Free-Standing Restaurant
For Sale
$1,050,000
4036 Coldwater Road, Fort Wayne, IN 46805
Free-standing building with fully equipped restaurant space, zoned I1/Limited Industrial, on a high-traffic retail corridor.
Property Size4,480 SF
Lot Size1.72 Acres
Price / SF$234.38
Days on Market104
Property Features for 4036 Coldwater Road
General Information
Standard status
Active
Size
4,480 SF
Lot size
1.72 Acres
Property subtype
Retail - Freestanding
Zoning
I1
Additional Details
Business Included
Yes
Traffic Count
16,794 vehicles/day
Building Details
Building Size
4,480 SF
Year Built
1969
Listing Agency:
The Zacher Company
Listed By:
Dan Gabbard · License #RB18001659
(260) 704-5409
Source:
Commercialcafe
Added: Jul 3
Changed: Sep 28
Last Checked: Oct 12 at 5:02PM
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 The Zacher Company
Investment Insights
Based on property information with market context.
This free-standing restaurant building was established in 1969 and totals 4,480 SF. The interior includes a fully equipped restaurant space, providing an operational setup for food service users and a practical base for compatible retail uses. The property is zoned I1 / Limited Industrial, supporting a range of industrial and commercial operating needs consistent with that classification.
The site is positioned in the Northeast area of Fort Wayne, directly across from Glenbrook Mall, with visibility along the retail corridor. Public remarks also cite approximately 16,794 VPD along Coldwater Rd, which can support customer draw for retail-oriented concepts. An adjacent property, offering up to 1.72 acres, is also available for sale, which may be relevant for users considering expansion or redevelopment options.
For tenants, buyers, or operators seeking a ready-to-occupy restaurant layout within a free-standing format, the equipped space and accessible configuration can simplify initial occupancy planning. For investors evaluating reuse or redevelopment, the I1 / Limited Industrial zoning and the property’s strong retail-adjacent positioning can support planning for alternative concepts that align with the site’s existing improvements and zoning. The additional adjacent acreage also offers a potential path for larger-scale site planning where permitted.
The site is positioned in the Northeast area of Fort Wayne, directly across from Glenbrook Mall, with visibility along the retail corridor. Public remarks also cite approximately 16,794 VPD along Coldwater Rd, which can support customer draw for retail-oriented concepts. An adjacent property, offering up to 1.72 acres, is also available for sale, which may be relevant for users considering expansion or redevelopment options.
For tenants, buyers, or operators seeking a ready-to-occupy restaurant layout within a free-standing format, the equipped space and accessible configuration can simplify initial occupancy planning. For investors evaluating reuse or redevelopment, the I1 / Limited Industrial zoning and the property’s strong retail-adjacent positioning can support planning for alternative concepts that align with the site’s existing improvements and zoning. The additional adjacent acreage also offers a potential path for larger-scale site planning where permitted.
Key Highlights
- 4,480 SF free‑standing building built in 1969
- Zoned I1/Limited Industrial
- Includes fully equipped restaurant space suitable for retail use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,604
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,080
$992.1K
Cap Rate 7%
$708,629
$708.6K
Cap Rate 9%
$551,156
$551.2K
Market Conditions
NOI Build-Up for 4,480 SF
Gross rent
$71.5K $15.96/SF
− Vacancy
−$5.4K −$1.20/SF
EGI
$66.1K $14.76/SF
− OpEx
−$16.5K −$3.69/SF
NOI
$49.6K $11.07/SF
Area
Fort Wayne, IN
Vacancy
7.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$992,080
Cap Rate 7%
$708,629
Cap Rate 9%
$551,156
Alternative Uses
Best Use
Specialty Retail
$708.6K
$620.1K – $826.7K
NOI $49,604 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.74M
$3.27M – $4.37M
NOI $261,975 @ 7.0% cap · market cap 24.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
16,794 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46805, IN
21,138
Population
10,742
Households
2
Avg Household Size
35
Median Age
27%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
3,303
Density / Sq Mi
$50,099
Median Household Income
$37,294
Median Earnings
$858
Median Rent
$131,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Free-standing building with fully equipped restaurant space, zoned I1/Limited Industrial, on a high-traffic retail corridor.
Where is this conventional restaurant located?
The property is located at 4036 Coldwater Road Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 4,480 SF free‑standing building built in 1969; Zoned I1/Limited Industrial; Includes fully equipped restaurant space suitable for retail use
