Fully Leased Office
For Sale
Contact for pricing
111 W Wayne St, Fort Wayne, IN 46802
Street-level condominium with three complementary occupants and long-term lease arrangements.
Property Size9,505 SF
Price / SF$144.66
Days on Market58
Property Features for 111 W Wayne St
General Information
Standard status
Active
Size
9,505 SF
Property subtype
OFFICE
Occupancy
100%
Additional Details
Floor
Street Level
Asking Price
$1,375,000
Road Access
Yes
Office Units
1
Amenities
controlled access
fitness center
outdoor patio areas
Building Details
Tenancy
Multi
Listing Agency:
BND Commercial, LLC
(260) 407-0900
Listed By:
David W. Nugent · License #RB14009044
(260) 704-3283
Source:
Moodyscre
Added: Aug 12
Changed: Oct 1
Last Checked: Oct 7 at 2:33PM
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
Investment Insights
Based on property information with market context.
This 9,505-square-foot, street-level office condominium is fully leased to three occupants: Jimmy John’s, UJIMA Therapeutic Services, and Wild Roots Nature Based Learning. The multi-tenant configuration provides a mix of business uses within a single commercial asset, with long-term leases and scheduled rental increases documented in the offering terms.
The property is located at 111 W Wayne St in downtown Fort Wayne, at the intersection of Wayne and Calhoun Streets within Midtowne Crossing. Nearby amenities include parking, controlled access, a fitness center, and outdoor patio areas. Restaurants, entertainment venues, financial offices, legal offices, and governmental offices are within walking distance, while the property also benefits from access to the broader Midtowne Crossing complex.
The property is located at 111 W Wayne St in downtown Fort Wayne, at the intersection of Wayne and Calhoun Streets within Midtowne Crossing. Nearby amenities include parking, controlled access, a fitness center, and outdoor patio areas. Restaurants, entertainment venues, financial offices, legal offices, and governmental offices are within walking distance, while the property also benefits from access to the broader Midtowne Crossing complex.
Key Highlights
- 9,505‑square‑foot street‑level office condominium
- 100% leased to three occupants
- Tenants include Jimmy John’s, UJIMA Therapeutic Services, and Wild Roots Nature Based Learning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,881
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,097,620
$2.1M
Cap Rate 7%
$1,498,300
$1.5M
Cap Rate 9%
$1,165,344
$1.2M
Market Conditions
NOI Build-Up for 9,505 SF
Gross rent
$162.0K $17.04/SF
− Vacancy
−$22.1K −$2.33/SF
EGI
$139.8K $14.71/SF
− OpEx
−$35.0K −$3.68/SF
NOI
$104.9K $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%
$2,097,620
Cap Rate 7%
$1,498,300
Cap Rate 9%
$1,165,344
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $104,881 @ 7.0% cap · market cap 7.63%
Second Best
Retail
$1.30M
$1.14M – $1.52M
NOI $91,319 @ 7.0% cap · market cap 6.64%
Theoretical Best
Multifamily LT 5
$7.94M
$6.95M – $9.26M
NOI $555,820 @ 7.0% cap · market cap 40.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Office units - Street-level condominium with three complementary occupants and long-term lease arrangements.
Where is this office units 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: 9,505‑square‑foot street‑level office condominium; 100% leased to three occupants; Tenants include Jimmy John’s, UJIMA Therapeutic Services, and Wild Roots Nature Based Learning
