Divisible Downtown Office
111 W Wayne St Fort Wayne, IN 46802
111 W Wayne St, Fort Wayne, IN, 46802
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For Sale
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Former office suites with large conference rooms and multiple private offices, including a divisible, unoccupied largest space.
Property Size5,605 SF
Price / SF$160.39
Days on Market1339
Property Features for 111 W Wayne St
General Information
- Standard status
- Active
- Size
- 5,605 SF
- Property subtype
- OFFICE
Properties For Sale
at 111 W Wayne St Contact us
Listing agency
BND Commercial, LLC
(260) 704-3283
Listed by
David W. Nugent · License #RB14009044
(260) 704-3283
Source
Moodyscre
Added: Nov 21, 2022 Updated: Jul 22 at 4:22AM Checked: Jul 22 at 4:22AM
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 property offers flexible space configured for office use, with each unit including a large conference room and individual offices. The largest suite is currently unoccupied, totals 5,605 SF, and is divisible. It also includes a breakroom. A second space totals 1,776 SF and features a reception area, a conference room, and four offices. The office layout may also be adaptable for retail use based on the property’s configuration.
The building is positioned at a hard corner in downtown Fort Wayne at Wayne and Calhoun Streets, within walking distance of restaurants, banking, legal, and governmental offices. An adjacent tenant is Jimmy John’s Restaurant.
In addition to the existing office improvements and conference-room setup, the largest space’s divisibility provides the option to tailor occupancy to a smaller footprint, subject to approval and buildout requirements.
The building is positioned at a hard corner in downtown Fort Wayne at Wayne and Calhoun Streets, within walking distance of restaurants, banking, legal, and governmental offices. An adjacent tenant is Jimmy John’s Restaurant.
In addition to the existing office improvements and conference-room setup, the largest space’s divisibility provides the option to tailor occupancy to a smaller footprint, subject to approval and buildout requirements.
Key Highlights
- Former general and legal office spaces with large conference rooms and multiple private offices
- Largest suite: 5,605 SF, divisible and unoccupied, with a breakroom
- Second suite: 1,776 SF with reception area, conference room, and four offices
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.5k | $17.04 |
| − Vacancy | −$13.0k | −$2.33 |
| EGI | $82.5k | $14.71 |
| − OpEx | −$20.6k | −$3.68 |
| NOI | $61.8k | $11.03 |
5,605 SF · lease $17.04/SF/yr · vacancy 13.66% · expense 25.00%
Alternative Uses
Best Use
Office B
$883.5K
$773.1K – $1.03M
NOI $61,847 @ 7.0% cap · market cap 6.88%
Second Best
Retail
$769.3K
$673.1K – $897.5K
NOI $53,850 @ 7.0% cap · market cap 5.99%
Theoretical Best
Multifamily LT 5
$4.68M
$4.10M – $5.46M
NOI $327,761 @ 7.0% cap · market cap 36.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bomberger Jon A
Law Firm
Summit Data
Computer & Electronic Repair
Kiplinger Law Firm, ...
Law Firm
Baker & Daniels: Hoffman ...
Law Firm
Wells Fargo Private ...
Financial Advisor
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FAQs
What type of property is this?
Office units - Former office suites with large conference rooms and multiple private offices, including a divisible, unoccupied largest space.
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 $899,000.
What are key features of this property?
This property features: Former general and legal office spaces with large conference rooms and multiple private offices; Largest suite: 5,605 SF, divisible and unoccupied, with a breakroom; Second suite: 1,776 SF with reception area, conference room, and four offices
