Retail Space with Convertible
For Sale
$895,000
101 W Washington Center Rd, Fort Wayne, IN 46825
Two available suites may be combined into one larger retail space.
Property Size6,030 SF
Price / SF$148.42
Days on Market40
Property Features for 101 W Washington Center Rd
General Information
Standard status
Active
Size
6,030 SF
Building Details
Year Built
1997
Listing Agency:
RealtyFlex of N.E. Indiana LLC
(260) 438-8800
Listed By:
David Augustyniak · License #RB14027792
Source:
Anthonyrealtors
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 11:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RealtyFlex of N.E. Indiana LLC
Investment Insights
Based on property information with market context.
This retail property includes two vacant suites that can be configured together as one larger space. Suite A contains 2,546 SF, while Suite B provides 1,815 SF, creating a combined available area of 4,361 SF. The overall property measures 6,030 SF.
Built in 1997, the property is located at 101 W Washington Center Rd in Fort Wayne, Indiana. The available configuration offers flexibility for a retailer seeking separate premises or a larger contiguous footprint.
Built in 1997, the property is located at 101 W Washington Center Rd in Fort Wayne, Indiana. The available configuration offers flexibility for a retailer seeking separate premises or a larger contiguous footprint.
Key Highlights
- Two vacant suites may be combined into one space
- Suite A measures 2,546 SF
- Suite B measures 1,815 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,933
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,158,660
$1.2M
Cap Rate 7%
$827,614
$827.6K
Cap Rate 9%
$643,700
$643.7K
Market Conditions
NOI Build-Up for 6,030 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.5K $15.00/SF
− Vacancy
−$7.7K −$1.28/SF
EGI
$82.8K $13.73/SF
− OpEx
−$24.8K −$4.12/SF
NOI
$57.9K $9.61/SF
Area
Fort Wayne, IN
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,158,660
Cap Rate 7%
$827,614
Cap Rate 9%
$643,700
Alternative Uses
Best Use
Retail
$827.6K
$724.2K – $965.6K
NOI $57,933 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.04M
$4.41M – $5.88M
NOI $352,614 @ 7.0% cap · market cap 39.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Explore this area
Business Placement
Demographics for 46825, IN
29,062
Population
13,597
Households
2.1
Avg Household Size
38
Median Age
34%
College-Educated
91%
High-School Grad
15.6 sq mi
ZIP Area
1,863
Density / Sq Mi
$68,890
Median Household Income
$44,788
Median Earnings
$1,044
Median Rent
$202,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two available suites may be combined into one larger retail space.
Where is this retail space located?
The property is located at 101 W Washington Center Rd Fort Wayne, IN.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two vacant suites may be combined into one space; Suite A measures 2,546 SF; Suite B measures 1,815 SF
