Mixed-Use Retail Investment on Wells Street

1833 N Wells St., Fort Wayne, Indiana 46808

  • Property Subtypes Street Retail , Free-Standing Building , Mixed Use
  • Building Size (RSF) 3,953 SF
  • Gross Building Area 3,953 SF
  • Building Status Existing
  • Sale Price $229,000.00 Total
  • Unit Price $57.93 per SF
  • Property Use Type Investment
  • Class of Space N/A
  • Total Land Size 0.06 Acres
  • Sale Terms Cash to Seller
  • Cap Rate 10
  • Last Updated 1/14/2020
  • Status active

Overview / Comments

100% leased! Income stream opportunity located down the street from Promenade Park. Retail space on the main floor is occupied by a single-tenant on a 3-year lease beginning June 2019. Upstairs has 4 new tenants with leases beginning in April-June 2019. Tenants pay base rent plus electrical. Owner pays all other utilities and expenses. The building has a new tear-off roof (2017). The main level has all new flooring, paint, LED lighting and electrical (2019). Current net income is $2,087.00/month. Financials are available upon request. The property is adjacent to residential neighborhoods and positioned on an urban retail corridor that provides fantastic foot traffic through the area.

Additional Details

  • Tax ID/APN 02-07-35-377-014-000-074
  • Zoning R2, Two Family Residential
  • Property Visibility Good
  • Total Number of Buildings 1
  • Number of Stories 1
  • Year Built 1930
  • Tax Auth Allen
  • Zoning Description R2, Two-Family Residential

Additional Contacts

  • Primary Contact:
    Angie Davis:
    202 W. Berry St., Suite 500
    Fort Wayne 46802
    (260) 424-8448 angie.davis@sturgespg.com www.sturgesproperty.com

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