Office
For Sale
Contact for pricing
2310 Cass St, Fort Wayne, IN 46808
For sale office building with easy access to US 27 and suitability for an owner-occupied site.
Property Size4,360 SF
Price / SF$177.75
Days on Market203
Property Features for 2310 Cass St
General Information
Standard status
Active
Size
4,360 SF
Property subtype
OFFICE
Additional Details
Asking Price
$775,000
Highway Access
Yes
Building Details
Buildings
1
Building Size
4,360 SF
Listing Agency:
CornerStone Companies Inc
(317) 841-9900
Listed By:
Ben Cohen · License #RB18001521
(317) 754-6245
Source:
Moodyscre
Added: Feb 24
Changed: Aug 14
Last Checked: Sep 14 at 12:16PM
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 CornerStone Companies Inc
Investment Insights
Based on property information with market context.
This for-sale office building at 2310 Cass St, Fort Wayne, IN 46808 offers a total building size of 4,360 SF. The property is positioned for straightforward use as an owner-occupied site.
The location provides easy access to US 27, supporting convenient commutes and access for employees, customers, and vendors. It’s a practical option for an office user looking for an accessible footprint in a high-growth area.
The offering is best suited for buyers who want a manageable office building size with convenient regional connectivity via US 27.
The location provides easy access to US 27, supporting convenient commutes and access for employees, customers, and vendors. It’s a practical option for an office user looking for an accessible footprint in a high-growth area.
The offering is best suited for buyers who want a manageable office building size with convenient regional connectivity via US 27.
Key Highlights
- 4,360 SF office building for sale
- Easy access to US 27
- Owner‑occupied site
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
$48,109
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
6.21%
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%
$962,180
$962.2K
Cap Rate 7%
$687,271
$687.3K
Cap Rate 9%
$534,544
$534.5K
Market Conditions
NOI Build-Up for 4,360 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
$74.3K $17.04/SF
− Vacancy
−$10.1K −$2.33/SF
EGI
$64.1K $14.71/SF
− OpEx
−$16.0K −$3.68/SF
NOI
$48.1K $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%
$962,180
Cap Rate 7%
$687,271
Cap Rate 9%
$534,544
Alternative Uses
Best Use
Office B
$687.3K
$601.4K – $801.8K
NOI $48,109 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.64M
$3.19M – $4.25M
NOI $254,958 @ 7.0% cap · market cap 32.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
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
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?
Office building - For sale office building with easy access to US 27 and suitability for an owner-occupied site.
Where is this office building located?
The property is located at 2310 Cass St Fort Wayne, IN.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4,360 SF office building for sale; Easy access to US 27; Owner‑occupied site
