Divisible Downtown Office
For Sale
Contact for pricing
111 W Wayne St, Fort Wayne, IN 46802
Former office suites with large conference rooms and multiple private offices, including a divisible, unoccupied largest space.
Property Size5,605 SF
Price / SF$245.32
Days on Market241
Property Features for 111 W Wayne St
General Information
Standard status
Active
Size
5,605 SF
Property subtype
OFFICE
Site & Location
Neighborhood
West Central Neighborhood Assn
Amenities
conference room
breakroom
Building Details
Tenancy
Multi
Properties For Sale
at 111 W Wayne St Contact usCalhoun City Center AVAILABLE
Floor
1
Size
5,605 SF
Type
OFFICE
Lease Type
FULL_SERVICE
Sublease
No
Flexible Lease Rates on this Rare Downtown Opportunity! Formerly used as general and legal office spaces, each space has a large conference room and individual offices. The largest space, consisting of 5,605 SF, is divisible, unoccupied and includes a very nice breakroom. The second space is 1,776 SF with reception area, conference room and four offices. Adjacent Tenant is Jimmy John's Restaurant. Property is located in the "heart" of downtown Fort Wayne at hard corner of Wayne and Calhoun Streets and is within walking distance to numerous restaurants, banking, legal and governmental offices. Office spaces could also be retrofitted into Retail space. Ask Broker for Lease Rate options. FOR MORE INFORMATION ON THIS, AND ALL BND LISTINGS, PLEASE VISIT OUR WEBSITE AT www.bnd.net
Contact us 904 S Calhoun AVAILABLE
Floor
1
Size
1,776 SF
Type
OFFICE
Lease Type
FULL_SERVICE
Flexible Lease Rates on this Rare Downtown Opportunity! Formerly used as general and legal office spaces, each space has a large conference room and individual offices. The largest space, consisting of 5,605 SF, is divisible, unoccupied and includes a very nice breakroom. The second space is 1,776 SF with reception area, conference room and four offices. Adjacent Tenant is Jimmy John's Restaurant. Property is located in the "heart" of downtown Fort Wayne at hard corner of Wayne and Calhoun Streets and is within walking distance to numerous restaurants, banking, legal and governmental offices. Office spaces could also be retrofitted into Retail space. Ask Broker for Lease Rate options.
Contact us
Listing Agency:
BND Commercial, LLC
(260) 407-0900
Listed By:
David W. Nugent · License #RB14009044
(260) 704-3283
Source:
Moodyscre
Added: Mar 3
Changed: Oct 25
Last Checked: Oct 28 at 7:45AM
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 BND Commercial, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property offers flexible space configured for office use, with each unit including a large conference room and individual offices. The largest suite is currently unoccupied, totals 5,605 SF, and is divisible. It also includes a breakroom. A second space totals 1,776 SF and features a reception area, a conference room, and four offices. The office layout may also be adaptable for retail use based on the property’s configuration.
The building is positioned at a hard corner in downtown Fort Wayne at Wayne and Calhoun Streets, within walking distance of restaurants, banking, legal, and governmental offices. An adjacent tenant is Jimmy John’s Restaurant.
In addition to the existing office improvements and conference-room setup, the largest space’s divisibility provides the option to tailor occupancy to a smaller footprint, subject to approval and buildout requirements.
The building is positioned at a hard corner in downtown Fort Wayne at Wayne and Calhoun Streets, within walking distance of restaurants, banking, legal, and governmental offices. An adjacent tenant is Jimmy John’s Restaurant.
In addition to the existing office improvements and conference-room setup, the largest space’s divisibility provides the option to tailor occupancy to a smaller footprint, subject to approval and buildout requirements.
Key Highlights
- Former general and legal office spaces with large conference rooms and multiple private offices
- Largest suite: 5,605 SF, divisible and unoccupied, with a breakroom
- Second suite: 1,776 SF with reception area, conference room, and four offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,847
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,236,940
$1.2M
Cap Rate 7%
$883,529
$883.5K
Cap Rate 9%
$687,189
$687.2K
Market Conditions
NOI Build-Up for 5,605 SF
Gross rent
$95.5K $17.04/SF
− Vacancy
−$13.0K −$2.33/SF
EGI
$82.5K $14.71/SF
− OpEx
−$20.6K −$3.68/SF
NOI
$61.8K $11.03/SF
Area
Fort Wayne, IN
Vacancy
13.66%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,236,940
Cap Rate 7%
$883,529
Cap Rate 9%
$687,189
Alternative Uses
Best Use
Office B
$883.5K
$773.1K – $1.03M
NOI $61,847 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.68M
$4.10M – $5.46M
NOI $327,761 @ 7.0% cap · market cap 23.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,752
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Former office suites with large conference rooms and multiple private offices, including a divisible, unoccupied largest space.
Where is this office unit located?
The property is located at 111 W Wayne St Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Former general and legal office spaces with large conference rooms and multiple private offices; Largest suite: 5,605 SF, divisible and unoccupied, with a breakroom; Second suite: 1,776 SF with reception area, conference room, and four offices
