450 Vale Park Road, Valparaiso, IN 46385
$675,000
Property Type:
Commercial Sale
Square Footage:
5,866
Lot Size (sq. ft.):
13,939
Status:
Closed
Current Price:
$675,000
List Date:
3/30/2022
Last Modified:
2/22/2024
Overview
Description
Listing Details MLS# 509843
General Property Information
- Living Area
- 5866
- Building Area Source
- Assessor
- Year Built
- 1994
- Lot Size Acres
- 0.32
- Lot Size Square Feet
- 13939
- Lot Size Dimensions
- IRR
- Waterfront YN
- No
Property Features
Building Features:
Exterior Lighting; Lunch Room; Office Park Location; Public Restrooms; Sheet Rock Ceiling(s); Other
Construction Materials:
Block; Brick; Other
Cooling:
Central Air
Current Use:
Office
Flooring:
Carpet; Varies
Foundation Details:
Concrete Perimeter
Heating:
Forced Air
Interior Features:
Elevator
Listing Terms:
Cash; Conventional
Parking Features:
Common; Paved
Possession:
Subject To Tenant Rights
Possible Use:
Office
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Composition; Other
Security Features:
Other
Tenant Pays:
Gas; Water
Utilities:
Electricity Available; Electricity Connected; Natural Gas Connected; Sewer Connected
Water Source:
Public
Showing Requirements:
24 Hour Notice; Listing Agent Must Accompany
Contract Information
- Auction YN
- No
- Original List Price
- 685000
- Property Sub Type
- Office
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 450
- Street Name
- Vale Park
- Street Suffix
- Road
- County
- Porter
- State
- IN
- Postal Code
- 46385
- Subdivision Name
- Keystone Commons
Remarks and Miscellaneous
- Public Remarks
- Beautiful brick office building at Keystone Commons' Lamplight Square in Valparaiso on a prime corner nearValpo High School. This investment property currently is arranged with 7 separate professional office tenants across 10 suites plus a reception & file room.Several of the suites are finished Class A/B. Main floor has two bathrooms, and kitchenette with two more bathrooms in lower level. Has upper entrance fromwest parking area, plus lower level walk-out entrance from north parking area. Each suite has exterior windows. Lamplight has an ample amount of sharedparking to choose from. POA fees are approximately $718/month for common area maintenance and insurance. One AC unit replaced 2021, other AC unitreplaced within the last few years, and front steps and walkway were completely replaced last year.
Status Change Information
- Major Change Timestamp
- 2024-02-16T20:51:56Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2024-02-16T20:51:56Z
- Status Change Timestamp
- 2023-12-20
- Offer Acceptance Date
- 2023-03-16
- Close Date
- 2023-12-20
- Close Price
- 675000
- Concessions
- Yes
- Buyer Financing
- Cash
More Information
Exemption Information
- Exemption YN
- Y
Income and Expenses
- Electric Expense
- 9853
- Expense Year
- 2021
- Gross Scheduled Income
- 87802
- Insurance Expense
- 4000
- Net Operating Income
- 51717
- New Taxes Expense
- 10465
- Total Actual Rent
- 87802
Showing Requirements
- Showing Instructions
- Use Showing Assist
Historical Information
- Public Historical Remarks
- Zoning: COMM, Utilities: On, Frontage Access: Signal Intersection, Roof Structure: HIP
Listing Office:
RE/MAX Lifestyles
Last Updated: February - 22 - 2024
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