Industrial Flex Space with
For Sale
$990,000
Pending
3209 Clearfield Ct, Fort Wayne, IN 46808
Heated warehouse space includes a finished office component and adaptable temporary-wall configuration.
Property Size8,325 SF
Days on Market23
Property Features for 3209 Clearfield Ct
General Information
Standard status
Pending
Size
8,325 SF
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
7,125 SF
Office Build-Out
1,200 SF
Dock-High Doors
1
Building Details
Year Built
1996
Listing Agency:
RE/MAX Results
(260) 494-2852
Listed By:
Andrea Zehr
Source:
Spencerchildersgroup
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 25 at 5:30AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 8,325-square-foot flex property combines a finished office area with heated warehouse space. The interior includes temporary walls that can be removed, retained, or reconfigured, allowing the layout to support changing operational needs. Clear height reaches 16 feet, and the building has multiple overhead doors, including a leveler-equipped opening. Additional improvements include a fenced bullpen, utility shed, and front lawn irrigation.
Located in Centennial Industrial Park, the property is less than 2 miles and approximately a 5-minute drive from I-69, Hwy 33, Hwy 30, and Coliseum Blvd. Utilities are provided by AEP, NIPSCO, and the City. The building was constructed in 1996.
Located in Centennial Industrial Park, the property is less than 2 miles and approximately a 5-minute drive from I-69, Hwy 33, Hwy 30, and Coliseum Blvd. Utilities are provided by AEP, NIPSCO, and the City. The building was constructed in 1996.
Key Highlights
- 8325 SF property with 1200 SF finished office area and 7125 SF heated warehouse area
- 16' ceiling clear height
- Overhead doors: 8x9' leveler / 10x12' / 8x9'
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
$67,308
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
6.80%
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%
$1,346,160
$1.3M
Cap Rate 7%
$961,543
$961.5K
Cap Rate 9%
$747,867
$747.9K
Market Conditions
NOI Build-Up for 8,325 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
$82.9K $9.96/SF
− Vacancy
−$3.7K −$0.45/SF
EGI
$79.2K $9.51/SF
− OpEx
−$11.9K −$1.43/SF
NOI
$67.3K $8.09/SF
Area
Fort Wayne, IN
Vacancy
4.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,346,160
Cap Rate 7%
$961,543
Cap Rate 9%
$747,867
Alternative Uses
Best Use
Warehouse
$961.5K
$841.4K – $1.12M
NOI $67,308 @ 7.0% cap · market cap 6.80%
Second Best
Flex RnD
$872.0K
$763.0K – $1.02M
NOI $61,039 @ 7.0% cap · market cap 6.17%
Theoretical Best
Multifamily LT 5
$6.95M
$6.09M – $8.11M
NOI $486,818 @ 7.0% cap · market cap 49.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Dock-high doors
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46808, IN
19,894
Population
9,298
Households
2.1
Avg Household Size
35
Median Age
19%
College-Educated
88%
High-School Grad
10.6 sq mi
ZIP Area
1,877
Density / Sq Mi
$53,632
Median Household Income
$35,123
Median Earnings
$939
Median Rent
$127,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Heated warehouse space includes a finished office component and adaptable temporary-wall configuration.
Where is this flex space located?
The property is located at 3209 Clearfield Ct Fort Wayne, IN.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 8325 SF property with 1200 SF finished office area and 7125 SF heated warehouse area; 16' ceiling clear height; Overhead doors: 8x9' leveler / 10x12' / 8x9'
