Office Park Investment

Office for Sale
Catylist Listing ID: 30853971
Property Subtypes: Office Building
Building Size (RSF): 17,248 SF
Gross Land Area: 1.68 SF
Sale Price: $2,490,000
Unit Price: $144.36 PSF
Property Use Type: Investment
Building Name: Sycamore Pointe Office Park
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/26/2023

Overview / Comments

The property is a two building professional office campus located in desirable Southwest Fort Wayne, IN. Construction of the 6,128 SF Building 1 (2006) and 11,120 SF Building 2 (2017) remain in Class A condition. The property is 1.68 acres along Scott Road, which is the main collector road connecting Illinois Road to the surrounding high end residential area. The direct area includes a national grocer anchored power center, numerous community retail strip centers, and a
retirement community. Due to the absence of professional offices in the area, Sycamore Pointe is highly sought after for working professionals looking to establish an office close to home in the area.

Current Tenants

Tenant Business Name Dale, Huffman, Babcock Law Office
Tenant Business Name University of Notre Dame
Tenant Business Name Neossia Inc & Farrington Specialty Counseling
Tenant Business Name Edward Jones
Tenant Business Name G2 Property Management
Tenant Business Name Premier Dance Company

Additional Details

Nearest MSA: Fort Wayne
County: Allen
Tax ID/APN: 021103328005000038
Zoning: C-1 (LIMITED COMMERCIAL)
Property Located Between: Illinois Rd (US 14) and Scott Rd
Property Visibility: Excellent
Highway Access: Interstate 69 via Illinois Rd (US 14)
Site Description: The property is a two building professional office campus located in desirable Southwest Fort Wayne, IN. Construction of the 6,128 SF Building 1 (2006) and 11,120 SF Building 2 (2017) remain in Class A condition. The property is 1.68 acres along Scott Road, which is the main collector road connecting Illinois Road to the surrounding high end residential area.
Area Description: The direct area includes a national grocer anchored power center, numerous community retail strip centers, and a retirement community. Due to the absence of professional offices in the area, Sycamore Pointe is highly sought after for working professionals looking to establish an office close to home in the area.
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 2006
Year Renovated: 2017
Construction/Siding: Brick, Stucco, Wood Frame
Exterior Description: Excellent condition
Parking Description: Surface, shared
Total Parking Spaces: 72
Zoning Description: Limited Commercial

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,057 31,272 53,027
Median Age: 39.3 38.41 38.96
Households: 2,442 11,880 21,092

Contact

Photograph of Listing Agent

Dennis Callison

ICREX Member
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