Office Unit with Concrete
New
For Sale
$189,900
3109 Oxford St, Fort Wayne, IN 46806
I-2 zoning, a dedicated office, updated kitchen, utility room, and recent exterior improvements support flexible commercial occupancy.
Property Size828 SF
Price / SF$229.35
Days on Market6
Property Features for 3109 Oxford St
General Information
Standard status
Active
Size
828 SF
Zoning
I-2
Amenities
dedicated office
updated kitchen
utility room
gas and electric dryer hookups
security alarm system
Building Details
Year Built
1954
Construction
ranch
Listing Agency:
JM Realty Associates, Inc.
(260) 799-6561
Listed By:
Jerry Starks · License #RB14038134
Source:
Callcriswell
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 28 at 7:46AM
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 JM Realty Associates, Inc.
Investment Insights
Based on property information with market context.
This ranch-style office unit at 3109 Oxford St features spacious rooms, a dedicated office, updated kitchen, utility room, gas and electric dryer hookups, and a security alarm system. Recent improvements include a newer roof, windows, siding, appliances, and a newly poured concrete parking lot. The property was previously used as a daycare and later served as office space for a trucking company.
Currently zoned I-2 (Industrial), the property offers a commercial setting with prior office and daycare use. Conversion to residential use is identified as a possibility, subject to approval from the appropriate local zoning authorities. Built in 1954, the property provides an adaptable layout for an owner-occupant or other commercial user.
Currently zoned I-2 (Industrial), the property offers a commercial setting with prior office and daycare use. Conversion to residential use is identified as a possibility, subject to approval from the appropriate local zoning authorities. Built in 1954, the property provides an adaptable layout for an owner-occupant or other commercial user.
Key Highlights
- I‑2 (Industrial) zoning
- Newer roof, windows, siding, and appliances
- Newly poured concrete parking lot
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
$9,136
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
4.81%
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%
$182,720
$182.7K
Cap Rate 7%
$130,514
$130.5K
Cap Rate 9%
$101,511
$101.5K
Market Conditions
NOI Build-Up for 828 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
$14.1K $17.04/SF
− Vacancy
−$1.9K −$2.33/SF
EGI
$12.2K $14.71/SF
− OpEx
−$3.0K −$3.68/SF
NOI
$9.1K $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%
$182,720
Cap Rate 7%
$130,514
Cap Rate 9%
$101,511
Alternative Uses
Best Use
Office B
$130.5K
$114.2K – $152.3K
NOI $9,136 @ 7.0% cap · market cap 4.81%
Second Best
Flex RnD
$86.7K
$75.9K – $101.2K
NOI $6,071 @ 7.0% cap · market cap 3.20%
Theoretical Best
Multifamily LT 5
$691.7K
$605.2K – $807.0K
NOI $48,419 @ 7.0% cap · market cap 25.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 46806, IN
26,083
Population
10,282
Households
2.5
Avg Household Size
29
Median Age
9%
College-Educated
73%
High-School Grad
8.3 sq mi
ZIP Area
3,143
Density / Sq Mi
$44,601
Median Household Income
$31,472
Median Earnings
$924
Median Rent
$78,000
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?
Office units - I-2 zoning, a dedicated office, updated kitchen, utility room, and recent exterior improvements support flexible commercial occupancy.
Where is this office units located?
The property is located at 3109 Oxford St Fort Wayne, IN.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: I‑2 (Industrial) zoning; Newer roof, windows, siding, and appliances; Newly poured concrete parking lot
