502 Wall Street, Valparaiso, IN 46383
$1,260,000
Property Type:
Commercial Sale
Square Footage:
11,270
Lot Size (sq. ft.):
60,984
Status:
Closed
Current Price:
$1,260,000
List Date:
6/13/2022
Last Modified:
2/24/2024
Overview
Description
Listing Details MLS# 514399
General Property Information
- Living Area
- 11270
- Building Area Source
- Assessor
- Year Built
- 1983
- Lot Size Acres
- 1.4
- Lot Size Square Feet
- 60984
- Lot Size Dimensions
- 243x251
- Waterfront YN
- No
- Stories
- Yes
Property Features
Building Features:
Exterior Lighting; Office Park Location; Private Restrooms; Other
Construction Materials:
Cedar; Frame
Cooling:
Central Air
Current Use:
Medical/Dental; Office
Electric:
Other
Flooring:
Carpet; Varies; Other
Foundation Details:
See Remarks
Heating:
Forced Air
Interior Features:
Elevator
Listing Terms:
Cash; Conventional
Parking Features:
Common; Paved
Possession:
Subject To Tenant Rights
Possible Use:
Medical/Dental; Office
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Fiberglass; Flat; Mixed; Rubber
Security Features:
Other
Tenant Pays:
Gas
Utilities:
Electricity Connected; Natural Gas Available; Natural Gas Connected; Sewer Connected
Water Source:
Public
Showing Requirements:
24 Hour Notice; Appointment Only
Contract Information
- Auction YN
- No
- Original List Price
- 1850000
- Property Sub Type
- Office
- Property Attached YN
- No
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 502
- Street Name
- Wall
- Street Suffix
- Street
- County
- Porter
- State
- IN
- Postal Code
- 46383
- Subdivision Name
- Vale Park South
Remarks and Miscellaneous
- Public Remarks
- Valparaiso professional office investment property with a proven long term history and quality current tenants. Nice mix of 6 spaces from 850 SF to 2400 SF, all currently occupied many with long term leases. Ave lease rates from $12/SF to just over $17/SF. Zoned Business Park BP. Quite a few exterior windows and rooms. Tenants include dental, medical, spa, music instruction, counseling, etc. Buildings offer covered drop off ellipses at the front doors, and layout of parking lot accomodates 51 spaces. Adjoining similar property also available on MLS, for a complete investor assemblage. Seller willing to work with 1031 Exchange buyer for those looking to plant their investment here. Location is phenomenal, near other medical, dental, counseling, and retail, just off the Calumet commercial corridor on the very near northside demographic heart of Valparaiso. 7.69 CAP. Seller is IN licensed real estate agent.
Status Change Information
- Major Change Timestamp
- 2024-02-18T02:08:05Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2024-02-18T02:08:05Z
- Status Change Timestamp
- 2023-05-09
- Offer Acceptance Date
- 2023-04-07
- Close Date
- 2023-05-09
- Close Price
- 1260000
- Concessions
- Yes
- Buyer Financing
- Conventional
More Information
Exemption Information
- Exemption YN
- Y
Frontage Type
- Frontage Length
- 243
Income and Expenses
- Electric Expense
- 2726
- Expense Year
- 2020
- Gross Scheduled Income
- 169125
- Insurance Expense
- 2757
- Net Operating Income
- 104472
- New Taxes Expense
- 11870
- Other Expense
- 3658
- Professional Management Expense
- 21008
- Trash Expense
- 1806
- Gross Income
- 0
- Maintenance Expense
- 0
- Manager Expense
- 0
- Sewer Expense
- 0
- Supplies Expense
- 0
- Total Actual Rent
- 0
- Water Expense
- 0
Showing Requirements
- Showing Instructions
- Use Showing Assist
- 24 Hour Notice
- Yes
- Appointment Only
- Yes
Historical Information
- Public Historical Remarks
- Zoning: BUSO, Utilities: On, Roof Structure: HIP
Location, Tax, and Legal
- Postal Code +4
- 2584
- Tax Legal Description
- Legal Description: VALE PARK SOUTH LOT 1 EX E 30
- Parcel Number
- 640913251005000004
- Zoning Description
- Business
- Township
- Center
- Directions
- From Calumet and Vale Park, go south on Calumet to Wall Street, and west (right) to property on left at corner of Wall St and Valparaiso Street.
- Cross Street
- Valparaiso St
Construction Materials
- Cedar
- Yes
- Frame
- Yes
Cooling
- Central Air
- Yes
Electric
- Other
- Yes
Flooring
- Carpet
- Yes
- Varies
- Yes
- Other
- Yes
Foundation Details
- See Remarks
- Yes
Heating
- Forced Air
- Yes
Interior Features
- Elevator
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Parking Features
- Common
- Yes
- Paved
- Yes
Possession
- Subject To Tenant Rights
- Yes
Road Frontage Type
- City Street
- Yes
Roof
- Fiberglass
- Yes
- Flat
- Yes
- Mixed
- Yes
- Rubber
- Yes
Security Features
- Other
- Yes
Utilities
- Electricity Connected
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
Water Source
- Public
- Yes
Auction
- Minimum Opening Bid
- 0
- Buyer Premium Amount
- 0
Tenant Pays
- Gas
- Yes
Current Use
- Medical/Dental
- Yes
- Office
- Yes
Possible Use
- Medical/Dental
- Yes
- Office
- Yes
Building Features
- Exterior Lighting
- Yes
- Office Park Location
- Yes
- Private Restrooms
- Yes
- Other
- Yes
Rail Availability
- None
- Yes
Listing Office:
RE/MAX Lifestyles
Last Updated: February - 24 - 2024
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2024 Triangle MLS, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.