Freestanding NNN Retail
For Sale
Contact for pricing
Pending
1031 Broadway, Fort Wayne, IN 46802
Signalized hard-corner site with established occupancy and Commercial zoning in downtown Fort Wayne.
Property Size6,742 SF
Days on Market127
Property Features for 1031 Broadway
General Information
Standard status
Pending
Size
6,742 SF
Class
A
Property subtype
Retail
Zoning
Commercial
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$88,994
Site & Location
Corner Location
Yes
Traffic Count
27,061 vehicles/day
Building Details
Year Built
1984
Year Renovated
1990
Tenancy
Single
Listing Agency:
Marcus & Millichap - Indianapolis
Listed By:
Damien Yoder · License #IN RB14050667
(317) 218-5314
Source:
Crexi
Added: Jun 12
Changed: Oct 8
Last Checked: Oct 14 at 10:28PM
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 Marcus & Millichap - Indianapolis
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Investment Insights
Based on property information with market context.
This freestanding 6,742-square-foot retail property at 1031 Broadway was built in 1984 for Cap N' Cork operations. The asset is leased on an NNN structure, with the tenant responsible for taxes, insurance, CAM—including the parking lot—and a management fee. Big Red Liquors guarantees the lease and has acquired the Cap N' Cork operations.
The property occupies the signalized intersection of Broadway and W Jefferson, a major north-south route across from Parkview Field. The combined traffic count is 27,061, and Parkview Field draws more than 500,000 visitors annually. The lease has 5.18 years remaining, along with 2, 5 Year Options. Downtown investment identified in the source includes The Landing, Riverfront at Promenade Park, Electric Works, and The Pearl.
The property occupies the signalized intersection of Broadway and W Jefferson, a major north-south route across from Parkview Field. The combined traffic count is 27,061, and Parkview Field draws more than 500,000 visitors annually. The lease has 5.18 years remaining, along with 2, 5 Year Options. Downtown investment identified in the source includes The Landing, Riverfront at Promenade Park, Electric Works, and The Pearl.
Key Highlights
- 6,742‑square‑foot freestanding retail building constructed in 1984
- NNN lease with 5.18 years remaining and 2, 5 Year Options
- Signalized Broadway and W Jefferson intersection with a combined traffic count of 27,061
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,649
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,492,980
$1.5M
Cap Rate 7%
$1,066,414
$1.1M
Cap Rate 9%
$829,433
$829.4K
Market Conditions
NOI Build-Up for 6,742 SF
Gross rent
$107.6K $15.96/SF
− Vacancy
−$8.1K −$1.20/SF
EGI
$99.5K $14.76/SF
− OpEx
−$24.9K −$3.69/SF
NOI
$74.6K $11.07/SF
Area
Fort Wayne, IN
Vacancy
7.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,492,980
Cap Rate 7%
$1,066,414
Cap Rate 9%
$829,433
Alternative Uses
Best Use
Specialty Retail
$1.07M
$933.1K – $1.24M
NOI $74,649 @ 7.0% cap · market cap 5.96%
Second Best
Retail
$925.3K
$809.7K – $1.08M
NOI $64,774 @ 7.0% cap · market cap 5.17%
Theoretical Best
Multifamily LT 5
$5.63M
$4.93M – $6.57M
NOI $394,249 @ 7.0% cap · market cap 31.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
27,061 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,655
Businesses Nearby
Explore this area
Business Placement
Demographics for 46802, IN
10,664
Population
5,831
Households
1.8
Avg Household Size
35
Median Age
23%
College-Educated
83%
High-School Grad
4.2 sq mi
ZIP Area
2,539
Density / Sq Mi
$40,903
Median Household Income
$32,172
Median Earnings
$880
Median Rent
$131,600
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?
NNN property - Signalized hard-corner site with established occupancy and Commercial zoning in downtown Fort Wayne.
Where is this nnn property located?
The property is located at 1031 Broadway Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,253,436.
What are key features of this property?
This property features: 6,742‑square‑foot freestanding retail building constructed in 1984; NNN lease with 5.18 years remaining and 2, 5 Year Options; Signalized Broadway and W Jefferson intersection with a combined traffic count of 27,061
