Airport North - Investment Property

Retail-Commercial for Sale
Also listed as Office, Industrial
Catylist Listing ID: 30849164
Property Subtypes: Mixed Use
Building Size (RSF): 51,000 SF
Gross Land Area: 5.25 Acres
Sale Price: $5,200,000
Unit Price: $101.96 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 51,000 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 100
Last Updated: 9/18/2023

Overview / Comments

BND Commercial, on behalf of Ownership, is pleased to exclusively present an outstanding opportunity to purchase the fee- simple interest, 10,200 SF (each) five building multi-tenant flex property totaling 51,000 SF in Fort Wayne, Indiana. The buildings are being offered as a package.
The property consist of five identically designed flex office-warehouse buildings built in 1995. They have been well-maintained with high occupancy, mostly regional tenants. The property is located in the northwest area of Fort Wayne, one mile from I-69 and close to restaurants, retail, offices and Smith Field Airport.
The tenants are a range of regional/national and local companies, such as offices for engineering, technology, and healthcare. Most tenants have occupied their spaces for more than five years. The suites have a high percentage of office space with a little warehouse or are entirely office space. Some of the spaces have drive-in doors in the rear of the building. These buildings are currently designed for 13 tenants, but space can be combined or sub-divided.


Additional Details

Nearest MSA: Fort Wayne
County: Allen
Tax ID/APN: 020715226003000073
Zoning: C2
Retail Clientele: General, Business
Property Visibility: Fair
Largest Nearby Street: Lima Road
Highway Access: Less than 1 mile to US Hwy 3 (Lima Road)
Tenancy: Multiple Tenants
Total Number of Buildings: 5
Number of Stories: 1
Typical SF / Floor: 10,200 SF
Property Condition: Good
Year Built: 1991
Year Renovated: 1995
Construction/Siding: Steel Frame
Total Parking Spaces: 200
Parking Type: Surface
Parking Description: 40+ Avg/Building: 140+ Spaces Front and 66+ Spaces rear, plus unloading area
Sprinklers: None
Heat Type: Natural Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,953 52,024 145,163
Median Age: 36.44 35.14 35.5
Households: 2,387 21,435 58,449


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