Freestanding Restaurant For
For Sale
Contact for pricing
8607 US-24, Fort Wayne, IN 46804
5,679 SF freestanding restaurant with furnished kitchen and liquor license.
Property Size5,679 SF
Lot Size1.13 Acres
Price / SF$211.30
Days on Market1165
Property Features for 8607 US-24
General Information
Standard status
Active
Size
5,679 SF
Lot size
1.13 Acres
Property subtype
RETAIL
Listing Agency:
Sturges Property Group
Listed By:
Ian Smith · License #RB24001137
(260) 424-8448
Source:
Moodyscre
Added: Aug 21, 2023
Changed: Oct 25
Last Checked: Oct 28 at 10:09AM
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 Sturges Property Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding restaurant, located in Southwest Fort Wayne, offers 5,679 SF of space. The property features a fully furnished kitchen, including two hoods, grills/ranges, deep fryers, ovens, and a walk-in cooler & freezer. It is situated in a busy retail trade area, providing excellent visibility to Interstate 69 via pylon and building signage. The property has quick access to US 24, W Jefferson Blvd, and Exit 302 on Interstate 69. A shared parking lot is available, serving two adjacent hotels with low vacancy rates. A pylon sign fronting I-69 is included. A liquor license is available.
Key Highlights
- Freestanding 5,679 SF restaurant
- Fully furnished kitchen with all FF+E included (two hoods, grills/ranges, deep fryers, ovens, walk‑in cooler & freezer)
- High visibility to Interstate 69 via pylon and building signage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,879
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,257,580
$1.3M
Cap Rate 7%
$898,271
$898.3K
Cap Rate 9%
$698,656
$698.7K
Market Conditions
NOI Build-Up for 5,679 SF
Gross rent
$90.6K $15.96/SF
− Vacancy
−$6.8K −$1.20/SF
EGI
$83.8K $14.76/SF
− OpEx
−$21.0K −$3.69/SF
NOI
$62.9K $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%
$1,257,580
Cap Rate 7%
$898,271
Cap Rate 9%
$698,656
Alternative Uses
Best Use
Specialty Retail
$898.3K
$786.0K – $1.05M
NOI $62,879 @ 7.0% cap · market cap 5.24%
Second Best
Retail
$779.4K
$682.0K – $909.4K
NOI $54,561 @ 7.0% cap · market cap 4.55%
Theoretical Best
Multifamily LT 5
$4.74M
$4.15M – $5.53M
NOI $332,089 @ 7.0% cap · market cap 27.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46804, IN
28,800
Population
12,959
Households
2.2
Avg Household Size
40
Median Age
44%
College-Educated
96%
High-School Grad
17.7 sq mi
ZIP Area
1,627
Density / Sq Mi
$84,778
Median Household Income
$49,050
Median Earnings
$1,134
Median Rent
$241,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Restaurant - 5,679 SF freestanding restaurant with furnished kitchen and liquor license.
Where is this restaurant located?
The property is located at 8607 US-24 Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Freestanding 5,679 SF restaurant; Fully furnished kitchen with all FF+E included (two hoods, grills/ranges, deep fryers, ovens, walk‑in cooler & freezer); High visibility to Interstate 69 via pylon and building signage
