Two-Floor Flex
New
For Sale
$925,000
2230 W Coliseum Blvd, Fort Wayne, IN 46808
Office, basement, and attached warehouse areas create a mixed-use commercial layout.
Property Size6,145 SF
Price / SF$150.53
Days on Market2
Property Features for 2230 W Coliseum Blvd
General Information
Standard status
Active
Size
6,145 SF
Class
C
Property subtype
Office - Flex - Office
Zoning
I2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
1,300 SF
Building Details
Building Size
6,145 SF
Year Built
1965
Year Renovated
2023
Buildings
1
Stories
2
Listing Agency:
SVN | Parke Group
(260) 489-8500
Listed By:
Diana L. Parent · License #RB14025581
Source:
Commercialcafe
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 3:15AM
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 SVN | Parke Group
Investment Insights
Based on property information with market context.
Located at 2230 W Coliseum Blvd in Fort Wayne, this flex-space property includes 6,145 SF across two floors of office space, a finished basement, and an attached warehouse of approximately 1,300 SF. The building was constructed in 1965 and occupies nearly half an acre within Zone I2. Its configuration combines finished administrative areas with dedicated space for warehouse or storage functions.
The property sits on West Coliseum Boulevard in an industrial area, with major retail centers to the east. Access to I-69, I-469, U.S. 30, U.S. 33, and U.S. 24 connects the site with major routes throughout the area. The layout is suited to businesses requiring both office and warehouse components, including the trade contractor, equipment sales and service, and professional service uses identified in the property information.
The property sits on West Coliseum Boulevard in an industrial area, with major retail centers to the east. Access to I-69, I-469, U.S. 30, U.S. 33, and U.S. 24 connects the site with major routes throughout the area. The layout is suited to businesses requiring both office and warehouse components, including the trade contractor, equipment sales and service, and professional service uses identified in the property information.
Key Highlights
- 6,145 SF flex building with two floors of office space
- Attached warehouse measures approximately 1,300 SF
- Finished basement adds usable interior space
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
$67,805
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
7.33%
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%
$1,356,100
$1.4M
Cap Rate 7%
$968,643
$968.6K
Cap Rate 9%
$753,389
$753.4K
Market Conditions
NOI Build-Up for 6,145 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
$104.7K $17.04/SF
− Vacancy
−$14.3K −$2.33/SF
EGI
$90.4K $14.71/SF
− OpEx
−$22.6K −$3.68/SF
NOI
$67.8K $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%
$1,356,100
Cap Rate 7%
$968,643
Cap Rate 9%
$753,389
Alternative Uses
Best Use
Office B
$968.6K
$847.6K – $1.13M
NOI $67,805 @ 7.0% cap · market cap 7.33%
Second Best
Warehouse
$709.8K
$621.0K – $828.1K
NOI $49,683 @ 7.0% cap · market cap 5.37%
Theoretical Best
Multifamily LT 5
$5.13M
$4.49M – $5.99M
NOI $359,339 @ 7.0% cap · market cap 38.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Office, basement, and attached warehouse areas create a mixed-use commercial layout.
Where is this flex space located?
The property is located at 2230 W Coliseum Blvd Fort Wayne, IN.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 6,145 SF flex building with two floors of office space; Attached warehouse measures approximately 1,300 SF; Finished basement adds usable interior space
