402 Wall Street, Valparaiso, IN 46383
$1,025,000
Property Type:
Commercial Sale
Square Footage:
14,440
Lot Size (sq. ft.):
65,993
Status:
Closed
Current Price:
$1,025,000
List Date:
2/18/2022
Last Modified:
6/19/2024
Overview
Description
Listing Details MLS# 507771
General Property Information
- Living Area
- 14440
- Building Area Source
- Assessor
- Accessibility Features YN
- Yes
- Year Built
- 1986
- Lot Size Acres
- 1.515
- Lot Size Square Feet
- 65993
- Lot Size Dimensions
- 300' x 220'
- Stories
- Yes
Property Features
Building Features:
Acoustical Ceiling(s); Business District Location; Courtyard; Exterior Lighting; Multi Tenant; Office Park Location; Sheet Rock Ceiling(s); Suspended Ceiling(s)
Construction Materials:
Brick; Frame
Cooling:
Central Air
Current Use:
Medical/Dental; Office
Electric:
100 Amp Service; 150 Amp Service; 200+ Amp Service
Flooring:
Carpet; Varies; Other
Foundation Details:
Concrete Perimeter
Heating:
Forced Air; Natural Gas
Interior Features:
Elevator
Listing Terms:
Cash; Conventional
Lot Features:
Corner Lot
Parking Features:
Common; Lighted; Paved
Possession:
Subject To Tenant Rights
Possible Use:
Medical/Dental; Office
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Composition
Utilities:
Electricity Connected; Natural Gas Available; 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
- 1299999
- Property Sub Type
- Office
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 402
- Street Name
- Wall
- Street Suffix
- Street
- County
- Porter
- State
- IN
- Postal Code
- 46383
- Subdivision Name
- Vale Park South
Remarks and Miscellaneous
- Public Remarks
- Excellent investment opportunity on 1.52 acres with 14,440 sf of leasable office space at southeast corner of Wall St & Valparaiso St. There are 6 - 2,400 sf single-story brick buildings connected through a series of breezeways creating two open courtyard areas. A total of 13 office suites, but flexibility to divide up or consolidate office spaces. Property is well maintained and professionally landscaped. Buildings built over a crawl space making repairs and utility extensions convenient. Site has +/- 60 off-street paved parking spots accessible from Wall St & Valparaiso St. Multitenant signage located along Wall St with signage also at entryways from the parking lot. The property is located on the north side of town between two major N/S thoroughfares: Calumet Ave & Valparaiso St and two E/W thoroughfares: Glendale Blvd & Vale Park Rd all with high daily traffic counts. Borders residential and other medical/dental, professional services, multi-tenant, and institutional spaces.
Status Change Information
- Major Change Timestamp
- 2024-02-18T02:07:41Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2024-02-18T02:07:41Z
- Status Change Timestamp
- 2023-01-13
- Offer Acceptance Date
- 2022-11-01
- Close Date
- 2023-01-13
- Close Price
- 1025000
- Concessions
- No
- Buyer Financing
- Conventional
More Information
Building Features
- Building Dimensions
- 6 buildings each approximately 40' x 60'
- Number of Offices
- 13
- Acoustical Ceiling(s)
- Yes
- Business District Location
- Yes
- Courtyard
- Yes
- Exterior Lighting
- Yes
- Multi Tenant
- Yes
- Office Park Location
- Yes
- Sheet Rock Ceiling(s)
- Yes
- Suspended Ceiling(s)
- Yes
Exemption Information
- Exemption YN
- Y
Frontage Type
- Frontage Length
- 300
Income and Expenses
- Expense Year
- 2021
- Gross Scheduled Income
- 184237
- Insurance Expense
- 2920
- Net Operating Income
- 65099
- New Taxes Expense
- 25894
- Professional Management Expense
- 1944
- Total Actual Rent
- 184237
- Trash Expense
- 788
- Electric Expense
- 0
- Gross Income
- 0
- Maintenance Expense
- 0
- Manager Expense
- 0
- Other Expense
- 0
- Sewer Expense
- 0
- Supplies Expense
- 0
- Water Expense
- 0
Showing Requirements
- Showing Instructions
- Showings by appointment only and 24 hour notice required.
- 24 Hour Notice
- Yes
- Listing Agent Must Accompany
- Yes
Historical Information
- Public Historical Remarks
- Utilities: On, Roof Structure: Gable, Office Sq. Ft.:
Location, Tax, and Legal
- Postal Code +4
- 2562
- Tax Legal Description
- Legal Description: VALE PARK SOUTH LOT 2 DR484 P551 & 552
- Parcel Number
- 640913251001000004
- Township
- Center
- Directions
- From SR 49: Take 400 N (Vale Park Road) west to Valparaiso Street (approximately 1.5 miles), turn left (south) until Wall Street (approximately .5 miles). Property is located on southeast corner of Wall Street and Valparaiso Street.
Construction Materials
- Brick
- Yes
- Frame
- Yes
Cooling
- Central Air
- Yes
Electric
- 100 Amp Service
- Yes
- 150 Amp Service
- Yes
- 200+ Amp Service
- Yes
Flooring
- Carpet
- Yes
- Varies
- Yes
- Other
- Yes
Foundation Details
- Concrete Perimeter
- Yes
Heating
- Forced Air
- Yes
- Natural Gas
- Yes
Interior Features
- Elevator
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Lot Features
- Corner Lot
- Yes
Parking Features
- Common
- Yes
- Lighted
- Yes
- Paved
- Yes
Possession
- Subject To Tenant Rights
- Yes
Road Frontage Type
- City Street
- Yes
Roof
- Composition
- Yes
Utilities
- Electricity Connected
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Water Source
- Public
- Yes
Auction
- Minimum Opening Bid
- 0
- Buyer Premium Amount
- 0
Current Use
- Medical/Dental
- Yes
- Office
- Yes
Possible Use
- Medical/Dental
- Yes
- Office
- Yes
Rail Availability
- None
- Yes
Listing Office:
RE/MAX Lifestyles
Last Updated: June - 19 - 2024
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