Building Details

Year Built 1954

Construction ranch

Listing Agency: JM Realty Associates, Inc.

Listed By: Jerry Starks · License #RB14038134 Show Phone

Source: Callcriswell

Added: Aug 23 Changed: Oct 12 Last Checked: Oct 7 at 5:44PM

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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.

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 / Yr

$9,136

Cap Rate

4.81%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $9,136 @ 7.0% cap · market cap 4.81%

Second Best

Flex RnD

$86.7K

$75.9K – $101.2K (±1% cap)

NOI $6,071 @ 7.0% cap · market cap 3.20%

Theoretical Best

Multifamily LT 5

$691.7K

$605.2K – $807.0K (±1% cap)

NOI $48,419 @ 7.0% cap · market cap 25.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Restaurant Spa & Massage Center Hair Salon Electrical Service Big Box & Wholesale Store Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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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