Mixed-Use Property with Event
For Sale
$1,150,000
2417 spy run Avenue, Fort Wayne, IN 46805
INVESTMENT, Three Story, Fort Wayne, IN
Property Size3,868 SF
Lot Size1.04 Acres
Price / SF$297.31
Days on Market97
Property Features for 2417 spy run Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Basement, Bathroom 4, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bathroom 5
Parking
25
Subdivision
Centlivre
Lot features
City/ Town/ Suburb, Irregular, Historic Designation
Elementary school
Forest Park
Middle school
Lakeside
High school
North Side
Elementary school district
Fort Wayne Community
Middle school district
Fort Wayne Community
High school district
Fort Wayne Community
Directions
spy Run ave north of State Street. Property is on the left.
Standard status
Active
APN
02-07-35-279-005.000-074
Size
3,868 SF
Lot size
1.04 Acres
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Description
Lots 5 & 6 & E 28ft of lot 7 Vac Alleys centlivre brewing Co Add.
Legal Description
Lots 5 & 6 & E 28ft of lot 7 Vac Alleys centlivre brewing Co Add.
Utilities
Cooling system
Central Air
Building Details
Year built
1886
Floors in Building
3
Number of units
16
Flooring type
Parquet Wood, Wood
Roof type
Slate
Architectural style
Other
Buildings
3
Listing Agency:
Keystone Real Estate Sales, LLC
(260) 760-7194
Listed By:
Heidi Ramseyer
(260) 273-2118
Added: Jul 24
Changed: Oct 24
Last Checked: Oct 28 at 10:06AM
MLS# 202629993
Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property includes four fully furnished apartments, with three one-bedroom units and one two-bedroom unit. The residences are used for short-term and extended stays. An event center occupies a converted brick carriage house with main and upper levels and accommodates 100-125 people. The property also includes 11 large one-car garages.
The residential component is housed within a restored Queen Ann home designed by Wing and Mahurin. Together with the carriage house and another structure, the property comprises the last three structures associated with the old Centlivre Brewing Company. Built in 1886, the site contains 3,868 square feet on 1.04 acres and features parquet and wood flooring, central air, and a slate roof. Previously committed rental agreements must be honored by the buyer.
The residential component is housed within a restored Queen Ann home designed by Wing and Mahurin. Together with the carriage house and another structure, the property comprises the last three structures associated with the old Centlivre Brewing Company. Built in 1886, the site contains 3,868 square feet on 1.04 acres and features parquet and wood flooring, central air, and a slate roof. Previously committed rental agreements must be honored by the buyer.
Key Highlights
- Four fully furnished apartments: three 1‑bedroom units and one 2‑bedroom unit
- Event center in a converted brick carriage house with main and upper levels
- Event center accommodates 100‑125 people
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,599
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,980
$792.0K
Cap Rate 7%
$565,700
$565.7K
Cap Rate 9%
$439,989
$440.0K
Market Conditions
NOI Build-Up for 3,868 SF
Gross rent
$69.6K $18.00/SF
− Vacancy
−$6.3K −$1.62/SF
EGI
$63.4K $16.38/SF
− OpEx
−$23.8K −$6.14/SF
NOI
$39.6K $10.24/SF
Area
Fort Wayne, IN
Vacancy
9.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,980
Cap Rate 7%
$565,700
Cap Rate 9%
$439,989
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.54M – $3.38M
NOI $202,933 @ 7.0% cap · market cap 17.65%
Second Best
Mixed Use
$565.7K
$495.0K – $660.0K
NOI $39,599 @ 7.0% cap · market cap 3.44%
Theoretical Best
Multifamily LT 5
$3.23M
$2.83M – $3.77M
NOI $226,187 @ 7.0% cap · market cap 19.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
478
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines furnished apartments, an event venue, and multiple garages.
Where is this mixed-use property located?
The property is located at 2417 spy run Avenue Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four fully furnished apartments: three 1‑bedroom units and one 2‑bedroom unit; Event center in a converted brick carriage house with main and upper levels; Event center accommodates 100‑125 people
