502 Marquette St
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502 Marquette St
4,263 SF Office Building Valparaiso, IN 46383 £559,452 (£131/SF) 8.60% Net Initial Yield
Investment Highlights
- 8.6% CAP Rate on Single Tenant Occupant
- Class A Office
- Prime Commercial Office Medical District
Executive Summary
Excellent investment opportunity. All brick Class A office building in Valparaiso's Medical District. Single tenant occupies at least into 2027. Current lease is a modified gross. The building has 13 private offices, a large conference room, 2 kitchens, 3 bathrooms, and 2 administrative areas. The power is 3 phase 440 amp service. Newly surfaced 30 space parking lot. HVAC units are 4 years old.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£61,814
|
£10.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£61,814
|
£10.01
|
| Taxes |
£6,988
|
£1.13
|
| Operating Expenses |
£6,314
|
£1.02
|
| Total Expenses |
£13,302
|
£2.15
|
| Net Operating Income |
£48,511
|
£7.86
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £61,814 |
| Annual Per SF | £10.01 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £61,814 |
| Annual Per SF | £10.01 |
| Taxes | |
|---|---|
| Annual | £6,988 |
| Annual Per SF | £1.13 |
| Operating Expenses | |
|---|---|
| Annual | £6,314 |
| Annual Per SF | £1.02 |
| Total Expenses | |
|---|---|
| Annual | £13,302 |
| Annual Per SF | £2.15 |
| Net Operating Income | |
|---|---|
| Annual | £48,511 |
| Annual Per SF | £7.86 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
4,263 SF
Building Class
A
Year Built
1982
Price
£559,452
Price Per SF
£131
Net Initial Yield
8.60%
NOI
£48,113
Tenancy
Single
Number of Floors
1
Typical Floor Size
2,132 SF
Building FAR
0.16
Lot Size
0.61 AC
Zoning
BP - Business Park - General Office and or Medical Office Use. Higher building standards than typical commercial.
Parking
30 Spaces (7.04 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Security System
- Signage
- Roof Lights
- Basement
- High Ceilings
- Air Conditioning
- Fiber Optic Internet
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | £342,713 (2023) | |
| Land Assessment | £149,213 (2023) | Annual Taxes | £6,988 (£1.64/sf) |
| Improvements Assessment | £193,500 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£149,213 (2023)
Improvements Assessment
£193,500 (2023)
Total Assessment
£342,713 (2023)
Annual Taxes
£6,988 (£1.64/sf)
Tax Year
2024 Payable 2024
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Century 21 Alliance Group
502 Marquette St
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