Downtown Retail Office
For Sale
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1419 Fairfield Ave, Fort Wayne, IN 46802
Redevelopment property offering 4,498 SF of retail, office, or mixed use space plus a detached 1,100 SF garage.
Property Size4,498 SF
Price / SF$122.28
Days on Market176
Property Features for 1419 Fairfield Ave
General Information
Standard status
Active
Size
4,498 SF
Property subtype
RETAIL
Zoning
Downtown Edge
Site & Location
Traffic Count
10,000 vehicles/day
Highway Access
Yes
Listing Agency:
BND Commercial, LLC
(260) 407-0900
Listed By:
Austin Hoskins · License #RB24001390
(260) 705-2928
Source:
Moodyscre
Added: Mar 17
Changed: Aug 14
Last Checked: Sep 7 at 12:40PM
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 presents 4,498 SF of retail, office, or mixed-use redevelopment space, along with a separate detached garage of 1,100 SF. The combination of commercial floor area and detached garage provides flexibility for a variety of redevelopment concepts under the property’s zoning designation.
Located on Fairfield Avenue, the site has high visibility with over 10,000 vehicles per day and convenient access to US Highway 27 and I-69.
Zoning is listed as Downtown Edge, which supports flexible use for redevelopment planning.
Located on Fairfield Avenue, the site has high visibility with over 10,000 vehicles per day and convenient access to US Highway 27 and I-69.
Zoning is listed as Downtown Edge, which supports flexible use for redevelopment planning.
Key Highlights
- 4,498 SF redevelopment property for retail, office, or mixed‑use use.
- Detached 1,100 SF garage on site.
- Downtown Edge zoning allows flexible use.
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
$43,215
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
7.86%
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%
$864,300
$864.3K
Cap Rate 7%
$617,357
$617.4K
Cap Rate 9%
$480,167
$480.2K
Market Conditions
NOI Build-Up for 4,498 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
$67.5K $15.00/SF
− Vacancy
−$5.7K −$1.28/SF
EGI
$61.7K $13.73/SF
− OpEx
−$18.5K −$4.12/SF
NOI
$43.2K $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%
$864,300
Cap Rate 7%
$617,357
Cap Rate 9%
$480,167
Alternative Uses
Best Use
Retail
$617.4K
$540.2K – $720.3K
NOI $43,215 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.76M
$3.29M – $4.38M
NOI $263,028 @ 7.0% cap · market cap 47.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,553
Businesses Nearby
Explore this area
Business Placement
Demographics for 46802, IN
10,664
Population
5,831
Households
1.8
Avg Household Size
35
Median Age
23%
College-Educated
83%
High-School Grad
4.2 sq mi
ZIP Area
2,539
Density / Sq Mi
$40,903
Median Household Income
$32,172
Median Earnings
$880
Median Rent
$131,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Redevelopment property offering 4,498 SF of retail, office, or mixed use space plus a detached 1,100 SF garage.
Where is this retail space located?
The property is located at 1419 Fairfield Ave Fort Wayne, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4,498 SF redevelopment property for retail, office, or mixed‑use use.; Detached 1,100 SF garage on site.; Downtown Edge zoning allows flexible use.
