Office Building with Private
For Sale
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11118 Coldwater Rd, Fort Wayne, IN 46845
Updated professional office property with conference rooms, workstations, kitchen space, and a divisible layout.
Property Size7,449 SF
Price / SF$214.79
Days on Market168
Property Features for 11118 Coldwater Rd
General Information
Standard status
Active
Size
7,449 SF
Property subtype
OFFICE
Building Details
Year Renovated
2022
Tenancy
Single
Listing Agency:
Acadia Commercial
(260) 414-0617
Listed By:
Tyler Binkley · License #RB14037279
(260) 414-0617
Source:
Moodyscre
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 31 at 1:22PM
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 Acadia Commercial
Investment Insights
Based on property information with market context.
Located at 11118 Coldwater Rd in Fort Wayne, Indiana, this 7,449-square-foot office building received updates in 2022. The interior includes 24 private offices, two conference rooms, a bullpen with cubicles, and a large kitchen. The layout can be divided to accommodate separate office configurations.
The property is subject to an NNN lease expiring in 12/2026, with renewal options available. Its professional office buildout and existing lease structure support continued office use at the North Fort Wayne location.
The property is subject to an NNN lease expiring in 12/2026, with renewal options available. Its professional office buildout and existing lease structure support continued office use at the North Fort Wayne location.
Key Highlights
- 7,449‑square‑foot office building at 11118 Coldwater Rd, Fort Wayne, IN 46845
- 24 private offices and 2 conference rooms
- Bullpen with cubicles and large kitchen
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
$82,194
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
5.14%
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%
$1,643,880
$1.6M
Cap Rate 7%
$1,174,200
$1.2M
Cap Rate 9%
$913,267
$913.3K
Market Conditions
NOI Build-Up for 7,449 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
$126.9K $17.04/SF
− Vacancy
−$17.3K −$2.33/SF
EGI
$109.6K $14.71/SF
− OpEx
−$27.4K −$3.68/SF
NOI
$82.2K $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 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%
$1,643,880
Cap Rate 7%
$1,174,200
Cap Rate 9%
$913,267
Alternative Uses
Best Use
Office B
$1.17M
$1.03M – $1.37M
NOI $82,194 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.22M
$5.44M – $7.26M
NOI $435,592 @ 7.0% cap · market cap 27.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 46845, IN
28,380
Population
10,709
Households
2.7
Avg Household Size
39
Median Age
53%
College-Educated
98%
High-School Grad
22.9 sq mi
ZIP Area
1,239
Density / Sq Mi
$115,690
Median Household Income
$59,690
Median Earnings
$1,398
Median Rent
$314,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated professional office property with conference rooms, workstations, kitchen space, and a divisible layout.
Where is this office building located?
The property is located at 11118 Coldwater Rd Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 7,449‑square‑foot office building at 11118 Coldwater Rd, Fort Wayne, IN 46845; 24 private offices and 2 conference rooms; Bullpen with cubicles and large kitchen
