Historic Corner
For Sale
Contact for pricing
1205 E State Blvd, Fort Wayne, IN 46805
Urban Corridor zoning and road signage support a street-facing retail presence.
Property Size2,700 SF
Price / SF$184.81
Days on Market185
Property Features for 1205 E State Blvd
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Office, Retail
Zoning
UC (Urban Corridor
Additional Details
Corner Location
Yes
Building Details
Year Built
1920
Buildings
1
Stories
1
Units
1
Listing Agency:
Acadia Commercial
(260) 377-5002
Listed By:
Tyler Binkley · License #RB14037279
Source:
Crexi
Added: Feb 27
Changed: Aug 30
Last Checked: Aug 30 at 2:35AM
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.
Built in 1920, this 2,700-square-foot storefront property occupies a corner position along East State Boulevard in Fort Wayne. The building is classified within the Urban Corridor zoning district and is described as suitable for a retail shop or street retail use.
The property includes road signage and sits within the East State Village retail corridor. Its address is 1205 E State Blvd, Fort Wayne, IN 46805, placing the storefront on a named commercial corridor with established retail context.
The property includes road signage and sits within the East State Village retail corridor. Its address is 1205 E State Blvd, Fort Wayne, IN 46805, placing the storefront on a named commercial corridor with established retail context.
Key Highlights
- 2,700 SF storefront building constructed in 1920
- UC (Urban Corridor zoning designation
- Corner position on East State Boulevard
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
$25,940
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
5.20%
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%
$518,800
$518.8K
Cap Rate 7%
$370,571
$370.6K
Cap Rate 9%
$288,222
$288.2K
Market Conditions
NOI Build-Up for 2,700 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
$40.5K $15.00/SF
− Vacancy
−$3.4K −$1.28/SF
EGI
$37.1K $13.73/SF
− OpEx
−$11.1K −$4.12/SF
NOI
$25.9K $9.61/SF
Area
Fort Wayne, IN
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$518,800
Cap Rate 7%
$370,571
Cap Rate 9%
$288,222
Alternative Uses
Best Use
Retail
$370.6K
$324.3K – $432.3K
NOI $25,940 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.26M
$1.97M – $2.63M
NOI $157,887 @ 7.0% cap · market cap 31.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46805, IN
21,138
Population
10,742
Households
2
Avg Household Size
35
Median Age
27%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
3,303
Density / Sq Mi
$50,099
Median Household Income
$37,294
Median Earnings
$858
Median Rent
$131,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Urban Corridor zoning and road signage support a street-facing retail presence.
Where is this storefront property located?
The property is located at 1205 E State Blvd Fort Wayne, IN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,700 SF storefront building constructed in 1920; UC (Urban Corridor zoning designation; Corner position on East State Boulevard
