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 Market49
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.
(260) 799-6561
Listed By:
Jerry Starks · License #RB14038134
Source:
Theferrellgroupkw
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 30 at 8:54PM
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.
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 = 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
$6,917
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
4.33%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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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
