Storefront Building with
1902 Broadway Street Fort Wayne, IN 46802
1902 Broadway Street, Fort Wayne, IN, 46802
$750,000
For Sale
$750,000
Storefront building for sale with a month-to-month rented apartment on the second floor.
Property Size4,188 SF
Lot Size0.27 Acres
Price / SF$179.08
Days on Market475
Property Features for 1902 Broadway Street
General Information
- Standard status
- Active
- Size
- 4,188 SF
- Lot size
- 0.27 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1914
Listing agency
eXp Realty, LLC
(260) 760-4631
Listed by
Benjamin Wahli · License #RB17001956
(260) 760-4631
Source
Xome
Added: Apr 4, 2025 Updated: Jul 22 at 5:25AM Checked: Jul 22 at 5:25AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This storefront building includes a second-floor apartment that is currently rented month to month. The sale also includes a large lot, providing space that is ready to be developed.
The property is described as being located between Electric Works and Taylor Street.
The building is offered for sale with both the retail storefront and the income-producing apartment component included in the purchase.
The property is described as being located between Electric Works and Taylor Street.
The building is offered for sale with both the retail storefront and the income-producing apartment component included in the purchase.
Key Highlights
- Storefront building with a month‑to‑month rented apartment on the second floor
- Large lot included in the sale, totaling 0.27 acres
- Approx. 4,188 SF ready for development
Local Financial Insights For Retail
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 | $62.8k | $15.00 |
| − Vacancy | −$5.3k | −$1.28 |
| EGI | $57.5k | $13.73 |
| − OpEx | −$17.2k | −$4.12 |
| NOI | $40.2k | $9.61 |
4,188 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$574.8K
$503.0K – $670.6K
NOI $40,236 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.50M
$3.06M – $4.08M
NOI $244,900 @ 7.0% cap · market cap 32.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Storefront property - Storefront building for sale with a month-to-month rented apartment on the second floor.
Where is this storefront property located?
The property is located at 1902 Broadway Street Fort Wayne, IN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Storefront building with a month‑to‑month rented apartment on the second floor; Large lot included in the sale, totaling 0.27 acres; Approx. 4,188 SF ready for development
