Three-Unit Office Condo
3322 Mallard Cove Lane, Fort Wayne, IN 46804
For Sale
Contact for pricing
C-1 zoning supports professional office and personal services uses.
Property Size6,120 SF
Lot Size0.96 Acres
Price / SF$140
Days on Market20
Property Features for 3322 Mallard Cove Lane
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Utilities to Site
Additional Details
Office Units
Property Use
Amenities
fitness room
lounge/break rooms
kitchenettes/wet bars
shower
restrooms
security system
Building Details
Year Built
Year Renovated
Buildings
Listing Agency:
Allied Commercial
Listed By:
Dave Horacek Jr · License IN RB19001890
(260) 760-1988
Source:
Crexi
Added: Oct 23
Changed: Nov 10
Last Checked: Nov 10 at 2:10PM
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 Allied Commercial
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Investment Insights
Based on property information with market context.
This 6,120-square-foot office condominium package comprises three units of 2,040 square feet each on 0.96 acres. Built in 1980 and renovated in 2017, the property includes a fitness room, two lounge and break rooms, three kitchenettes or wet bars, one shower, and six restrooms. Each unit has two central forced-air HVAC systems, for six systems across the package. A security system is installed, and the shared paved association lot provides 20+ parking spaces.
The property is approximately five minutes from I-69 Exit 305 and a short drive from Jefferson Pointe. Nearby retailers listed include Kohl’s, Walmart, Chick-fil-A, and Trader Joe’s. Utilities include Indiana Michigan Power (AEP), Fort Wayne City Utilities water and sewer, NIPSCO gas, and Xfinity internet. The property is zoned C-1 for professional office and personal services.
The property is approximately five minutes from I-69 Exit 305 and a short drive from Jefferson Pointe. Nearby retailers listed include Kohl’s, Walmart, Chick-fil-A, and Trader Joe’s. Utilities include Indiana Michigan Power (AEP), Fort Wayne City Utilities water and sewer, NIPSCO gas, and Xfinity internet. The property is zoned C-1 for professional office and personal services.
Key Highlights
- Three office condo units totaling 6,120 SF; each unit is 2,040 SF
- 0.96‑acre site with a paved shared association lot and 20+ parking spaces
- Built in 1980; renovated in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,530
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,350,600
$1.4M
Cap Rate 7%
$964,714
$964.7K
Cap Rate 9%
$750,333
$750.3K
Market Conditions
NOI Build-Up for 6,120 SF
Gross rent
$104.3K $17.04/SF
− Vacancy
−$14.2K −$2.33/SF
EGI
$90.0K $14.71/SF
− OpEx
−$22.5K −$3.68/SF
NOI
$67.5K $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%
$1,350,600
Cap Rate 7%
$964,714
Cap Rate 9%
$750,333
Alternative Uses
Best Use
Office B
$964.7K
$844.1K – $1.13M
NOI $67,530 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Apartment 5plus
$4.59M
$4.01M – $5.35M
NOI $321,082 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Office units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 46804, IN
28,800
Population
12,959
Households
2.2
Avg Household Size
40
Median Age
44%
College-Educated
96%
High-School Grad
17.7 sq mi
ZIP Area
1,627
Density / Sq Mi
$84,778
Median Household Income
$49,050
Median Earnings
$1,134
Median Rent
$241,000
Median Home Value
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Market
Properties on Market for Office Units in Fort Wayne
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - C-1 zoning supports professional office and personal services uses.
Where is this office unit located?
The property is located at 3322 Mallard Cove Lane Fort Wayne, IN.
What is the asking price?
The asking price for this property is $856,800.
What are key features of this property?
This property features: Three office condo units totaling 6,120 SF; each unit is 2,040 SF; 0.96‑acre site with a paved shared association lot and 20+ parking spaces; Built in 1980; renovated in 2017
