Flex Office and Warehouse
For Sale
Contact for pricing
2014 S Calhoun St, Fort Wayne, IN 46802
A flex office and heated warehouse building with 2,145 SF of office space and 2,912 SF warehouse with two overhead doors.
Property Size5,057 SF
Price / SF$171.70
Days on Market91
Property Features for 2014 S Calhoun St
General Information
Standard status
Active
Size
5,057 SF
Property subtype
INDUSTRIAL
Zoning
C-3
Warehouse & Industrial
Warehouse Space
2,912 SF
Office Build-Out
2,145 SF
Heavy Power
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1954
Buildings
1
Building Size
5,057 SF
Properties For Sale
at 2014 S Calhoun St Contact us- Floor
- 1
- Size
- 2,145 SF
- Type
- EXECUTIVE_SUITES
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2014 S Calhoun St
- Discover an exceptional leasing opportunity at 2014 S Calhoun St, Fort Wayne, IN,...
show more
Contact us
- Floor
- 1
- Size
- 2,912 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2014 S Calhoun St
- Discover an exceptional leasing opportunity at 2014 S Calhoun St, Fort Wayne, IN,...
show more
Contact us
Listing Agency:
Acadia Commercial
(260) 377-5002
Listed By:
Charlotte Tompkins · License #RB20000274
(260) 487-3653
Source:
Moodyscre
Added: Jun 15
Changed: Aug 23
Last Checked: Sep 12 at 5:05AM
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 Acadia Commercial
Investment Insights
Based on property information with market context.
This flex office and warehouse building totals 5,057 SF and combines professional office space with a functional warehouse area. The office portion includes 6 large private offices, a conference room, and a formal reception area. The warehouse portion is 2,912 SF and includes two overhead doors, restroom facilities, heated space, and unique storage rooms.
Built in 1954, the property is zoned C-3 (Commercial). The building is described as suitable for multiple uses, including professional office, medical or dental office, creative space, or flex use.
The warehouse is noted as having high power capability, supporting a range of light industrial or operational needs that pair with dedicated office support.
Built in 1954, the property is zoned C-3 (Commercial). The building is described as suitable for multiple uses, including professional office, medical or dental office, creative space, or flex use.
The warehouse is noted as having high power capability, supporting a range of light industrial or operational needs that pair with dedicated office support.
Key Highlights
- 5,057 SF flex office/warehouse building at 2014 S Calhoun St, Fort Wayne, IN
- 2,145 SF office includes 6 private offices, a large conference room, and a formal reception area
- 2,912 SF heated warehouse with 2 overhead doors
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
$32,132
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
6.43%
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%
$642,640
$642.6K
Cap Rate 7%
$459,029
$459.0K
Cap Rate 9%
$357,022
$357.0K
Market Conditions
NOI Build-Up for 2,912 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
$49.6K $17.04/SF
− Vacancy
−$6.8K −$2.33/SF
EGI
$42.8K $14.71/SF
− OpEx
−$10.7K −$3.68/SF
NOI
$32.1K $11.03/SF
Area
Fort Wayne, IN
Vacancy
13.66%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
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%
$642,640
Cap Rate 7%
$459,029
Cap Rate 9%
$357,022
Alternative Uses
Best Use
Office B
$459.0K
$401.7K – $535.5K
NOI $32,132 @ 7.0% cap · market cap 6.43%
Second Best
Warehouse
$336.3K
$294.3K – $392.4K
NOI $23,544 @ 7.0% cap · market cap 4.71%
Theoretical Best
Multifamily LT 5
$2.43M
$2.13M – $2.84M
NOI $170,284 @ 7.0% cap · market cap 34.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - A flex office and heated warehouse building with 2,145 SF of office space and 2,912 SF warehouse with two overhead doors.
Where is this flex space located?
The property is located at 2014 S Calhoun St Fort Wayne, IN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 5,057 SF flex office/warehouse building at 2014 S Calhoun St, Fort Wayne, IN; 2,145 SF office includes 6 private offices, a large conference room, and a formal reception area; 2,912 SF heated warehouse with 2 overhead doors
