Storefront Property with Adjoining
For Sale
$159,900
1017 E Pontiac St, Fort Wayne, IN 46803
An operating barbershop occupies the building, with a second adjoining lot included for expansion or additional development.
Property Size720 SF
Price / SF$222.08
Days on Market95
Property Features for 1017 E Pontiac St
General Information
Standard status
Active
Size
720 SF
Building Details
Year Built
1980
Listing Agency:
JM Realty Associates, Inc.
Listed By:
Jerry Starks · License #RB14038134
(260) 799-6561
Source:
Theferrellgroupkw
Added: Jul 14
Changed: Oct 7
Last Checked: Oct 7 at 5:41PM
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 JM Realty Associates, Inc.
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Investment Insights
Based on property information with market context.
This storefront property includes the building occupied by an operating barbershop and a second adjoining lot. The property was constructed in 1980 and is being offered with both lots, allowing the next owner to evaluate continued barbershop use, expansion, or additional development. The current tenant may remain in place if preferred by the new owner.
Located at 1017 E Pontiac St in Fort Wayne, Indiana, the property combines an existing commercial storefront with adjoining land in a single offering.
Located at 1017 E Pontiac St in Fort Wayne, Indiana, the property combines an existing commercial storefront with adjoining land in a single offering.
Key Highlights
- Operating barbershop occupies the storefront building
- Two total lots included in the sale
- Additional adjoining lot supports expansion or further development
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,917
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$138,340
$138.3K
Cap Rate 7%
$98,814
$98.8K
Cap Rate 9%
$76,856
$76.9K
Market Conditions
NOI Build-Up for 720 SF
Gross rent
$10.8K $15.00/SF
− Vacancy
−$918 −$1.28/SF
EGI
$9.9K $13.73/SF
− OpEx
−$3.0K −$4.12/SF
NOI
$6.9K $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 Rate 5%
$138,340
Cap Rate 7%
$98,814
Cap Rate 9%
$76,856
Alternative Uses
Best Use
Retail
$98.8K
$86.5K – $115.3K
NOI $6,917 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$601.5K
$526.3K – $701.7K
NOI $42,103 @ 7.0% cap · market cap 26.33%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46803, IN
9,686
Population
4,634
Households
2.1
Avg Household Size
30
Median Age
9%
College-Educated
71%
High-School Grad
7.5 sq mi
ZIP Area
1,291
Density / Sq Mi
$31,797
Median Household Income
$25,248
Median Earnings
$878
Median Rent
$78,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - An operating barbershop occupies the building, with a second adjoining lot included for expansion or additional development.
Where is this storefront property located?
The property is located at 1017 E Pontiac St Fort Wayne, IN.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Operating barbershop occupies the storefront building; Two total lots included in the sale; Additional adjoining lot supports expansion or further development
