Retail Space with Garage
New
For Sale
Contact for pricing
1502 W Main Street, Fort Wayne, IN 46808
Corner-positioned space includes an office and restroom for a customer-facing business.
Property Size1,040 SF
Days on Market5
Property Features for 1502 W Main Street
General Information
Standard status
Active
Size
1,040 SF
Total Parking Spaces
10
Property subtype
Commercial
Site & Location
Neighborhood
Nebraska
Building Details
Year Built
1942
Buildings
1
Listing Agency:
Corporate Commercial Group
Listed By:
Santino Zurzolo · License #IN RB23001926
(260) 740-1887
Source:
Jmrealtyonline
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 2:55PM
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 Corporate Commercial Group
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Investment Insights
Based on property information with market context.
The retail property contains 1,040 SF, including an office and restroom, with two garage bay doors. Built in 1942, it also has parking for approximately 10 vehicles.
At 1502 W Main Street in Fort Wayne, the property occupies a corner and experiences substantial pedestrian activity during summer months.
At 1502 W Main Street in Fort Wayne, the property occupies a corner and experiences substantial pedestrian activity during summer months.
Key Highlights
- 1,040 SF retail property built in 1942
- Two garage bay doors, an office, and a restroom
- Parking for approximately 10 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,992
Suggested Prices Based on Cap Rates
Cap Rate 5%
$199,840
$199.8K
Cap Rate 7%
$142,743
$142.7K
Cap Rate 9%
$111,022
$111.0K
Market Conditions
NOI Build-Up for 1,040 SF
Gross rent
$15.6K $15.00/SF
− Vacancy
−$1.3K −$1.28/SF
EGI
$14.3K $13.73/SF
− OpEx
−$4.3K −$4.12/SF
NOI
$10.0K $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 Rate 5%
$199,840
Cap Rate 7%
$142,743
Cap Rate 9%
$111,022
Alternative Uses
Best Use
Retail
$142.7K
$124.9K – $166.5K
NOI $9,992 @ 7.0% cap · market cap 999,200.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$868.8K
$760.2K – $1.01M
NOI $60,816 @ 7.0% cap · market cap 6,081,600.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
696
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Corner-positioned space includes an office and restroom for a customer-facing business.
Where is this retail space located?
The property is located at 1502 W Main Street Fort Wayne, IN.
What are key features of this property?
This property features: 1,040 SF retail property built in 1942; Two garage bay doors, an office, and a restroom; Parking for approximately 10 vehicles
