes

Exemption Information

Exemption YN: Y

Income and Expenses

Expense Year: 2013
Gross Income: 86191
Gross Scheduled Income: 169514
Net Operating Income: 54328
New Taxes Expense: 24928
Electric Expense: 0
Insurance Expense: 0
Maintenance Expense: 0
Manager Expense: 0
Other Expense: 0
Professional Management Expense: 0
Sewer Expense: 0
Supplies Expense: 0
Total Actual Rent: 0
Trash Expense: 0
Water Expense: 0

Showing Requirements

Showing Instructions: Use Showing Asst or Showing Appt Hotline 219-548-7837, Use Showing Asst or Showing Appt Hotline 219-548-7837
24 Hour Notice: Yes
Listing Agent Must Accompany: Yes

Historical Information

Public Historical Remarks: Utilities: On, Air Cond/Ventilation: Office Only, Roof Structure: Pitched

Location, Tax, and Legal

Tax Legal Description: Legal Description: W 835.8 ft of Parcel 3 Bklalock Orchard Addition. W 50 ft of east 52 feet & of parcel 2, and parcel 3 except W 835.8 ft of parcel 3
Parcel Number: 641019103001000004
Township: Center
Directions: Roosevelt south of Evans and just south of RR track to Formula Dr which is just north of Elm.

Construction Materials

Aluminum Siding: Yes
Block: Yes

Cooling

Central Air: Yes
Window Unit(s): Yes

Electric

100 Amp Service: Yes
150 Amp Service: Yes
200+ Amp Service: Yes

Flooring

Concrete: Yes

Foundation Details

Concrete Perimeter: Yes

Heating

Forced Air: Yes
Natural Gas: Yes
None: Yes

Interior Features

Elevator: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Parking Features

Common: Yes
Open: Yes
Paved: Yes
Unpaved: Yes

Road Frontage Type

Easement: Yes
Other: Yes

Roof

Metal: Yes

Security Features

Security Lights: Yes

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Water Source

Public: Yes

Auction

Minimum Opening Bid: 0
Buyer Premium Amount: 0

Tenant Pays

None: Yes

Current Use

Mini-Storage: Yes
Office: Yes

Possible Use

Mini-Storage: Yes
Warehouse: Yes

Rail Availability

None: Yes

Listing Office: BHHS Indiana Realty

Last Updated: February - 24 - 2024

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