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'
- Waterfront YN
- No
- 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
Special Listing Conditions:
Agent Owned / Interest
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
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
Showing Requirements
- Showing Instructions
- Showings by appointment only and 24 hour notice required.
Historical Information
- Public Historical Remarks
- Utilities: On, Roof Structure: Gable, Office Sq. Ft.:
Listing Office:
RE/MAX Lifestyles
Last Updated: June - 19 - 2024
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