Multi-Use Church
For Sale
$795,000
2100 Kentucky Ave, Fort Wayne, IN 46805
Church facility with classroom areas, a commercial kitchen, and space supporting community-oriented operations.
Property Size9,422 SF
Price / SF$84.38
Days on Market48
Property Features for 2100 Kentucky Ave
General Information
Standard status
Active
Size
9,422 SF
Building Details
Year Built
1941
Listing Agency:
RealtyFlex of N.E. Indiana LLC
(260) 438-8800
Listed By:
David Augustyniak · License #RB14027792
Source:
Spencerchildersgroup
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 25 at 5:30AM
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 RealtyFlex of N.E. Indiana LLC
Investment Insights
Based on property information with market context.
The 9,422-square-foot church facility was built in 1941 and is arranged for worship, classroom, kitchen, and community-service functions. The main gathering area accommodates approximately 150 people, while additional classroom areas provide flexible interior space. A commercial kitchen is also part of the building’s improvements.
Current operations include a church, food bank, health clinic, clothing donation program, and commercial kitchen use. The property is located at 2100 Kentucky Ave in Fort Wayne, Indiana, providing an established setting for an organization requiring a combination of assembly, classroom, service, and support areas.
Current operations include a church, food bank, health clinic, clothing donation program, and commercial kitchen use. The property is located at 2100 Kentucky Ave in Fort Wayne, Indiana, providing an established setting for an organization requiring a combination of assembly, classroom, service, and support areas.
Key Highlights
- 9,422‑square‑foot church facility built in 1941
- Main gathering area seats approximately 150 people
- Includes classroom areas for educational or community functions
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
$56,391
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
7.09%
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%
$1,127,820
$1.1M
Cap Rate 7%
$805,586
$805.6K
Cap Rate 9%
$626,567
$626.6K
Market Conditions
NOI Build-Up for 9,422 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
$84.8K $9.00/SF
− Vacancy
−$4.2K −$0.45/SF
EGI
$80.6K $8.55/SF
− OpEx
−$24.2K −$2.56/SF
NOI
$56.4K $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 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%
$1,127,820
Cap Rate 7%
$805,586
Cap Rate 9%
$626,567
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,323 @ 7.0% cap · market cap 13.12%
Second Best
Healthcare Medical
$1.49M
$1.30M – $1.74M
NOI $104,227 @ 7.0% cap · market cap 13.11%
Theoretical Best
Multifamily LT 5
$7.87M
$6.89M – $9.18M
NOI $550,967 @ 7.0% cap · market cap 69.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Explore this area
Business Placement
Demographics for 46805, IN
21,138
Population
10,742
Households
2
Avg Household Size
35
Median Age
27%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
3,303
Density / Sq Mi
$50,099
Median Household Income
$37,294
Median Earnings
$858
Median Rent
$131,300
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?
Church & religious facility - Church facility with classroom areas, a commercial kitchen, and space supporting community-oriented operations.
Where is this church & religious facility located?
The property is located at 2100 Kentucky Ave Fort Wayne, IN.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 9,422‑square‑foot church facility built in 1941; Main gathering area seats approximately 150 people; Includes classroom areas for educational or community functions
