Restaurant and Retail
For Sale
Contact for pricing
6500 State Rd 930, Fort Wayne, IN
Restaurant and retail property for sale in Fort Wayne.
Property Size1,800 SF
Lot Size0.51 Acres
Price / SF$358.33
Days on Market636
Property Features for 6500 State Rd 930
General Information
Standard status
Active
Size
1,800 SF
Lot size
0.51 Acres
Property subtype
RETAIL
Listing Agency:
NAI Hanning & Bean
(260) 422-2150
Listed By:
Rachel Romary · License ##RB14043846
(260) 341-0230
Source:
Moodyscre
Added: Dec 18, 2024
Changed: Sep 4
Last Checked: Sep 14 at 10:49AM
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 NAI Hanning & Bean
Investment Insights
Based on property information with market context.
This property, suitable for restaurant or retail use, features a dining area, two offices, two restrooms, and a kitchen. The kitchen is equipped with a floor drain and an overhead door. The building has a total area of 1800 square feet.
Key Highlights
- Two offices provide dedicated workspace.
- Kitchen included.
- Two restrooms available.
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
$19,930
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
3.09%
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%
$398,600
$398.6K
Cap Rate 7%
$284,714
$284.7K
Cap Rate 9%
$221,444
$221.4K
Market Conditions
NOI Build-Up for 1,800 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
$28.7K $15.96/SF
− Vacancy
−$2.2K −$1.20/SF
EGI
$26.6K $14.76/SF
− OpEx
−$6.6K −$3.69/SF
NOI
$19.9K $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 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%
$398,600
Cap Rate 7%
$284,714
Cap Rate 9%
$221,444
Alternative Uses
Best Use
Specialty Retail
$284.7K
$249.1K – $332.2K
NOI $19,930 @ 7.0% cap · market cap 3.09%
Second Best
Retail
$247.1K
$216.2K – $288.2K
NOI $17,294 @ 7.0% cap · market cap 2.68%
Theoretical Best
Multifamily LT 5
$1.50M
$1.32M – $1.75M
NOI $105,258 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
22k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 29%
Beauty & Spa 5%
Dunkin' Donuts
Dining
9,036 visits/mo
0.1 miles
Chase Bank
Shops & Services
5,550 visits/mo
0.2 miles
BIGGBY COFFEE
Dining
5,129 visits/mo
0.2 miles
Cosmoprof
Beauty & Spa
814 visits/mo
0.2 miles
Jackson Hewitt Tax Service
Shops & Services
813 visits/mo
0.2 miles
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
Questions? Ask Rey
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Similar Off Market Nearby
- Catering Fort Wayne LLC. — 6338 E State Blvd, Fort Wayne, IN 46815
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant and retail property for sale in Fort Wayne.
Where is this restaurant located?
The property is located at 6500 State Rd 930 Fort Wayne, IN.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Two offices provide dedicated workspace.; Kitchen included.; Two restrooms available.
