Fort Wayne Industrial Investment
For Sale
Contact for pricing
3427-3425 North Clinton Street, Fort Wayne, IN
36,533 SF building with 5 units, 100% occupancy.
Property Size36,533 SF
Lot Size3.58 Acres
Price / SF$98.54
Days on Market335
Property Features for 3427-3425 North Clinton Street
General Information
Standard status
Active
Size
36,533 SF
Lot size
3.58 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Xplor Commercial Real Estate
(260) 487-3699
Listed By:
Dennis Callison
(260) 438-6251
Source:
Moodyscre
Added: Oct 16, 2025
Changed: Sep 13
Last Checked: Sep 14 at 11:41AM
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 Xplor Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in Fort Wayne, IN, this property features a 36,533 square foot building containing 5 units. Constructed in 1956, the property is zoned for both C3 and I1, accommodating a range of business operations. The property is situated in the industrial area and is suitable for industrial or office showroom use. The property has 100% occupancy.
Key Highlights
- 100% Occupancy: Provides immediate income potential
- 36,533 Square Foot Building: Offers substantial space
- Zoned C3 and I1: Allows for a wide range of commercial and industrial uses
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
$218,650
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
6.07%
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%
$4,373,000
$4.4M
Cap Rate 7%
$3,123,571
$3.1M
Cap Rate 9%
$2,429,444
$2.4M
Market Conditions
NOI Build-Up for 36,533 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
$328.8K $9.00/SF
− Vacancy
−$16.4K −$0.45/SF
EGI
$312.4K $8.55/SF
− OpEx
−$93.7K −$2.56/SF
NOI
$218.7K $5.98/SF
Area
Fort Wayne, IN
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,373,000
Cap Rate 7%
$3,123,571
Cap Rate 9%
$2,429,444
Alternative Uses
Best Use
Industrial
$3.12M
$2.73M – $3.64M
NOI $218,650 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.52M
$26.70M – $35.61M
NOI $2,136,326 @ 7.0% cap · market cap 59.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
686
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Industrial property - 36,533 SF building with 5 units, 100% occupancy.
Where is this industrial property located?
The property is located at 3427-3425 North Clinton Street Fort Wayne, IN.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate income potential; 36,533 Square Foot Building: Offers substantial space; Zoned C3 and I1: Allows for a wide range of commercial and industrial uses
