Class A Office
For Sale
Contact for pricing
402-416 S Scott Road, Fort Wayne, IN 46814
Stabilized two-building office park with five professional suites and 100% occupancy.
Property Size17,065 SF
Lot Size1.68 Acres
Price / SF$146.21
Days on Market80
Property Features for 402-416 S Scott Road
General Information
Standard status
Active
Size
17,065 SF
Class
A
Total Parking Spaces
72
Lot size
1.68 Acres
Property subtype
Office
Zoning
C-1
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$217,988
Building Details
Year Built
2005
Year Renovated
2016
Buildings
2
Tenancy
Multi
Listing Agency:
Bradley Company Fort Wayne
Listed By:
Carolyn Spake-Leeper, SIOR · License #IN RB14041366
(260) 437-8745
Source:
Crexi
Added: Jun 18
Changed: Aug 21
Last Checked: Aug 30 at 5:26PM
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 Bradley Company Fort Wayne
Investment Insights
Based on property information with market context.
Sycamore Pointe is a stabilized, income-producing Class A office park comprising two office buildings on a 1.68-acre parcel near the Illinois Road / Scott Road intersection. Building 2, constructed in 2016, features five professional suites totaling 12,060 SF. Building 1, built in 2005, is occupied by Premiere Dance Company across 6,171 SF.
The property is 100% occupied, with tenant occupancy maintained for 6 to 18 years. Improvements are reported in excellent overall condition and include abundant surface parking, mature landscaping, and strong street identity.
As a for-sale offering, Sycamore Pointe presents a fully leased office park configuration across both buildings, with the ability to review operating details in the complete Offering Memorandum provided by brokers.
The property is 100% occupied, with tenant occupancy maintained for 6 to 18 years. Improvements are reported in excellent overall condition and include abundant surface parking, mature landscaping, and strong street identity.
As a for-sale offering, Sycamore Pointe presents a fully leased office park configuration across both buildings, with the ability to review operating details in the complete Offering Memorandum provided by brokers.
Key Highlights
- Stabilized two‑building Class A office park on a 1.68‑acre parcel near Illinois Road and Scott Road
- Building 1 (2005) includes 6,171 SF and is occupied by Premiere Dance Company
- Building 2 includes five professional suites totaling 12,060 SF and was built in 2016
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
$188,300
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
7.55%
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%
$3,766,000
$3.8M
Cap Rate 7%
$2,690,000
$2.7M
Cap Rate 9%
$2,092,222
$2.1M
Market Conditions
NOI Build-Up for 17,065 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
$290.8K $17.04/SF
− Vacancy
−$39.7K −$2.33/SF
EGI
$251.1K $14.71/SF
− OpEx
−$62.8K −$3.68/SF
NOI
$188.3K $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%
$3,766,000
Cap Rate 7%
$2,690,000
Cap Rate 9%
$2,092,222
Alternative Uses
Best Use
Office B
$2.69M
$2.35M – $3.14M
NOI $188,300 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$14.26M
$12.47M – $16.63M
NOI $997,903 @ 7.0% cap · market cap 40.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
Business Placement
Demographics for 46814, IN
16,377
Population
5,848
Households
2.8
Avg Household Size
38
Median Age
62%
College-Educated
97%
High-School Grad
19.1 sq mi
ZIP Area
857
Density / Sq Mi
$143,245
Median Household Income
$71,662
Median Earnings
$1,249
Median Rent
$383,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Stabilized two-building office park with five professional suites and 100% occupancy.
Where is this office building located?
The property is located at 402-416 S Scott Road Fort Wayne, IN.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Stabilized two‑building Class A office park on a 1.68‑acre parcel near Illinois Road and Scott Road; Building 1 (2005) includes 6,171 SF and is occupied by Premiere Dance Company; Building 2 includes five professional suites totaling 12,060 SF and was built in 2016
