Warehouse/Office Space in Wells
For Sale
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1441 Wells St, Fort Wayne, IN 46808
Historic building with warehouse and office space near downtown.
Property Size4,960 SF
Price / SF$85.69
Days on Market2028
Property Features for 1441 Wells St
General Information
Standard status
Active
Size
4,960 SF
Property subtype
Industrial, Mixed Use
Zoning
UC
Site & Location
Neighborhood
Bloomingdale Neighborhood Assn
Building Details
Year Built
1900
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Sturges Property Group
Listed By:
Neal Bowman · License #IN RB14026402
(260) 424-8448
Source:
Crexi
Added: Apr 6, 2021
Changed: Oct 16
Last Checked: Oct 23 at 5:57AM
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 Sturges Property Group
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Investment Insights
Based on property information with market context.
Located in the Wells Street Corridor, at the corner of 4th and Wells, this historic building offers a combination of warehouse and office space. Originally a theatre, the property includes 1,873 square feet of office space and 3,087 square feet of warehouse space, totaling 4,960 square feet. The warehouse area features a clear-span layout and a 12-foot by 10-foot overhead door accessible from 4th Street. Parking and outdoor storage options are available at the rear of the building. Benefiting from high visibility on Wells Street, the property sees approximately 15,000 vehicles passing by daily. Its location is approximately 0.5 miles north of Downtown Fort Wayne, near the new riverfront development and the future River North mixed-use project. The property is suitable for various uses, including a music hall, entertainment venue, corner pub, billiard room, gaming lounge, arcade, art gallery, glass-blowing or wood-working showroom, or creative workspace.
Key Highlights
- Prime location: just 0.5 miles from Downtown Fort Wayne, close to riverfront development and River North project.
- Versatile space: features 1,873 SF office and 3,087 SF warehouse suitable for various uses.
- Warehouse features clear‑span space and a 12’ x 10’ overhead door.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,686
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,720
$593.7K
Cap Rate 7%
$424,086
$424.1K
Cap Rate 9%
$329,844
$329.8K
Market Conditions
NOI Build-Up for 4,960 SF
Gross rent
$44.6K $9.00/SF
− Vacancy
−$2.2K −$0.45/SF
EGI
$42.4K $8.55/SF
− OpEx
−$12.7K −$2.56/SF
NOI
$29.7K $5.98/SF
Area
Fort Wayne, IN
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,720
Cap Rate 7%
$424,086
Cap Rate 9%
$329,844
Alternative Uses
Best Use
Office B
$781.9K
$684.1K – $912.2K
NOI $54,730 @ 7.0% cap · market cap 12.88%
Second Best
Mixed Use
$725.4K
$634.7K – $846.3K
NOI $50,778 @ 7.0% cap · market cap 11.95%
Theoretical Best
Multifamily LT 5
$4.14M
$3.63M – $4.83M
NOI $290,044 @ 7.0% cap · market cap 68.25%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic building with warehouse and office space near downtown.
Where is this mixed-use property located?
The property is located at 1441 Wells St Fort Wayne, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime location: just 0.5 miles from Downtown Fort Wayne, close to riverfront development and River North project.; Versatile space: features 1,873 SF office and 3,087 SF warehouse suitable for various uses.; Warehouse features clear‑span space and a 12’ x 10’ overhead door.
